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Personal Injury Compensation - How to Get the Compensation You Need
It is normal to be concerned about your finances when you are involved in an accident. This is especially true when you suffer serious injury.
There are a variety of ways to receive compensation for your injuries. This includes economic and non-economic damages such as pain and suffering.
Economic Damages
Financial compensation is open to all who have been injured as a result of the negligence of a third party. This compensation will assist you in recovering from your injuries and return to the level you enjoyed prior to injury living.
There are two kinds of damages that can be awarded in personal injury cases which are economic damages and non-economic damages. The former is designed to compensate you for financial losses resulting from your accident, while the latter is designed to compensate you for the emotional burdens your injury has caused.
In many instances a judge or jury will award the victim with economic damages to compensate for their lost wages, medical bills and rehabilitative care along with property damage costs like repair and replacement. This kind of damage is specific in that it may be documented with receipts as well as pay stubs, bills and receipts.
A defendant's negligence can cause different economic losses. These losses include:
- Loss of Earning Capacity
A victim could be less able to earn after an injury. They could be forced take a lower-paying job, or be permanently disabled.
- Future Earning Capacity
This can be a challenging measure as it is dependent on the age, industry and trend of a person's career at the moment of the accident. A person could be young and their career that is on the rise, or they could be 58 years old and have a full retirement plan.
Past Earning Capacity
This presents a challenge to jurors as it requires a thorough examination of the victim's past employment and potential future earnings. For example, a victim may be a recent college graduate with a promising career path in engineering.
The victim could have lost their wages along with other expenses like medical bills, car repairs, or out-of-pocket costs for medication and therapy.
In the end, these expenses can add up to a significant amount of money. To obtain a fair settlement to settle the case, you must add all of the expenses.
There are a myriad of factors that determine the exact amount of your economic damage, which is why it's important to speak to an experienced personal injury attorney who understands how these damages can be calculated and determined. Your lawyer will provide you with a detailed list of all of your economic losses and help you find experts who can assign a dollar amount to these losses in order to calculate your compensation.
It is normal to be concerned about your finances when you are involved in an accident. This is especially true when you suffer serious injury.
There are a variety of ways to receive compensation for your injuries. This includes economic and non-economic damages such as pain and suffering.
Economic Damages
Financial compensation is open to all who have been injured as a result of the negligence of a third party. This compensation will assist you in recovering from your injuries and return to the level you enjoyed prior to injury living.
There are two kinds of damages that can be awarded in personal injury cases which are economic damages and non-economic damages. The former is designed to compensate you for financial losses resulting from your accident, while the latter is designed to compensate you for the emotional burdens your injury has caused.
In many instances a judge or jury will award the victim with economic damages to compensate for their lost wages, medical bills and rehabilitative care along with property damage costs like repair and replacement. This kind of damage is specific in that it may be documented with receipts as well as pay stubs, bills and receipts.
A defendant's negligence can cause different economic losses. These losses include:
- Loss of Earning Capacity
A victim could be less able to earn after an injury. They could be forced take a lower-paying job, or be permanently disabled.
- Future Earning Capacity
This can be a challenging measure as it is dependent on the age, industry and trend of a person's career at the moment of the accident. A person could be young and their career that is on the rise, or they could be 58 years old and have a full retirement plan.
Past Earning Capacity
This presents a challenge to jurors as it requires a thorough examination of the victim's past employment and potential future earnings. For example, a victim may be a recent college graduate with a promising career path in engineering.
The victim could have lost their wages along with other expenses like medical bills, car repairs, or out-of-pocket costs for medication and therapy.
In the end, these expenses can add up to a significant amount of money. To obtain a fair settlement to settle the case, you must add all of the expenses.
There are a myriad of factors that determine the exact amount of your economic damage, which is why it's important to speak to an experienced personal injury attorney who understands how these damages can be calculated and determined. Your lawyer will provide you with a detailed list of all of your economic losses and help you find experts who can assign a dollar amount to these losses in order to calculate your compensation.