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Types of Accident Compensation

This kind of compensation typically covers medical costs, including prescription medications, devices, physical therapy and even surgery. This compensation may include future earnings potential.

This type of compensation is commonly referred to as "general damages." However, determining the amount of these damages can be difficult since insurers employ different calculation methods.

Economic Damages

Economic damages are the tangible and measurable expenses resulting from an accident. They include out-of-pocket expenses, losses from missed work cost for property damage, and future financial losses that are expected due to disability or injury. These costs are estimated by juries and courts based on documents like hospital bills, pharmacy receipts and vehicle repair estimates.

These are the direct costs of a crash and are simple to prove. They usually include medical costs including the initial hospital stay, and all subsequent treatment and care. They may also include the cost of repairing a damaged vehicle or other property items like clothing and household items. They could also include the cost of hiring a person to assist with household chores or transport your children to school or other extracurricular activities.

The loss of wages is an additional important aspect of economic damages. This is not just the income you lost because of your injuries but also any lost productivity during your recovery as well as vacation or sick days. In certain instances you could even receive compensation for the loss of your earning potential in the future If your injury hinders you from returning to your previous job or prevents you from earning the same amount in the future.

While these costs are relatively clear and measurable, some of the other damages you could claim are not as clear. These non-economic damages are more difficult to quantify, and include things like pain and discomfort or disfigurement as well as loss of enjoyment in life.

How can you prove these Damages?

While a few of the expenses within these categories are easy to prove with paperwork and receipts However, some expenses will require expert testimony. For example, in cases where an Accident Law Firm leads to serious spinal cord injuries that leaves a victim partially paralyzed or disabled, it could be necessary to consult an occupational specialist to assess the full impact of the injury. This will assist the court or jury determine the true extent of your financial and personal impact.

The most complicated types of economic damages are those relating to future medical expenses and lost earnings. It may be possible to document these expenses by utilizing a medical professional's estimate of when you'll reach maximum medical improvement, or when your recovery is likely to be over. However, you'll need to prove your future financial loss by providing pay stubs, expense receipts as well as other proof of your present and previous income.

Insurance companies will try to avoid paying the entire amount of damages they are legally required to pay. A skilled personal injury lawyer can make sure that you get all compensation damages to which you are entitled. Contact Dennis and King today to schedule an appointment at no cost. We can help you recover all of your economic as well as other damages following a New York auto accident or personal injury accident lawyers.