Types of Accident Compensation

Typically, this type compensation covers medical expenses like prescription devices and drugs such as physical therapy, surgery and so on. The compensation could also be used to cover future earnings.

This type of compensation can be referred to as "general damages." However, determining the amount of these damages can be difficult because insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident. These include out-of-pocket expenses, lost wages damages to property, and future financial losses resulting from the injury or disability. These costs are estimated by juries and courts using documents such as hospital bills, pharmacy receipts, and estimates of repairs to the vehicle.

These costs are fairly simple to prove and are the most immediate expenses that are incurred in a crash. They include medical expenses, such as the first hospital stay, Accident lawyers and any subsequent treatment and care. These expenses can also include the cost of repairing damaged vehicles and other items of property, like clothes and household goods. They could also include the cost of hiring a person to assist with household chores or transport your children to school or any other extracurricular events.

Loss of wages is another important category of economic damages. This is not just the lost wages due to your injuries, but also the lost productivity during your recovery as well as sick days or vacation leaves. In certain cases you can recover compensation for the loss of future earning capacity. This is the case if you are unable to return to your previous career or earn the equivalent amount.

These costs are fairly clear and measurable. However, other damages that you can claim are less so. These damages that are not economic can be more difficult to quantify, and could include things like pain and suffering, disfigurement and loss of enjoyment of life.

What can you do to prove these damages?

Certain expenses can be proven through receipts or paperwork However, others might require expert testimony. For instance, accident in cases when an accident results in an extensive spinal cord injury that leaves the victim partially paralyzed or disabled, it could be necessary to speak with an occupational specialist to determine the full impact of the injury. This will help the jury or court determine the exact extent of your personal and financial impact.

The most complicated economic damages are those related to future medical costs and lost earnings. It may be possible to document these expenses using a medical professional's estimate of when you will reach maximum medical improvement, or when your recovery is likely to come to an end. You will need to prove that you are likely to suffer a future financial loss. This can be done by submitting your pay stubs or expense receipts.

Insurance companies will try to avoid paying the entire amount of damages they are legally required to pay. A personal injury lawyer who is skilled will ensure you receive all the compensation damages you are entitled to. Dennis and King will schedule a no-cost consultation. We can help you recover all of your financial as well as other damages following a New York auto accident lawsuit or personal injury.