Types of Accident Compensation

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

This type of payment can be referred to as "general damages." However, determining the value of these damages is difficult since insurers employ different calculation methods.

Economic Damages

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

These expenses are relatively simple to prove and are among the most immediate expenses incurred by the event of a crash. They typically include medical expenses like the initial hospital stay, and all follow-up care and treatment. These costs can also include the cost to repair damaged cars or other items of property, such as clothes and household products. These expenses can also include the cost of hiring a third party to assist with household chores or transport your children to school or any other extracurricular events.

Lost wages are another common and important category of economic damages. These include not only your lost wages due to the fact that you were unable to work from work due to your injuries, but they could also take into account lost productivity while recovering and any use of vacation or sick days. In certain instances, you can even recover compensation for the loss of your future earning potential when your injury stops you from returning to your former job or hinders you from earning the same amount in the future.

These costs are easily identifiable and quantifiable. However, other damages that you can claim are less obvious. These non-economic damages are often more difficult to quantify and may include things like pain and suffering, disfigurement, and loss of enjoyment of life.

How Do You Prove These Damages?

While some of the expenses within these categories are easy to prove by receipts and paperwork However, some expenses will require expert testimony. For instance, in cases when an Willow Springs xenia accident lawyer Lawsuit [Vimeo.Com] results in an extremely severe spinal cord injury that leaves a victim partially paralyzed, it may be necessary to speak with an occupational specialist to assess the full impact of the injury. This will aid the jury or the court determine the exact extent of your financial and personal impact.

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

Insurance companies will attempt to avoid paying the entire amount of damages they are legally required to pay. A seasoned personal injury lawyer can make sure that you receive all the compensation to which you are entitled. Contact Dennis and King today to set up an appointment for a no-cost consultation. We can assist you in pursuing the full spectrum of your non-economic and economic damage resulting from a New York car logansport accident attorney or other personal injury accident.