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Types of Accident Compensation

This type of compensation usually covers medical costs, including prescription medications and devices, physical therapy, and surgery. It could also cover the loss of future earnings.

This type of compensation may be described as "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 cost of an accident. These include out-of pocket expenses including lost wages and property damage costs and future financial losses resulting from the disability or injury. These costs are calculated by juries and courts using documents like hospital bills, pharmacy receipts, as well as estimates for repairs to vehicles.





They are fairly easy to prove and are among the most immediate expenses incurred by the event of a crash. They typically include medical expenses for the initial hospital stay, and any follow-up treatment and care. They can also include the cost of repairing a damaged vehicle or other property items like clothing and household items. The cost of hiring a person to do chores around the house or to transport children to and from school, or other activities may be included in these expenses also.

The loss of wages is an additional important type of economic loss. These include not only your missed earnings from the time you were forced to stay home from work because of injuries, but also take into account lost productivity while recovering as well as any vacation days or sick days. In certain cases, compensation can be recovered in the event of a loss of future earning capacity. This is the case in the event that you are not able to resume your previous work or earn the equivalent amount.

The costs are pretty clear and quantifiable. However, other damages that you are able to claim could be less clear. These non-economic damages are sometimes more difficult to quantify and can include things like pain and suffering, disfigurement, and loss of enjoyment of life.

What can you do to prove the damage?

Some expenses can be proved by means of receipts and papers Some expenses can be proven with receipts and paperwork, while others require expert testimony. For instance, in situations where an accident causes a severe spinal cord injury that leaves a victim partially paralyzed, then it could be necessary to speak with an occupational specialist to determine the full impact of the injury. This will aid the jury or the court determine with certainty the full scope of personal and financial implications will be.

The most complicated types of economic damages are those that concern future medical expenses and lost earnings. It may be possible to document these expenses using a medical professional's estimate of when you'll reach maximum medical improvement, or when your recovery is likely to end. You'll need to show that you'll suffer future financial loss. gulfport accident law firm can be done by making a submission of your pay stubs and expense receipts.

Insurance companies attempt to not pay as much damages as they are legally required to. A personal injury lawyer who is experienced can ensure that you get all the compensatory damages you are entitled to. Contact Dennis and King today to set up an appointment for a no-cost consultation. We can help you recover all of your financial and other damages resulting from a New York auto accident or personal injury accident.