Types of
Accident Compensation
This type of compensation usually covers medical expenses, such as prescription drugs or devices, physical therapy and surgeries. It may also cover the loss of future earnings.
This type of compensation is sometimes referred to "general damages." However, determining the value of these damages can be difficult since insurers employ different calculation methods.
Economic Damages
Economic damages are the tangible and quantifiable cost of an accident. These include out-of pocket expenses like lost wages damages to property, and financial losses that will come from the disability or injury. Juries and courts usually calculate these costs using documents such as pharmacy receipts, hospital bills and vehicle repair estimates.
These expenses are relatively simple to prove and are among the most immediate expenses that are incurred in an
accident attorney. They include medical costs, like the initial hospitalization and any subsequent treatment and care. They can also include the cost of repairing a damaged vehicle or other property items such as clothing and household products. The cost of hiring someone to perform chores around the home or transport children to and from school or extracurricular activities could be included in these costs and more.
Lost wages are a different and important type of economic damages. This is not just the wages you missed due to your injuries, but also any productivity loss while you recover, and any sick days or vacation leaves. In certain instances you could even receive compensation for the loss of your future earning potential in the event that your injury prevents you from returning to your previous job or hinders you from earning the same amount in the future.
These costs are fairly clear and measurable. However other damages you can claim may be less obvious. These damages that are not economic can be more difficult to quantify and include things like discomfort and pain disfigurement, loss of enjoyment.
How do you prove the damage?
Certain expenses can be established by submitting receipts and documents, but others may require expert testimony. For example, in cases where an accident leads to an extremely severe spinal cord injury that leaves a victim partially paralyzed or disabled, it could be necessary to consult with an occupational specialist to assess the full impact of the injury. This will help the jury or court make an accurate assessment of your personal and financial impact.
The most complicated forms of economic losses are those that relate to future medical expenses and lost earnings. It is possible to document these costs by utilizing a medical professional's estimate of when you will achieve maximum medical improvement, or when your recovery is likely come to an end. However, you'll need to prove your financial loss by providing pay invoices, stubs and other proof of your past and present income.
Insurance companies try to avoid paying the full amount of damages that they are legally required to pay. A personal injury lawyer who has the right experience will ensure you receive all of the compensatory damages you are entitled to. Dennis and King can set up a free consultation. We can assist you in pursuing the full range of your non-economic and economic injuries resulting from a New York car accident or other personal injury
accident lawsuit.