Personal Injury Compensation - How to Get the Compensation You Need
It is normal to worry about your finances when in an accident. This is especially true if you are involved in a serious injury.
There are many ways to be compensated for your injuries. This includes economic and non-economic damages , such as pain and suffering.
Economic Damages
When you suffer an injury because of negligence by another party you are entitled to financial compensation. The purpose of this compensation is to aid you in recovering from your injuries and return to the same standard of living.
In personal injuries, there are two types of damages that you can receive: non-economic and economic. The first is to compensate for your financial losses as a result of the accident while non-economic damages are designed to compensate for emotional pain.
In many instances, a judge or jury will award a victim economic damages to pay for their lost wages, medical expenses and rehabilitative treatment along with property damage costs like repair and replacement. This category of damages is specific in that it may be documented with receipts and pay stubs.
A defendant's reckless behavior could lead to a number of different economic losses. These losses include :
Loss of Earning Capacity
A victim may suffer a lower earning capacity after being injured. They could be forced to accept a lower paying job or be permanently disabled.
Future Earning Capacity
This can be a challenging factor to determine since it is dependent on the nature, age, and trends of the victim's profession at the time of the accident. Someone could be young and have a career on the rise, or they may be 58 and have a complete retirement plan.
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This presents a challenge to jurors as it requires an in-depth analysis of the victim's work history and potential future earnings. For instance, a defendant might be a recent graduate with a promising career path in engineering.
- The victim may have lost their wages as well as other expenses like medical bills, car repairs, or out-of-pocket costs for medication and therapy.
These expenses can be significant and can add up to an amount of money. The sum of all these expenses to determine what your financial damages could be will help you receive an equitable settlement.
There are numerous factors that affect the amount of your economic damages. It is important to speak with a seasoned personal injury lawyer who can help you understand how these damages can be calculated and be awarded. Your lawyer will provide you with a list of all your present and future economic losses as well as enlist experts who can put a dollar value on these losses in the course of calculating your compensation.