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Types of Accident Compensation

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

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

Economic Damages

Economic damages are the tangible and quantifiable costs resulting from an accident. These include out-of pocket expenses such as lost wages damages to property, and financial losses that will come from the injury or disability. These costs are figured by juries and courts based on documents like hospital bills, pharmacy receipts, and estimates for vehicle repairs.

These costs are fairly simple to prove and are the most immediate expenses that are incurred in a crash. They often include medical expenses for the initial hospitalization and all subsequent care and treatment. They can also include the cost to repair a damaged car or other items of property like clothes and household goods. These expenses can also include the cost of hiring a third party to take care of household chores or driving your children to school or any other extracurricular events.

Lost wages are another common and important category of economic damages. These include not just missing wages from the time you were forced to stay home from work because of injuries, but they can also take into account the loss of productivity in recovering, as well as any use of sick days or vacation leave. In some instances, compensation can be recovered in the event of a loss of future earning capacity. This is the case in the event that you cannot return to your previous career or earn the equivalent amount.

These costs are easily identifiable and measurable. However other damages you are able to claim could be more difficult to prove. Non-economic damages are more difficult to quantify, and include things like discomfort and pain disfigurement, the loss of enjoyment.

What can you do to prove these damages?





While a few of the expenses within these categories are simple and can be proved by receipts and paperwork Certain expenses may require expert testimony. For bryan accident law firm , in cases when an accident results in an extremely severe spinal cord injury which leaves a victim partially paralyzed or disabled, it could be necessary to speak with an occupational specialist to assess the full impact of the injury. This can aid the jury or the court make an accurate assessment of your personal and financial impact.

The most complex economic losses are those relating to future medical expenses and lost earnings. It may be possible to document these costs with the help of a medical professional's estimation of when you will reach maximum medical improvement, or when your recovery will likely end. However, you will need to prove your financial loss by submitting pay stubs, expense receipts and other proof of your current and previous income.

Insurance companies attempt to avoid paying as much in damages as they are legally required to. A knowledgeable personal injury lawyer will ensure that you receive all compensation damages to which you are entitled. Dennis and King will schedule a no-cost consultation. We can assist you in recovering all of your financial and other damages following a New York auto accident or personal injury incident.