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Types of Accident Compensation

This type of compensation usually covers medical costs, including prescription medications and devices, physical therapy, and surgery. It can also cover the loss of future earnings potential.

This type of compensation is sometimes referred to "general damages." It isn't always easy to determine the value of these damages since insurers have different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident. These include out-of pocket expenses and losses resulting from the absence of work cost for property damage, and future financial losses attributed to disability or injury. These costs are determined by juries and courts using documents such as hospital bills, pharmacy receipts and vehicle repair estimates.

These are the immediate expenses of a crash and are simple to prove. They typically include medical expenses, such as the initial hospitalization and all follow-up care and treatment. They can also include the cost of repairs to a damaged vehicle or other property items such as clothing and household goods. The cost of hiring a person to do chores around the home or take children to and from school or other activities may be included in these expenses and more.

The loss of wages is a different important aspect of economic damages. This includes not only the income you lost due to your injuries, but also any lost productivity during your recovery and any sick days or vacation leaves. In some cases, you can even recover compensation for the loss of your potential earnings in the event that your injury prevents you from returning to your previous job or stops you from earning the same amount in the future.

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

How Can You Prove These Damages?

Certain expenses can be substantiated through receipts or paperwork However, others might require expert testimony. In cases where an accident law firms causes severe spinal injury that renders the victim partially paralyzed, it could be necessary to consult an occupational expert to determine how the injury will affect the victim. This can assist the jury or court determine the exact extent of your financial and personal impact.

The most complex economic losses are those relating to future medical costs and lost earnings. It may be possible to document these expenses by utilizing a medical professional's estimate of when you will achieve maximum medical improvement, or when your recovery is likely to end. But, you'll need to prove your future financial loss by submitting pay statements, expense receipts, and other proof of your current and previous income.

Insurance companies will attempt to avoid paying the total amount of damages they must legally pay. A competent personal injury lawyer can make sure that you receive all compensation damages to which you are entitled. Dennis and King will be able to schedule a free consultation. We can assist you with all of your non-economic and economic damages following an New York car accident or another personal injury event.