Types of Accident Compensation

This type of compensation typically covers medical costs, including prescription medications or devices, physical therapy, and surgery. It may also cover loss of future earnings potential.

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

Economic Damages

Economic damages are the tangible, measurable expenses that result from an accident. These include out-of-pocket expenses, lost wages and property damage costs and financial losses that will come from the injury or disability. Courts and juries usually calculate these costs by using documents like hospital bills, pharmacy receipts and estimates for repairs to vehicles.

These are the direct costs of a crash, and are simple to prove. They include medical expenses, for example, the first hospital stay, and any subsequent treatment and care. These expenses may also include the cost to repair damaged vehicles and other items of property, such as clothing and household products. They could also include the cost of hiring someone else to take care of household chores or driving your children to school or other activities.

The loss of wages is a different important type of economic damage. This is not just the wages you missed because of your injuries but also any lost productivity during your recovery as well as vacation or sick days. In some instances, you can even recover compensation for the loss of your potential earnings in the event that your injury prevents you from returning to your previous career or prevents you from earning the same amount in the future.

The costs are pretty clear and quantifiable. However, other damages that you can claim are less obvious. Non-economic damages are more difficult to quantify, and include things like discomfort and pain or disfigurement as well as loss of enjoyment.

How do you prove these damages?

While some of the costs in these categories are fairly straightforward and can be substantiated by receipts and paperwork Certain expenses may require expert testimony. If an accident attorney results in a severe spinal injury that causes the victim to be partially paralyzed, it might be required to consult with an occupational expert to determine the impact of the injury on the victim. This can assist the court or jury determine the true extent of your financial and personal impact.

The most complicated kinds of economic damages are those relating to future medical expenses and lost earnings. It may be possible to document these expenses using a medical professional's estimate of when you will achieve the point of maximum medical improvement or when your recovery is likely to be over. However, you will need to prove the future financial loss by submitting pay stubs, expense receipts and other proof of your past and present income.

Insurance companies try to keep from paying as much damages as they are required to. A skilled personal injury lawyer will ensure that you receive all the compensation to which you are entitled. Dennis and King will schedule a no-cost consultation. We can help you recover all of your financial as well as other damages following a New York auto accident Law Firms or personal injury incident.