Types of Accident Compensation

This type of compensation typically covers medical costs, including prescription drugs and devices, physical therapy, and surgery. This compensation may include future earnings potential.

This type of compensation may be described as "general damages." However, determining the amount of these damages is difficult because insurers employ different calculation methods.

Economic Damages

Economic damages are the tangible, quantifiable costs that result from an accident. These include out-of-pocket expenses and losses resulting from the absence of work damages to property and the potential for accident future financial losses due to the disability or injury. The courts and juries usually determine these costs using documents such as pharmacy receipts, hospital bills and estimates for repairs to vehicles.

These are the immediate expenses of a crash and are easy to prove. They cover medical expenses such as the first hospitalization, as well as any subsequent treatment and care. They could also include the cost of a damaged vehicle or other property items, such as household and clothing goods. These expenses could also include the cost of hiring a person to do housework or drive your children to school or other activities.

Lost wages are another common and significant category of economic damages. This includes not only the lost wages because of your injuries but also any lost productivity during your recovery and any vacation or sick days. In some instances you can recover compensation in the event of a loss of future earning capacity. This is the case if you are unable to resume your previous work or earn the same amount.

These costs are quite clear and accidents measurable. However other damages you are able to claim could be less so. These non-economic damages can be more difficult to quantify and can include things like pain and suffering, disfigurement, and loss of enjoyment of life.

How do you prove the damage?

Some expenses can be proved by means of receipts and papers however, some expenses may require expert testimony. In the event that an accident law firm causes severe spinal injury that renders the victim partially paralyzed, it might be necessary to consult an occupational expert to determine the impact of the injury on the victim. This can assist the jury or court determine with certainty what your total personal and financial consequences will be.

The most complicated economic damages are those that involve future medical expenses and loss of earnings. It is possible to document these expenses by utilizing a medical professional's estimate of when you'll reach the point of maximum medical improvement or when your recovery will likely end. You'll need to show that you'll suffer future financial loss. This can be accomplished by sending in your pay stubs, or expense receipts.

Insurance companies are trying to avoid paying as much damages as they are obligated to. A personal injury lawyer with experience 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 the full spectrum of your economic and non-economic damages after an New York car accident or another personal injury event.