Types of Accident Compensation

Typically, this kind of compensation is used to pay for medical expenses such as prescription devices and drugs, physical therapy and surgery. It may also cover loss of future earnings potential.

This kind of compensation could be referred to as "general damages." However, determining the value of these damages is complicated because insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable costs associated with an accident. These include out-of pocket expenses like lost wages as well as property damage costs and financial losses that will come from the disability or injury. Juries and courts usually calculate these costs by using documents like pharmacy receipts, hospital bills and estimates for repairs to vehicles.

These expenses are relatively simple to prove and are the most immediate costs associated with an accident. They include medical costs, such as the first hospitalization and any subsequent treatment and care. They can also include the cost of repairs to a damaged vehicle or other property items, like clothing and household items. The cost of hiring someone to perform chores around the house or take children to and from school or extracurricular activities could be included as well.

Loss of wages is another common and significant category of economic damages. This is not just the income you lost due to your injuries, but also any loss of productivity while you recover, and any vacation or sick days. In some cases you may even be able to claim compensation for the loss of your potential earnings in the event that your injury prevents you from returning to your former job or hinders you from earning the same amount in the future.

While these costs are relatively transparent and quantifiable, some of the other damages you can claim are not as clear. These damages that are not economic can be more difficult to quantify and could include things like pain and suffering, disfigurement or loss of enjoyment.

How Do You Prove These Damages?

Certain expenses can be proven with receipts and paperwork However, others might require expert testimony. For instance, in cases where an accident leads to an extensive spinal cord injury that leaves the victim partially paralyzed, it might be necessary to speak with an occupational specialist to assess the full impact of the injury. This will assist the court or jury to make a precise assessment of your personal and financial impact.

The most complex economic damages are those relating to future medical expenses and lost earnings. It may be possible to document these expenses using a medical professional's estimate of when you'll reach maximum medical improvement, or when your recovery is likely come to an end. However, you'll need to prove your future financial loss by providing pay invoices, stubs as well as other proof of your present and previous income.

Insurance companies will attempt to avoid paying the total amount of the damages they have to pay legally. A competent personal injury lawyer will ensure that you get all compensatory damages to which you are entitled. Contact Dennis and King today to schedule an appointment for a no-cost consultation. We can assist you with all of your non-economic and economic damages following an New York car accident or accident other personal injury accident lawsuit.