This type of compensation usually covers medical expenses, such as prescription medications or devices, physical therapy and even surgery. This compensation may include future earnings potential.
This kind of compensation could be referred to as "general damages." However, determining the amount of these damages can be complicated because insurers use different calculation methods.
Economic Damages
Economic damages are the tangible, measurable costs that result from an accident claims. These include out-of pocket expenses, losses from missed work damages to property and future anticipated financial losses due to the injury or disability. Juries and courts usually calculate these costs using documentation like hospital bills, pharmacy receipts and estimates for vehicle repairs.
These costs are relatively easy to prove and are the most immediate expenses that are incurred in an accident compensation claim. They cover medical expenses like the initial hospital stay, and any subsequent treatment and care. They can also include the cost of repairing a damaged vehicle or other property items, including household and clothing items. The cost of hiring someone to take care of chores around the house or drive children to and from school or extracurricular activities could be included in these costs also.
Lost wages are another frequent and important category of economic damages. These include not just missed earnings from the time you were forced to stay home from work because of your injuries, but they may also include lost productivity while recovering as well as any sick days or vacation leave. In some instances you may even be able to claim compensation for the loss of your future earning potential in the event that your injury prevents you from returning to your previous job or hinders you from earning the same amount in the future.
These costs are quite clear and quantifiable. However, other damages that you can claim are more difficult to prove. These damages that are not economic can be more difficult to quantify and include things like pain and discomfort or Accident Compensation disfigurement, as well as loss of enjoyment in life.
What can you do to show these damages?
While some of the expenses within these categories are straightforward and can be proven with receipts and documents Other expenses might require expert testimony. For instance, in situations where an accident attorneys causes an extremely severe spinal cord injury that leaves the victim partially paralyzed, then 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 determine the true extent of your financial and personal impact.
The most complex types of economic losses are those that relate to future medical expenses and lost earnings. You might be able to document these costs by using a medical professional's estimation of your maximum improvement in your medical condition or when your recovery is expected to end. However, accident compensation you'll need to prove the future financial loss by providing pay stubs, expense receipts and other proof of your current and previous income.
Insurance companies are trying to avoid paying as much damages as they are obligated to. A personal injury lawyer who is skilled will ensure that you receive all the compensatory damages you are entitled to. Contact Dennis and King today to schedule a free consultation. We can help you recover all of your economic as well as other damages following the occurrence of a New York auto accident law firm or personal injury incident.
