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Types of Accident Compensation

This kind of compensation typically covers medical expenses, such as prescription medications as well as devices, physical therapy, and surgery. The compensation could also cover future earnings potential.

This type of compensation is usually referred to as "general damages." It isn't always easy to determine the value of these damages because insurers use different methods for calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident. These include out-of-pocket expenses for lost wages due to missed work damages to property and the potential for future financial losses due to the injury or disability. The courts and juries usually determine these costs using documents such as pharmacy receipts, hospital bills and estimates of vehicle repairs.

These are the immediate costs of a crash and are simple to prove. They often include medical expenses for the initial hospital stay, and all subsequent care and treatment. They may also include the cost of repairing a damaged vehicle or other property items, such as household and clothing items. These expenses could also include the cost of hiring a person to do housework or drive your children to school or any other extracurricular events.

Lost wages are a different and important type of economic damages. This is not just the wages you missed because of your injuries but also any productivity loss during your recovery as well as sick days or vacation leaves. In some instances you may even be able to claim compensation for the loss of your potential earnings if your injury prevents you from returning to your former job or hinders you from earning the same amount in the future.

While these costs are relatively clear and measurable, some of the other damages you may claim are not as clear. These damages that are not economic can be more difficult to quantify, and could include things like pain and suffering, disfigurement and loss of enjoyment of life.

How do you prove these damages?

Certain expenses can be substantiated by submitting receipts and documents Some expenses can be proven with receipts and paperwork, while others require expert testimony. In the event that an accident law firm (https://labo.wodkcity.com) results in a severe spinal injury that causes the victim to be partially paralyzed, then it is required to consult with an occupational specialist to determine how the injury will affect the victim. This will assist the court or jury determine the true extent of your personal and financial impact.

The most complicated economic losses are those that relate to future medical expenses as well as lost earnings. You may be able to record these expenses using a medical professional’s estimate of your greatest medical improvement or when your recovery is expected to end. You will need to prove that you will suffer a future financial loss. This can be accomplished by making a submission of your pay stubs and expense receipts.

Insurance companies try to avoid paying the total amount of damages they have to pay legally. 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 an appointment at no cost. We can assist you with all of non-economic and financial damage resulting from an New York car accident lawsuit or any other personal injury or accident.