Types of Accident Compensation

This kind of compensation typically includes medical expenses, which include prescription medications and devices, Vimeo physical therapy and even surgery. This type of compensation can also be used to pay for future earnings.

This kind of compensation is commonly 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 and measurable cost of an accident. They include out-of-pocket expenses such as lost wages as well as property damage costs and future financial losses resulting from the disability or injury. Courts and juries usually calculate these costs based on documentation such as hospital bills, pharmacy receipts and estimates of vehicle repairs.

These expenses are relatively simple to prove and are among the most immediate expenses associated with the event of a crash. They usually include medical expenses, such as the initial hospitalization and all follow-up care and treatment. They may also include the cost of repairing a damaged vehicle or other property items such as clothing and household products. They could also include the cost of hiring a third party to help with housework or driving your children to school or other activities.

The loss of wages is an additional important type of economic loss. They include not just missed earnings from the time you were required to stay home from work due to injuries, but they can also take into account the loss of productivity during recovery and any vacation days or sick days. In some instances you can recover compensation in the event of a loss of future earnings capacity. This is the case in the event that you cannot return to your previous job or earn the same amount.

While these expenses are transparent and quantifiable, some of the other damages you could assert are less clear. Non-economic damages are more difficult to quantify and include things like pain and discomfort or disfigurement, as well as loss of enjoyment.

How Do You Prove These Damages?

Certain expenses can be substantiated by submitting receipts and documents, but others may require expert testimony. For instance, in the event where an accident leads to an extremely severe spinal cord injury that renders a person partially paralyzed or disabled, it could be necessary to consult with an occupational specialist to assess the full impact of the injury. This can aid the jury or the court to make a precise assessment of your financial and personal impact.

The most complex types of economic losses are those that concern future medical expenses and lost earnings. It is possible to document these costs using a medical professional's estimate of when you will reach maximum medical improvement, or when your recovery is likely to be over. But, you'll need to prove your future financial loss by submitting pay invoices, Vimeo stubs as well as other proof of your past and present income.

Insurance companies try to avoid paying the full amount of damages that they have to pay legally. A personal injury lawyer who is experienced can ensure you receive all of the compensatory damages you are entitled to. Contact Dennis and King today to set up an appointment at no cost. We can help you recover all of your financial as well as other damages following a New York auto macomb accident law firm or personal injury incident.