Types of Accident Compensation

Typically, this form 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 earning potential.

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

Economic Damages

Economic damages are the tangible, measurable expenses that result from an accident. They include out-of-pocket expenses including lost wages, property damage costs, and future financial losses resulting from the disability or injury. The courts and juries usually determine these costs using documents such as hospital bills, pharmacy receipts and estimates for repairs to vehicles.

These are the direct costs of a crash, and are easy to prove. They usually include medical expenses for vimeo the initial hospital stay, and any follow-up treatment and care. These costs can also include the cost to repair a damaged car or other items of property, including household and clothing products. The cost of hiring someone to perform chores around the home or drive children to and from school or extracurricular activities can be included in these expenses also.

The loss of wages is an additional important category of economic damages. This is not just the wages you have missed due to your injuries, but also any loss of productivity during your recovery and any sick days or vacation leaves. In certain cases, compensation can be recovered in the event of a loss of future earnings capacity. This is the case in the event that you are not able to return to your former career or earn the equivalent amount.

These costs are fairly clear and measurable. However other damages you can claim may be more difficult to prove. These damages that are not economic can be more difficult to quantify and include things like pain and discomfort, disfigurement, and loss of enjoyment.

How can you show these damages?

While some of the costs in these categories are straightforward and can be substantiated by submitting receipts and papers, other expenses may require expert testimony. For instance, in cases where an mount carmel accident lawsuit causes an extensive spinal cord injury which leaves a victim partially paralyzed, it might be necessary to consult with an occupational specialist to determine the full impact of the injury. This can help the jury or court to make a precise assessment of your personal and financial impact.

The most complex economic damages are those related to future medical costs and lost earnings. It is possible to document these costs with the help of a medical professional's estimation of when you'll reach maximum medical improvement, or the time when your recovery will likely be over. You will need to prove that you'll suffer a future financial loss. This can be accomplished by submitting your pay stubs or expense receipts.

Insurance companies try to avoid paying the total amount of damages they are legally required to pay. A personal injury lawyer with experience can ensure you receive all the compensation damages you are entitled to. Dennis and King can schedule a no-cost consultation. We can assist you in pursuing the full spectrum of non-economic and financial damage resulting from an New York car accident or any other personal injury or accident.