Types of Accident Compensation

This type of compensation typically includes medical expenses, which include prescription medications and devices, physical therapy, and surgeries. This type of compensation can also cover future earnings potential.

This kind of compensation is often called "general damages." It isn't always easy to determine the value of these damages since insurers use different methods for calculation.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident. These include out-of pocket expenses including lost wages damages to property, and future financial losses resulting from the injury or disability. Juries and courts usually calculate these costs based on documentation such as pharmacy receipts, hospital bills and estimates for repairs to vehicles.

These costs are relatively easy to prove and are among the most immediate expenses associated with an accident lawsuits. They typically include medical expenses including the initial hospital stay, and all subsequent care and treatment. These costs can also comprise the cost of repairing damaged vehicles or other property items, such as clothes and accident household goods. These expenses can also include the cost of hiring a third party to assist with household chores or transport your children to school or other events.

Loss of wages is another important type of economic damage. This includes not only the income you lost due to your injuries, but also any lost productivity during your recovery as well as sick days or vacation leaves. In some instances you can recover compensation in the event of a loss of future earning capacity. This is the case if you are unable to return to your previous career or earn the equivalent amount.

While these costs are evident and easily quantifiable, many of the other damages you could assert are less clear. These non-economic damages can be more difficult to quantify and include things like pain and discomfort or disfigurement as well as loss of enjoyment in life.

How Do You Prove These Damages?

Certain expenses can be established by submitting receipts and documents However, others might require expert testimony. For instance, in cases where an accident leads to an extensive spinal cord injury that leaves a victim partially paralyzed, it may be necessary to consult an occupational specialist to assess the full impact of the injury. This will help the jury or court make an accurate assessment of your personal and financial impact.

The most complicated economic damages are those that involve future medical costs and lost earnings. It is possible to document these expenses by using a medical professional's assessment of when you'll reach maximum medical improvement, or when your recovery is likely to end. But, you'll need to prove your financial loss by submitting pay stubs, expense receipts and other proof of your present and previous income.

Insurance companies will try to avoid paying the entire amount of damages they have to pay legally. A personal injury lawyer who is experienced can ensure that you get all the compensatory damages you are entitled to. Dennis and King can schedule a no-cost consultation. We can assist you in pursuing all of non-economic and financial damages following a New York car accident or other personal injury accident.