Types of Accident Compensation
This kind of compensation typically covers medical costs, including prescription drugs, devices, physical therapy and surgeries. It could also be used to pay for future earnings.
This type of compensation is often called “general damages.” It can be difficult to determine the value of these damages as insurers employ different methods of calculation.
Economic Damages
Economic damages are the tangible, measurable costs that result from an accident. They include out-of-pocket expenses, lost wages damages to property, and future financial losses resulting from the disability or injury. Courts and Vimeo juries usually calculate these costs by using documents like hospital bills, pharmacy receipts and estimates for repairs to vehicles.
These are the immediate expenses of a crash, and are easy to prove. They usually include medical costs for the initial hospital stay, and all subsequent treatment and care. They can also include the cost of repairing a damaged vehicle or other property items including household and clothing products. The cost of hiring someone to do chores around the house or Vimeo to transport children to and from school, or other activities may be included in these expenses, as well.
Lost wages are another common and significant category of economic damages. They include not just missed wages from the time you were required to stay home from work due to injuries, but also take into account the loss of productivity during recovery and any use of vacation days or sick days. In some cases there is a possibility of recovering compensation for the loss of future earnings capacity. This is the situation if you are unable to return to your previous career or earn the equivalent amount.
While these costs are relatively transparent and quantifiable, some of the other damages you can claim are not as clear. These non-economic damages are more difficult to quantify, and include things like discomfort and pain, disfigurement, and loss of enjoyment.
What can you prove to prove these Damages?
Some expenses can be proved through receipts or paperwork, but others may require expert testimony. For instance, in the event that an pharr accident law firm causes serious spinal cord injuries that leaves a victim partially paralyzed, it might be necessary to consult with an occupational specialist to determine the full impact of the injury. This will assist the jury or court make an accurate determination of what your full range of personal and financial impacts will be.
The most complex economic losses are those related to future medical costs and lost earnings. It may be possible to document these costs by using a medical professional’s assessment of when you’ll achieve the point of maximum medical improvement or when your recovery is likely to end. However, you’ll need to prove your future financial loss by providing pay statements, expense receipts, and other evidence of your present and previous income.
Insurance companies will try to avoid paying the entire amount of damages they must legally pay. A competent personal injury lawyer will ensure 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 help you recover all of your financial and other damages after the occurrence of a New York auto canton accident law firm or personal injury incident.