Types of Accident Compensation
Typically, this form of payment covers medical expenses, such as prescription drugs and devices as well as physical therapy and surgery. The compensation could also cover future earnings potential.
This type of compensation is sometimes referred to “general damages.” However, determining the value of these damages is difficult because insurers employ different methods of calculation.
Economic Damages
Economic damages are the tangible and measurable expenses resulting from an accident. These include out-of pocket expenses for lost wages due to missed work damages to property and future financial losses attributed to the disability or injury. These costs are estimated by juries and courts based on documents like hospital bills, pharmacy receipts, and estimates for vehicle repairs.
They are fairly easy to prove and are among the most immediate expenses that are incurred in a crash. They cover medical expenses, for example, the first hospital stay, and any subsequent treatment and care. They can also include the cost to repair a damaged car or other property items, such as clothes and household goods. They could also include the cost of hiring a person to help with housework or driving your children to school or other extracurricular activities.
Lost wages are another common and significant category of economic damages. This is not just the wages you missed due to your injuries but also any lost productivity during your recovery, as well as any sick days or vacation leaves. In some cases, compensation can be recovered for the loss of future earnings capacity. This is the situation when you are unable to return to your previous job or earn the same amount.
While these expenses are clear and measurable, some of the other damages you may assert are less clear. These damages that are not economic can be more difficult to quantify and can include things like pain and suffering, disfigurement, and loss of enjoyment.
How can you demonstrate these damages?
While a few of the expenses in these categories are straightforward and can be substantiated by submitting receipts and papers However, some expenses will require expert testimony. In the event that an danville accident lawsuit causes a severe spinal injury that causes the victim to be partially paralyzed, it could be required to consult with an occupational specialist to determine the impact of the injury on the victim. This can help the court or jury make an accurate determination of what your total personal and financial implications will be.
The most complicated types of economic damages are those that relate to future medical expenses and lost earnings. It is possible to document these costs with the help of a medical professional’s estimation of when you’ll reach the point of maximum medical improvement or when your recovery is likely end. You’ll need to prove that you are likely to suffer a future financial loss. This can be accomplished by providing your pay stubs or expense receipts.
Insurance companies attempt to keep from paying as much damages as they are obligated to. A competent personal injury lawyer will ensure that you receive all the compensation damages to which you are entitled. Dennis and King can set up a free consultation. We can assist you in pursuing the full range of economic and non-economic damages following an New York car West pittston accident lawyer or another personal injury event.
