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Types of Accident Compensation

Typically, this form of compensation is used to pay for medical expenses such as prescription devices and drugs such as physical therapy, surgery and so on. It can also cover the loss of future earnings.

This type of compensation can be described as "general damages." It isn't always easy to determine the value of these damages as insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable expenses resulting from an accident lawsuits. They include out-of-pocket expenses as well as the loss resulting from a missed work damages to property and future anticipated financial losses due to disability or injury. These costs are figured by juries and courts based on documents such as hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These are the immediate expenses of a crash, and are simple to prove. They include medical costs, like the initial hospitalization, as well as any subsequent treatment and care. They could also include the cost of repairing a damaged vehicle or other property items, such as clothing and household goods. The cost of hiring someone to take care of chores around the house or drive children to and from school, or extracurricular activities can be included as well.

Lost wages are a different and significant category of economic damages. This is not just the income you lost due to your injuries, but also any productivity loss during your recovery as well as sick days or vacation leaves. In some cases you can recover compensation for the loss of future earnings capacity. This is the situation if you are unable to resume your previous work or earn the same amount.

These costs are fairly clear and quantifiable. However other damages you can claim may be less clear. These non-economic damages can be more difficult to quantify and include things like pain and discomfort or disfigurement as well as loss of enjoyment in life.

What can you prove to prove these Damages?

While some of the expenses in these categories are fairly straightforward and can be proven by receipts and paperwork, other expenses may require expert testimony. In the event that an accident causes a severe spinal injury that causes the victim to be partially paralyzed, then it is necessary to consult an occupational specialist to determine the impact of the injury on the victim. This can aid the jury or the court determine with certainty what your full range of personal and financial implications will be.

The most complicated forms of economic damages are those that relate to future medical expenses and lost earnings. You may be able to document these costs by using a medical professional’s estimation of your maximum improvement in your medical condition or when your recovery is likely to be over. You must prove that you are likely to suffer a future financial loss. This can be done by making a submission of your pay stubs and expense receipts.

Insurance companies will try to avoid paying the full amount of damages that they have to pay legally. A personal injury lawyer who has the right experience can ensure you receive all the compensation damages you are entitled to. Contact Dennis and King today to set up an initial consultation for free. We can help you recover all of your financial and other damages resulting from a New York auto Accident Law Firm or personal injury.