Types of Accident Compensation

Typically, this form of payment covers medical expenses, such as prescription drugs and devices such as physical therapy, surgery and so on. It may also cover loss of future earnings potential.

This kind of compensation is sometimes referred to "general damages." However, determining the value of these damages is difficult because insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable cost of an accident. These include out-of-pocket expenses and losses resulting from the absence of work cost for property damage, and future anticipated financial losses due to disability or injury. Courts and juries typically calculate these costs using documents such as pharmacy receipts, hospital bills and estimates for repairs to vehicles.

These are the direct costs of a crash and are simple to prove. They typically include medical expenses, such as the initial hospital stay, and all follow-up care and treatment. They may also include the cost of a damaged vehicle or other property items such as household and clothing goods. The cost of hiring someone to perform chores around the home or take children to and from school, or other activities may be included also.

Loss of earnings is another important aspect of economic damages. This includes not just your missed wages from the time you were forced to stay home from work due to your injuries, but include the loss of productivity in recovering, as well as any sick days or vacation leave. In certain cases there is a possibility of recovering compensation in the event of a loss of future earnings capacity. This is the case when you are unable to return to your previous job or earn the equivalent amount.

While these costs are transparent and quantifiable, some of the other damages you can claim are less clear. These damages that are not economic can be more difficult to quantify, and include things like pain and discomfort, disfigurement, and loss of enjoyment in life.

How can you show these damages?

While a few of the expenses in these categories are fairly straightforward and can be substantiated by receipts and paperwork, other expenses may require expert testimony. For example, in cases when an paola accident lawsuit results in an extremely severe spinal cord injury that renders a person partially paralyzed, then it could be necessary to speak with an occupational specialist to determine the full impact of the injury. This will aid the jury or the court to determine the full scope of personal and financial implications will be.

The most complex types of economic losses are those that involve future medical expenses and lost earnings. It is possible to document these expenses with the help of a medical professional's estimation of when you'll reach maximum medical improvement, or when your recovery is likely come to an end. You'll need to prove 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 the entire amount of damages they are legally required to pay. A personal injury lawyer who has the right experience can ensure that you get all the compensation damages you are entitled to. Dennis and King will be able to schedule a free consultation. We can assist you with all of non-economic and financial damage resulting from an New York car northport accident attorney or other personal injury incident.