Types of Accident Compensation

This type of compensation usually covers medical expenses, including prescription medications as well as devices, physical therapy, and surgeries. It may also cover the loss of future earnings.

This type of compensation is usually referred to as "general damages." It can be difficult to determine the amount of these damages since insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable cost of an accident. These include out-of pocket expenses, lost wages, property damage costs, and future financial losses resulting from the injury or disability. These costs are estimated by juries and courts using documents such as hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These costs are fairly simple to prove and are the most immediate expenses associated with an accident. They usually include medical costs including the initial hospital stay, and all subsequent care and treatment. These expenses may also comprise the cost of repairing a damaged car or other property items, such as clothing and household goods. The cost of hiring someone to perform chores around the house or take children to and from school, or extracurricular activities can be included as well.

The loss of wages is a different important aspect of economic damages. They include not just missed earnings from the time you were unable to work from work due to your injuries, but they could also include lost productivity while recovering and any vacation days or sick days. In some instances you could even receive compensation for the loss of your future earning potential when your injury stops you from returning to your former job or prevents you from earning the same amount in the future.

These costs are easily identifiable and quantifiable. However, other damages that you can claim may be less so. Non-economic damages are more difficult to quantify and include things like pain and discomfort or disfigurement, as well as the loss of enjoyment.

How can you demonstrate these damages?

While a few of the expenses within these categories are simple and can be proved by receipts and paperwork Certain expenses may require expert testimony. For instance, in situations where an accident lawyer leads to a severe spinal cord injury that leaves a victim partially paralyzed, then it could be necessary to consult with an occupational specialist to determine the full impact of the injury. This can assist the jury or court make an accurate determination of what your total financial and personal impacts will be.

The most complicated types of economic damages are those that relate to future medical expenses and lost earnings. It may be possible to document these expenses by using a medical professional's assessment of when you will achieve maximum medical improvement, or when your recovery is likely to end. But, you'll need to prove your financial loss by submitting pay bills, expense receipts and other evidence of your current and previous income.

Insurance companies try to keep from paying as much damages as they are legally required to. A personal injury lawyer who is experienced will ensure you receive all the compensation damages you are entitled to. Dennis and King can schedule a no-cost consultation. We can help you pursue the full spectrum of economic and non-economic damage resulting from an New York car accident or other personal injury accident.