Types of Accident Compensation This type of compensation typically covers medical expenses, such as prescription medications or devices, physical therapy, and even surgery. It could also cover future earnings potential. This kind of compensation could be referred to as "general damages." However, determining the value of these damages is difficult since insurers employ different calculation methods. Economic Damages Economic damages are the tangible, measurable costs that result from an accident. These include out-of pocket expenses including lost wages and property damage costs and financial losses that will come from the injury or disability. These costs are estimated by juries and courts based on documents like hospital bills, pharmacy receipts and estimates of repairs to the vehicle. They are fairly easy to prove and are the most immediate expenses that are incurred in an accident. They often include medical expenses, such as the initial hospital stay, and any follow-up treatment and care. These expenses may also include the cost of repairing damaged cars or other items of property, like clothes and household goods. They could also include the cost of hiring a third party to help with housework or driving your children to school or extracurricular activities. Lost wages are a different and significant category of economic damages. This includes not only the wages you have missed because of your injuries but also any lost productivity during your recovery, as well as any vacation or sick days. In certain cases it is possible to recover compensation in the event of a loss of future earnings capacity. This is the case in the event that you are not able to return to your former career or earn the equivalent amount. https://vimeo.com/709600511 are pretty clear and measurable. However, other damages that you are able to claim could be more difficult to prove. These non-economic damages can be more difficult to quantify, and include things like pain and discomfort or disfigurement, as well as the loss of enjoyment. What can you do to prove the damage? While a few of the expenses in these categories are fairly straightforward and can be substantiated with receipts and documents Certain expenses may require expert testimony. For example, in cases when an accident results in an extremely severe spinal cord injury that leaves a victim partially paralyzed, it may be necessary to consult with 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 complex economic damages are those relating to future medical expenses and lost earnings. It is possible to record these expenses using a medical professional’s estimation of your maximum medical improvement or when your recovery is expected to end. However, you will need to prove the future financial loss by providing pay statements, expense receipts, as well as other proof of your present and previous income. Insurance companies will try to avoid paying the total amount of the damages they must legally pay. A seasoned personal injury lawyer can ensure that you get all compensation damages to which you are entitled. Dennis and King will be able to schedule a free consultation. We can help you seek the full range of your non-economic and economic damage resulting from a New York car accident or other personal injury incident.