Types of Accident Compensation

Typically, this form of compensation covers medical expenses like prescription drugs and devices such as physical therapy, surgery and so on. The compensation could also cover future earnings potential.

This type of compensation can be described as "general damages." However, determining the amount of these damages can be complicated because insurers use different calculation methods.

Economic Damages

Economic damages are the tangible, quantifiable costs that result from an accident. These include out-of-pocket expenses, lost wages and property damage costs and financial losses that will come from the disability or injury. These costs are determined by juries and courts based on documents such as hospital bills, pharmacy receipts, as well as estimates of repairs to the vehicle.

These costs are relatively easy to prove and are among the most immediate costs associated with an algonac accident law firm. They typically include medical expenses including the initial hospitalization and any follow-up treatment and care. They can also include the cost of repairing a damaged vehicle or other property items, such as household and clothing goods. These expenses could also include the cost of hiring someone else to do housework or drive your children to school or other events.

The loss of wages is an additional important category of economic damages. This includes not only the wages you missed because of your injuries but also any loss of productivity during your recovery, as well as any vacation or sick days. In certain instances you may even be able to claim compensation for the loss of your future earning capacity when your injury stops you from returning to your previous career or prevents you from earning the same amount in the future.

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

How can you show these damages?

Some expenses can be proved by submitting receipts and documents Some expenses can be proven with receipts and paperwork, while others require expert testimony. For instance, in situations when an oak grove accident lawyer results in a severe spinal cord injury that leaves a victim partially paralyzed, then it could be necessary to speak with an occupational specialist to determine the full impact of the injury. This can aid the jury or the court determine the exact extent of your personal and financial impact.

The most complex types of economic losses are those relating to future medical expenses and lost earnings. It is possible to document these costs by using a medical professional's assessment of when you'll achieve maximum medical improvement, or when your recovery is likely be over. But, you'll need to prove your future financial loss by submitting pay stubs, expense receipts and other proof of your past and Fairlawn Accident Attorney present income.

Insurance companies attempt to not pay as much damages as they are obligated to. A personal injury lawyer who has the right experience will ensure you receive all the compensatory damages you are entitled to. Dennis and King can schedule a no-cost consultation. We can help you recover all of your economic and other damages resulting from the occurrence of a New York auto accident or personal injury.