Personal Injury Compensation - How to Get the Compensation You Need
If you're involved in an accident, it is normal to worry about your financial situation. This is especially true when the injuries you sustained are severe.
There are a variety of ways to obtain compensation for your injuries. These include economic and non-economic damages such as pain and suffering.
Economic Damages
Financial compensation is available to anyone who has been injured by the negligence of another party. This compensation is meant to help you return to the lifestyle you had prior to your injury.
In
Personal injury law Firm injury cases, there are two types of monetary damages that you could receive: non-economic and economic. The former is meant to compensate you for monetary losses caused by the accident, whereas the latter is designed to compensate you for the emotional hardships that your accident has caused.
In many cases, a jury or judge will award the victim with economic damages to pay for their lost wages, medical bills as well as rehabilitation services along with the cost of property damage, like repair and replacement. This type of damage can be documented with bills, receipts, and pay stubs.
The negligent conduct of a defendant could result in a range of economic losses. These losses include:
- Loss in Earning Capacity
When a victim is injured and unable to work, their earnings could be significantly affected. They may be forced to take a lower-paying job, or even become permanently disabled.
Future Earning Capacity
This can be a challenging measure as it is dependent on the nature, age, and trends of the victim's job at the moment of the accident. The person may be young and their career that is on the rise, or they might be 58 years old and have a complete retirement plan ahead of them.
- Past Earning Capacity
This is also a challenge for juries, as it requires a thorough analysis of the victim's past job and the possibility for future earnings. A victim might be a recent graduate with a technical career.
In addition, to the loss of wages, the victim could have incurred other expenses like medical bills, car repairs, or even out-of pocket expenses for therapy or medication.
In the end, these expenses will total a significant amount of money. Adding up all these expenses to determine what your economic losses might be will allow you to get an acceptable settlement.
There are many variables that affect the exact amount of your financial damages, and it is important to speak to an experienced
personal injury lawyer injury attorney who is aware of how these damages are calculated and awarded. Your attorney will provide you with a complete list of all your present and future economic losses and also seek the help of experts who can establish an approximate value on these losses in the course of the calculation of your compensation.