Personal Injury Compensation - How to Get the Compensation You Need
It is normal to worry about your finances when you are in an accident. This is particularly true if you're involved in a serious injury.
Fortunately, there are ways to be compensated for your injuries. This includes economic damages as well as non-economic damages like pain and suffering.
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If you are injured as the result of negligence by another party, you should be entitled to financial compensation. The purpose of this compensation is to aid you in returning to your life prior to injury.
There are two kinds of damages monetary that can be granted in personal injury cases which are economic damages and non-economic damages. The first is to compensate for the financial loss you suffered due to the accident, while non-economic damages are meant to cover your emotional suffering.
A judge or jury could award economic damages to victims in a number of instances. This includes lost wages and rehabilitation expenses, medical bills as well as property damage costs such as repair and replacement. This category of damages can be documented with bills, receipts, or pay stubs.
A defendant's negligent behavior can result in a wide range of economic losses. These losses include :
Loss in Earning Capacity
A victim could have a reduced earning capacity after an injury. They may have to accept a lower paying job or be permanently disabled.
Future earning capacity
This is a difficult measure as it is based on the age, industry and trend of a victim's career at the time of the accident. Someone could be young and their career on the rise, or they might be 58 and have a complete retirement plan in front of them.
Past Earning Capacity
This also presents jurors' challenges in that it requires a thorough analysis of the victim's prior work experience and the potential for future earnings. For example, a victim might be a recent graduate with a promising career path in engineering.
In addition, to the loss of wages, the victim could have faced other costs such as medical bills, car repairs and even out-of-pocket costs for therapy or medication.
In the end, these costs can add up to a substantial amount of money. Compiling all these expenses to determine what your economic damages might be will help you receive an equitable settlement.
There are many variables that affect the amount of your economic damages. It is important to consult a skilled personal injury lawyer who will help you understand how these damages can be calculated and awarded. Your lawyer can provide you with a list detailing all of your economic losses and help you find experts who can assign a value to these damages in order to calculate your compensation.