Types of Accident Compensation

This type of compensation typically covers medical costs, including prescription drugs as well as devices, physical therapy and surgeries. The compensation could also be used to cover future earnings.

This kind of compensation could be described as "general damages." It isn't always easy to determine the amount of these damages as insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident lawyer. These include out-of-pocket expenses for lost wages due to missed work damages to property and future financial losses that are expected due to disability or accident injury. These costs are estimated by juries and courts using documents such as hospital bills, pharmacy receipts, and estimates for repairs to vehicles.

These costs are relatively easy to prove and are the most immediate expenses incurred by an accident. They include medical costs, such as the first hospital stay and all subsequent care and treatment. They can also include the cost of repairing a damaged vehicle or other property items, such as household and clothing 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 in these costs and more.

Loss of wages is another common and significant category of economic damages. These include not just missed earnings from the time you were required to stay home from work due to injuries, but they may also take into account lost productivity while recovering and any sick days or accident vacation leave. In some instances you may even be able to claim compensation for the loss of your future earning capacity if your injury prevents you from returning to your previous job or hinders you from earning the same amount in the future.

While these costs are relatively evident and easily quantifiable, many of the other damages that you can claim are less clear. Non-economic damages are more difficult to quantify and include things like pain and discomfort or disfigurement, as well as the loss of enjoyment.

What can you prove to prove these Damages?

While some of the costs in these categories are easy to prove with receipts and documents Other expenses might require expert testimony. For instance, in cases where an accident leads to an extremely severe spinal cord injury that leaves the victim partially paralyzed, it may be necessary to consult an occupational expert to determine the full impact of the injury. This can assist the jury or court to make a precise determination of what your full range of personal and financial impacts will be.

The most complicated economic damages are those that relate to future medical expenses and loss of earnings. It is possible to document these costs using a medical professional's estimate of when you will reach the point of maximum medical improvement or when your recovery is likely be over. You must prove that you are likely to suffer a future financial loss. This can be accomplished by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying the total amount of the damages they have to pay legally. A knowledgeable personal injury lawyer can make sure that you receive all the compensation damages to which are entitled. Dennis and King can schedule a no-cost consultation. We can help you seek the full spectrum of your economic and non-economic damages following an New York car accident or other personal injury accident.