Types of Accident Compensation

This type of compensation typically includes medical expenses, which include prescription drugs and devices, physical therapy and surgeries. It could also be used to cover future earnings.

This type of payment can be described as "general damages." It isn't always easy to determine the value of these damages 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 as well as the loss resulting from a missed work cost for property damage, and future anticipated financial losses due to the disability or injury. These costs are figured by juries and courts using documents like hospital bills, pharmacy receipts, Accident law Firms as well as estimates for repairs to vehicles.

These expenses are relatively simple to prove and are the most immediate expenses associated with an accident lawsuits. They usually include medical costs, such as the initial hospital stay, and all subsequent care and treatment. They can also include the cost to repair damaged vehicles or other items of property, such as clothing and household products. These costs can also include the cost of hiring a third party to do housework or drive your children to school or other extracurricular events.

The loss of wages is an additional important category of economic damages. This includes not just your lost wages due to the fact that you had to stay home from work because of injuries, but they can also take into account lost productivity while recovering and any vacation days or sick days. In certain cases there is a possibility of recovering compensation for the 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 expenses are clear and measurable, some of the other damages you could claim are less so. These non-economic damages are sometimes more difficult to quantify and may include things like pain and suffering, disfigurement or loss of enjoyment of life.

How Can You Prove These Damages?

While some of the costs within these categories are straightforward and Accident Law firms can be proven with receipts and documents, other expenses may require expert testimony. In cases where an accident results in a severe spinal injury that causes the victim to be partially paralyzed, then it is necessary to consult an occupational expert to determine the impact of the injury on the victim. This will aid the jury or the court to make a precise assessment of your financial and personal impact.

The most complicated types of economic losses are those relating to future medical expenses and lost earnings. You might be able to record these expenses using a medical professional's estimation of your maximum improvement in your medical condition or when your recovery is expected to be over. However, you'll have to prove the future financial loss by submitting pay bills, expense receipts and other evidence of your current and past income.

Insurance companies will attempt to avoid paying the entire amount of damages they have to pay legally. A seasoned personal injury lawyer can ensure that you receive all compensatory damages to which you are entitled. Dennis and King can set up a free consultation. We can help you recover all of your economic and other damages following an New York auto Accident law firms or personal injury accident law firm.