This type of compensation usually includes medical expenses, which include prescription medications as well as devices, physical therapy and surgeries. It can also cover the loss of future earnings potential.
This type of compensation can be referred to as "general damages." However, determining the value of these damages is difficult since insurers employ different calculation methods.
Economic Damages
Economic damages are the tangible, measurable costs that result from an accident lawsuits. They include out-of-pocket expenses like lost wages as well as property damage costs and financial losses that will come from the injury or disability. These costs are determined by juries and courts based on documents like 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 typically include medical expenses like the initial hospitalization and all follow-up care and treatment. They could also include the cost of repairing a damaged vehicle or other property items, such as household and clothing items. The cost of hiring someone to take care of chores around the house or take children to and from school, or extracurricular activities could be included in these costs as well.
Loss of wages is another common and accident attorneys important type of economic damages. This is not just the wages you have missed due to your injuries but also any loss of productivity during your recovery and any vacation or sick days. In some cases it is possible to recover compensation for the loss of future earnings capacity. This is the situation in the event that you are not able to resume your previous work or earn the same amount.
While these costs are relatively easy to quantify, some of the other damages you could claim are less clear. Non-economic damages are more difficult to quantify, and include things like discomfort and pain or disfigurement as well as the loss of enjoyment.
How do you show these damages?
While some of the costs within these categories are straightforward and can be substantiated by receipts and paperwork Certain expenses may require expert testimony. When an accident compensation claims causes a severe spinal injury that leaves the victim partially paralyzed, it could be necessary to consult an occupational expert to determine the impact of the injury on the victim. This can assist the jury or court to determine what your total personal and accident Claims financial impacts will be.
The most complex economic losses are those that relate to future medical expenses and loss of earnings. You might be able to document these costs by using a medical professional’s estimation of your maximum medical improvement or when your recovery is expected to be over. However, you'll need to prove your financial loss by submitting pay bills, expense receipts and other proof of your present and previous income.
Insurance companies are trying to avoid paying as much in damages as they are obligated to. A personal injury lawyer who has the right experience will ensure you receive all the compensation you are entitled to. Contact Dennis and King today to set up a free consultation. We can help you seek all of your economic and non-economic damages after a New York car Accident Attorneys or any other personal injury or accident law firm.
