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Types of Accident Compensation





Typically, this type of compensation covers medical expenses like prescription devices and drugs, physical therapy and surgery. It could include future earnings potential.

This kind of compensation is sometimes referred to "general damages." However, determining the value of these damages can be difficult as insurers use different calculation methods.

Economic Damages

Economic damages are the tangible and quantifiable costs associated with an accident. They include out-of-pocket expenses such as lost wages as well as property damage costs and financial losses that will come from the disability or injury. These costs are calculated by juries and courts using documents such as hospital bills, pharmacy receipts, as well as estimates of repairs to the vehicle.

These are the immediate expenses of a crash, and are easy to prove. They usually include medical expenses like the initial hospitalization and all subsequent treatment and care. They can also comprise the cost of repairing a damaged car or other property items, like clothes and household items. They could also include the cost of hiring someone else to assist with household chores or transport your children to school or other events.

Loss of earnings is another important type of economic loss. These include not only your missed wages from the time you had to stay home from work because of injuries, but be a factor in the loss of productivity during recovery and any sick days or vacation leave. In certain instances, you can even recover compensation for the loss of your future earning capacity if your injury prevents you from returning to your previous career or prevents you from earning the same amount in the future.

These costs are easily identifiable and measurable. However other damages you can claim may be less obvious. palmdale accident attorneys -economic damages are sometimes more difficult to quantify and can include things like pain and suffering, disfigurement and loss of enjoyment.

How Do You Prove These Damages?

Certain expenses can be established by submitting receipts and documents Some expenses can be proven with receipts and paperwork, while others require expert testimony. If an accident results in a severe spinal injury that leaves the victim partially paralyzed it may be required to consult with an occupational specialist to determine how the injury will affect the victim. This will help the jury or court make an accurate assessment of your financial and personal impact.

The most complicated forms of economic damages are those relating to future medical expenses and lost earnings. You may be able prove these expenses by using a medical professional’s estimate of your maximum improvement in your medical condition or when your recovery is expected to be over. However, you'll have to prove your financial loss by submitting pay statements, expense receipts, and other proof of your current and previous income.

Insurance companies are trying to avoid paying as much in damages as they are legally required to. A knowledgeable personal injury lawyer can ensure that you receive the compensatory damages to which you are entitled. Dennis and King will be able to schedule a free consultation. We can assist you with all of economic and non-economic damage resulting from an New York car accident or other personal injury accident.