This type of compensation usually covers medical costs, Accident Compensation including prescription drugs and Accident Compensation devices, physical therapy and even surgery. It could also cover the loss of future earnings potential.
This kind of compensation is often called "general damages." However, determining the value of these damages can be complicated because insurers use different methods of calculation.
Economic Damages
Economic damages are the tangible, measurable expenses that result from an accident. They include out-of-pocket expenses like lost wages, property damage costs, and financial losses that will come from the disability or injury. Juries and courts usually calculate these costs by using documents like hospital bills, pharmacy receipts and estimates of vehicle repairs.
These are the immediate costs of a crash and are easy to prove. They often include medical expenses for the initial hospital stay, and all subsequent treatment and care. They could also include the cost of a damaged vehicle or other property items including household and clothing goods. They could also include the cost of hiring a third party to assist with household chores or transport your children to school or any other extracurricular events.
Lost wages are another common and significant category of economic damages. This is not just the wages you missed due to your injuries, but also any productivity loss while you recover, and any sick days or vacation leaves. In some cases, you can even recover compensation for the loss of your future earning capacity If your injury hinders you from returning to your previous job or hinders you from earning the same amount in the future.
The costs are pretty clear and quantifiable. However, other damages that you are able to claim could be less so. These non-economic damages can be more difficult to quantify, and include things like pain and discomfort, disfigurement, and loss of enjoyment.
How do you show 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. When an accident lawyer causes a severe spinal injury that renders the victim partially paralyzed, it could be necessary to consult an occupational specialist to determine the impact of the injury on the victim. This can assist the jury or court make an accurate determination of what your total personal and financial impacts will be.
The most complex economic damages are those relating to future medical expenses as well as lost earnings. It may be possible to document these costs with the help of a medical professional's estimation of when you will reach the point of maximum medical improvement or when your recovery is likely to come to an end. You'll need to show that you are likely to suffer a future financial loss. This can be accomplished by providing your pay stubs or expense receipts.
Insurance companies are trying to keep from paying as much damages as they are legally required to. A knowledgeable personal injury lawyer will ensure that you receive the compensatory damages to which you are entitled. Contact Dennis and King today to set up an initial consultation for free. We can assist you with the full spectrum of economic and non-economic damage resulting from a New York car accident compensation claims or any other personal injury or accident compensation claim.
