Types of Accident Compensation

This type of compensation typically covers medical costs, including prescription drugs or devices, physical therapy, and even surgery. It can also cover the loss of future earning potential.

This kind of compensation is usually referred to as "general damages." However, determining the value 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. They include out-of-pocket expenses and losses resulting from the absence of work cost for property damage, and future financial losses attributed to the disability or injury. These costs are figured by juries and courts based on documents like hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These are the immediate expenses of a crash, and accident law firms are easy to prove. They usually include medical costs, accident law firms such as the initial hospital stay, and all subsequent care and treatment. They may also include the cost of repairs to a damaged vehicle or other property items, such as household and clothing items. They could also include the cost of hiring someone else to help with housework or driving your children to school or extracurricular events.

Loss of earnings is another important type of economic loss. They include not just missed earnings from the time you were forced to stay home from work because of injuries, but be a factor in the loss of productivity in recovering, as well as any use of vacation or sick leave. In certain instances you could even receive compensation for the loss of your future earning capacity when your injury stops you from returning to your previous job or hinders you from earning the same amount in the future.

While these expenses are clear and measurable, some of the other damages you can claim are less clear. These non-economic damages can be more difficult to quantify, and could include things like pain and suffering, disfigurement and loss of enjoyment of life.

How Can You Prove These Damages?

Certain expenses can be established with receipts and paperwork however, some expenses may require expert testimony. If an accident Law firms results in a severe spinal injury that renders the victim partially paralyzed, then it is necessary to consult an occupational specialist to determine the impact of the injury on the victim. This will help the jury or court determine the exact extent of your personal and financial impact.

The most complicated types of economic losses are those that concern future medical expenses and lost earnings. You may be able to document these costs by using a medical professional’s estimate of your best medical improvement or when your recovery is expected to be over. You'll need to show that you'll suffer a future financial loss. This can be accomplished by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying as much in damages as they are obligated to. A personal injury lawyer who is skilled can ensure you receive all of the compensatory damages you are entitled to. Dennis and King will schedule a no-cost consultation. We can help you seek the full range of economic and non-economic damage resulting from an New York car accident or other personal injury incident.