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Types of Accident Compensation

Typically, this kind of compensation covers medical bills including prescription drugs and devices such as physical therapy, surgery and so on. It can also cover the loss of future earnings.

This type of compensation is usually referred to as "general damages." It can be challenging to determine the amount of these damages because insurers have different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable cost of an accident (Read the Full Piece of writing). These include out-of pocket expenses, lost wages and property damage costs and financial losses that will come from the disability or injury. These costs are estimated by juries and courts based on documents like hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These expenses are relatively simple to prove and are among the most immediate costs associated with an accident. They cover medical expenses such as the first hospitalization, as well as any subsequent care and treatment. These expenses may also comprise the cost of repairing a damaged car or other property items, such as clothes and household products. The cost of hiring someone to perform chores around the house or to transport children to and from school or extracurricular activities can be included in these expenses, as well.

Loss of wages is another common and accident important category of economic damages. This includes not only the wages you have missed due to your injuries but also any productivity loss during your recovery, as well as any vacation or sick days. In certain instances, you can even recover compensation for the loss of your future earning potential If your injury hinders you from returning to your former job or prevents you from earning the same amount in the future.

While these costs are relatively evident and easily quantifiable, many of the other damages you can claim are less so. These non-economic damages are often more difficult to quantify and can include things like pain and suffering, disfigurement and loss of enjoyment of life.

How can you demonstrate these damages?

Certain expenses can be established by submitting receipts and documents Some expenses can be proven with receipts and paperwork, while others require expert testimony. For instance, in cases where an accident lawyer leads to an extensive spinal cord injury that leaves the victim partially paralyzed, then it could be necessary to speak with an occupational specialist to assess the full impact of the injury. This will help the jury or court determine the true extent of your personal and financial impact.

The most complicated forms of economic damages are those that involve future medical expenses and accident lost earnings. It may be possible to document these costs using a medical professional's estimate of when you will reach the point of maximum medical improvement or when your recovery will likely be over. You must prove that you will suffer a future financial loss. This can be done by sending in your pay stubs, or expense receipts.

Insurance companies will try to avoid paying the total amount of damages they must legally pay. A personal injury lawyer with experience will ensure that you receive all the compensation you are entitled to. Contact Dennis and King today to set up a free consultation. We can assist you in pursuing the full range of non-economic and financial damages after an New York car accident lawyers or other personal injury accident.