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Types of Accident Compensation

Typically, this type compensation covers medical expenses like prescription drugs and devices such as physical therapy, surgery and so on. This compensation may also be used to cover future earnings.

This type of compensation may be described as "general damages." However, determining the amount of these damages is difficult as insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable costs resulting from an accident. These are expenses that are out of pocket, lost wages as well as property damage costs and financial losses that will come from the disability or injury. Courts and juries typically calculate these costs using documents such as hospital bills, pharmacy receipts and estimates for repairs to vehicles.

These costs are fairly simple to prove and are among the most immediate costs associated with an accident. They usually include medical expenses for the initial hospitalization and any follow-up treatment and care. These expenses can also include the cost of repairing damaged vehicles and other property items, such as clothes and household goods. The cost of hiring someone to take care of chores around the house or take children to and from school, or extracurricular activities can be included in these expenses as well.

Lost wages are another common and significant category of economic damages. This includes not just your missed earnings from the time you were forced to stay home from work because of injuries, but also take into account the loss of productivity during recovery and any vacation days or sick days. In some cases there is a possibility of recovering compensation for the loss of future earning capacity. This is the case in the event that you are not able to resume your previous work or earn the same amount.

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

How can you demonstrate these damages?

While a few of the expenses in these categories are straightforward and can be proven by receipts and paperwork Certain expenses may require expert testimony. For instance, in cases where an accident leads to a severe spinal cord injury which leaves a victim partially paralyzed or disabled, it could be necessary to speak with an occupational specialist to determine the full impact of the injury. This will assist the jury or court make an accurate assessment of your financial and personal impact.

The most complicated types of economic losses are those that relate to future medical expenses and lost earnings. It is possible to document these expenses using a medical professional's estimate of when you will achieve maximum medical improvement, or when your recovery will likely end. But, you'll need to prove your future financial loss by providing pay invoices, stubs as well as other proof of your present and previous income.

Insurance companies try to avoid paying the total amount of damages they are legally required to pay. A personal injury lawyer with experience can ensure that you get all the compensation you are entitled to. Contact Dennis and King today to set up an appointment for a no-cost consultation. We can help you seek the full spectrum of economic and non-economic damages after a New York car accident or other personal injury accident attorney.