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Types of Accident Compensation

Typically, this form of payment covers medical expenses, such as prescription drugs and devices such as physical therapy, surgery and so on. This compensation may also be used to pay for future earnings.

This type of payment can be referred to as "general damages." It can be challenging to determine the amount of these damages as insurers have different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident. They include out-of-pocket expenses like lost wages, property damage costs, and financial losses that will come from the disability or injury. Courts and juries typically calculate these costs using documents such as hospital bills, pharmacy receipts and estimates of vehicle repairs.

They are fairly easy to prove and are among the most immediate expenses that are incurred in an accident. They cover medical expenses for example, the first hospital stay and all subsequent care and treatment. They can also include the cost to repair damaged cars or other items of property such as clothing and household items. These expenses can also include the cost of hiring someone else to do housework or drive your children to school or other activities.

The loss of wages is an additional important type of economic damage. This is not just the lost wages due to your injuries, but also any loss of productivity while you recover, and any sick days or vacation leaves. In some cases you can also claim compensation for the loss of your potential earnings If your injury hinders you from returning to your former job or prevents you from earning the same amount in the future.

While these costs are clear and measurable, some of the other damages you can claim are less clear. These non-economic damages are often more difficult to quantify and can include things like pain and suffering, disfigurement or loss of enjoyment of life.

How Do You Prove These Damages?

While some of the expenses in these categories are simple and can be proved by receipts and paperwork Certain expenses may require expert testimony. For instance, in situations where an accident leads to serious spinal cord injuries that renders a person partially paralyzed, it might be necessary to consult an occupational specialist to determine the full impact of the injury. This will help the jury or court make an accurate assessment of your financial and personal impact.

The most complex economic losses are those relating to future medical costs and lost earnings. It is possible to document these expenses by utilizing a medical professional's estimate of when you will reach maximum medical improvement, or when your recovery is likely end. However, you'll have to prove the future financial loss by providing pay bills, expense receipts and other proof of your past and present income.

Insurance companies will attempt to avoid paying the entire amount of damages they are legally obliged to pay. A personal injury lawyer who is experienced will ensure that you receive all the compensation you are entitled to. Dennis and King can schedule a no-cost consultation. We can help you seek all of your economic and non-economic damages following a New York car accident or other personal injury accident lawyer.

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