Types of Accident Compensation

This kind of compensation typically covers medical costs, including prescription drugs or devices, physical therapy, and surgeries. It may also cover the loss of future earnings.

This kind of compensation is often called "general damages." It can be difficult to determine the value of these damages since insurers use different methods for calculation.

Economic Damages

Economic damages are the tangible and measurable expenses resulting from an accident law firm. These include out-of-pocket expenses, losses from missed work, property damage costs and the potential for future financial losses due to disability or injury. These costs are estimated by juries and courts based on documents like hospital bills, pharmacy receipts and vehicle repair estimates.

These expenses are relatively simple to prove and are the most immediate expenses that are incurred in an accident. They often include medical expenses including the initial hospitalization and all subsequent care and treatment. They may also include the cost of repairs to a damaged vehicle or other property items, like clothing and household goods. These costs can also include the cost of hiring a third party to do housework or drive your children to school or other events.

The loss of wages is an additional important type of economic loss. This includes not only the wages you missed because of your injuries but also any productivity loss during your recovery, as well as any sick days or vacation leaves. In some instances there is a possibility of recovering compensation in the event of a loss of future earnings capacity. This is the case when you are unable to return to your former career or earn the equivalent amount.

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

What can you prove to prove these Damages?

Certain expenses can be proven by submitting receipts and documents, but others may require expert testimony. If an accident attorney causes severe spinal injury that renders the victim partially paralyzed, it could be required to consult with an occupational specialist to determine the impact of the injury on the victim. This will assist the jury or court make an accurate assessment of your personal and financial impact.

The most complex economic losses are those related to future medical expenses and lost earnings. It may be possible to document these expenses with the help of a medical professional's estimation of when you will reach maximum medical improvement, or when your recovery is likely to come to an end. However, you'll have to prove the future financial loss by providing pay invoices, stubs and other evidence of your past and Accident Law Firm present income.

Insurance companies are trying to not pay as much damages as they are obligated to. A competent personal injury lawyer will ensure that you receive all the compensatory damages to which you are entitled. Dennis and King will be able to schedule a free consultation. We can help you pursue all of your economic and non-economic damages after an New York car accident or other personal injury accident lawsuits.