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Types of Accident Compensation

Typically, this type of compensation covers medical expenses like prescription drugs and devices as well as physical therapy and surgery. This compensation may also cover future earnings potential.

This type of payment can be described as "general damages." It can be challenging to determine the amount of these damages since insurers have different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable costs resulting from an accident. They include out-of-pocket expenses and losses resulting from the absence of work as well as property damage costs. future financial losses attributed to the disability or injury. These costs are figured by juries and courts based on documents like hospital bills, accident pharmacy receipts, and estimates for vehicle repairs.

These costs are relatively easy to prove and are the most immediate costs associated with an accident. They often include medical expenses including the initial hospital stay, and any follow-up treatment and care. These costs can also include the cost of fixing damaged vehicles and other property items, such as clothing and household products. These expenses could also include the cost of hiring a third party to take care of household chores or driving your children to school or other extracurricular activities.

The loss of wages is a different important category of economic damages. This is not just the wages you have missed due to your injuries, but also the lost productivity during your recovery and any vacation or sick days. In some cases, you can even recover compensation for the loss of your future earning capacity in the event that your injury prevents you from returning to your previous job or hinders you from earning the same amount in the future.

While these expenses are transparent and quantifiable, some of the other damages you can claim are less clear. These damages that are not economic can be more difficult to quantify and include things like discomfort and pain or disfigurement, as well as loss of enjoyment.

How can you prove these Damages?

While some of the expenses in these categories are fairly simple and can be proved by submitting receipts and papers Other expenses might require expert testimony. For instance, in situations where an accident leads to a severe spinal cord injury that renders a person partially paralyzed, it may be necessary to consult with an occupational specialist to determine the full impact of the injury. This can aid the jury or the court to make a precise assessment of your financial and personal impact.

The most complicated economic losses are those that relate to future medical costs and lost earnings. It is possible to document these expenses with the help of a medical professional's estimation of when you'll achieve the point of maximum medical improvement or when your recovery is likely to end. You will need to prove that you'll suffer a future financial loss. This can be done by submitting your pay stubs or expense receipts.

Insurance companies attempt to avoid paying as much damages as they are obligated to. A personal injury lawyer with experience will ensure you receive all of the compensatory damages you are entitled to. Contact Dennis and King today to schedule an appointment at no cost. We can help you seek the full spectrum of your non-economic and economic damage resulting from a New York car accident lawyer or other personal injury accident.