Types of Accident Compensation

This kind of compensation typically covers medical expenses, such as prescription drugs or devices, physical therapy and surgeries. It can also cover the loss of future earnings potential.

This type of payment can be described as "general damages." However, determining the value of these damages can be difficult because insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident lawsuit. These are expenses that are out of pocket, lost wages, property damage costs, and future financial losses resulting from the disability or injury. These costs are determined by juries and courts based on documents such as hospital bills, pharmacy receipts and estimates for repairs to vehicles.

These are the direct costs of a crash and are simple to prove. They often include medical expenses including the initial hospital stay, and all subsequent care and treatment. These expenses may also include the cost to repair damaged cars or other items of property including household and clothing items. They could also include the cost of hiring someone else to take care of household chores or driving your children to school or extracurricular events.

Lost wages are another common and important type of economic damages. This includes not just your missed wages from the time you were unable to work from work due to your injuries, but they may also include lost productivity while recovering and any vacation days or sick days. In some cases you can recover compensation for the loss of future earning capacity. This is the situation when you are unable to return to your previous job or earn the same amount.

These costs are quite clear and quantifiable. However, other damages that you are able to claim could be less so. These non-economic damages are sometimes more difficult to quantify and may include things like pain and suffering, disfigurement, and loss of enjoyment of life.

What can you do to demonstrate these damages?

While some of the costs in these categories are fairly straightforward and can be proven with receipts and Vimeo documents However, some expenses will require expert testimony. For Vimeo instance, in situations when an great falls accident lawsuit results in a severe spinal cord injury that leaves a victim partially paralyzed, it might be necessary to speak with an occupational expert to determine the full impact of the injury. This can assist the jury or court make an accurate assessment of your financial and personal impact.

The most complex types of economic losses are those that relate to future medical expenses and lost earnings. It is possible to document these costs with the help of a medical professional's estimation of when you will reach the point of maximum medical improvement or when your recovery is likely be over. You must prove that you'll suffer future financial loss. This can be accomplished by making a submission of your pay stubs and expense receipts.

Insurance companies will attempt to avoid paying the full amount of damages that they are legally obliged to pay. A skilled personal injury lawyer will ensure that you receive all the compensation to which you are entitled. Contact Dennis and King today to schedule a free consultation. We can help you seek all of economic and non-economic damage resulting from a New York car accident or other personal injury incident.