Guide To Accident Litigation: The Intermediate Guide To Accident Litigation

Types of Accident Compensation

This kind of compensation typically covers medical expenses, accident such as prescription drugs and devices, physical therapy and surgery. It could also cover the loss of future earnings potential.

This kind of compensation is usually referred to as "general damages." It can be challenging to determine the value of these damages because insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable costs resulting from an accident. These include out-of-pocket expenses such as lost wages, 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 and estimates for vehicle repairs.

These costs are fairly simple to prove and are the most immediate expenses incurred by an accident. They cover medical expenses, such as the first hospital stay, and any subsequent care and treatment. They may also include the cost of repairing or replacing a damaged vehicle or other property items, including household and clothing items. These costs can also include the cost of hiring a person to assist with household chores or transport your children to school or other extracurricular events.

The loss of wages is an additional important type of economic loss. This includes not only the income you lost because of your injuries but also any lost productivity during your recovery and any sick days or vacation leaves. In certain instances you may even be able to claim compensation for the loss of your future earning potential if your injury prevents you from returning to your former job or hinders you from earning the same amount in the future.

While these costs are easy to quantify, some of the other damages you could claim are less so. These non-economic damages can be more difficult to quantify and include things like discomfort and pain, disfigurement, and the loss of enjoyment.

How do you 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 the event where an accident leads to an extremely severe spinal cord injury that renders a person partially paralyzed, it may be necessary to consult an occupational expert to determine the full impact of the injury. This will assist the jury or court determine the true extent of your financial and personal impact.

The most complicated types of economic damages are those that involve future medical expenses and lost earnings. It is possible to document these expenses by using a medical professional's assessment of when you will achieve maximum medical improvement, or when your recovery is likely to come to an end. You'll need to show that you will suffer a future financial loss. This can be accomplished by making a submission of your pay stubs and expense receipts.

Insurance companies will attempt to avoid paying the total amount of damages they are legally required to pay. A personal injury lawyer who has the right experience will ensure that you receive all of the compensatory damages you are entitled to. Contact Dennis and King today to schedule a free consultation. We can assist you in pursuing all of non-economic and financial damages following an New York car accident or other personal injury accident.