Types of Accident Compensation This type of compensation typically covers medical costs, including prescription drugs as well as devices, physical therapy and surgeries. It may also cover loss of future earnings potential. This type of compensation is commonly referred to as "general damages." It isn't always easy to determine the value of these damages since insurers employ different methods of calculation. Economic Damages Economic damages are the tangible, measurable costs that result from an accident. They include out-of-pocket expenses such as lost wages as well as property damage costs and financial losses that will come from the injury or disability. The courts and juries usually determine these costs using documentation like hospital bills, pharmacy receipts and estimates for repairs to vehicles. These are the immediate costs of a crash, and are easy to prove. They cover medical expenses like the initial hospitalization, as well as any subsequent care and treatment. These expenses can also comprise the cost of repairing a damaged car or other property items, including household and clothing goods. The cost of hiring someone to do chores around the house or take children to and from school or other activities may be included and more. The loss of wages is an additional important type of economic damage. These include not just missed earnings from the time you had to stay home from work because of your injuries, but they can be a factor in the loss of productivity in recovering, as well as any sick days or vacation leave. In some cases you can also claim compensation for the loss of your future earning potential in the event that your injury prevents you from returning to your former job or stops you from earning the same amount in the future. These costs are easily identifiable and quantifiable. However, other damages that you can claim may be less obvious. These non-economic damages are more difficult to quantify, and include things like discomfort and pain or disfigurement, as well as loss of enjoyment in life. What can you prove to prove these Damages? While a few of the expenses in these categories are easy to prove by receipts and paperwork Other expenses might require expert testimony. For instance, in the event where an accident leads to an extremely severe spinal cord injury that leaves the victim partially paralyzed, it might be necessary to speak with an occupational specialist to assess the full impact of the injury. This will assist the jury or court to make a precise determination of the full scope of personal and financial impacts will be. The most complex economic damages are those that involve future medical expenses and lost earnings. It may be possible to document these expenses by using a medical professional's assessment of when you will achieve maximum medical improvement, or the time when your recovery will likely end. https://vimeo.com/709630795 'll need to show that you'll suffer a future financial loss. This can be done by submitting your pay stubs or expense receipts. Insurance companies will attempt to avoid paying the full amount of damages that they must legally pay. A seasoned personal injury lawyer will ensure that you receive all the compensation to which you are entitled. Dennis and King will be able to schedule a free consultation. We can help you recover all of your financial and other damages after the occurrence of a New York auto accident or personal injury incident.