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 your injuries are serious.
There are many ways to receive compensation for your injuries. These include economic and non-economic damages like suffering and pain.
Economic Damages
Financial compensation is available to those who have been injured as a result of the negligence of another party. The purpose of this compensation is to help you get back to the lifestyle you had prior to your injury.
In personal injury cases, there are two types of monetary damages that you could receive: non-economic and economic. The former is intended to compensate you for monetary loss resulting from the accident, while the second is designed to pay for the emotional pain that your accident has caused.
A jury or judge may award economic damages to victims in a variety of cases. This includes lost wages as well as medical bills, rehabilitation care, and property damage costs such as repair and replacement. This type of damage can be documented with bills, receipts, or pay stubs.
A defendant's negligent behavior can lead to a number of different economic loss. These losses include:
Loss of Earning Capacity
If a victim is injured their earning capacity could be severely affected. They could be forced to find a job that pays less or even permanently disabled.
Future Earning Capacity
This is a difficult factor to determine since it is based on the nature, age, and trends of a victim's career at the moment of the accident. personal injury lawsuit new haven may be young and have a promising job, or they could have a retirement plan.
Past Capacity for Earning
This also comes with jurors facing a difficult task because it requires a thorough examination of the victim's job and the possibility for future earnings. For instance, a defendant could be a recent graduate with a promising career in engineering.
In addition, to the loss of wages, the victim might be facing other expenses like medical bills, car repairs and even out-of-pocket expenses for therapy or medication.
These expenses can add up to a substantial amount of money. Adding up all these expenses to determine what your financial damages could be will help you receive an acceptable settlement.
There are a myriad of factors that affect the exact amount of your economic damages, so it is essential to speak with an experienced personal injury lawyer who knows how these damages are determined and granted. Your lawyer will be able to give you a list of all your present and future economic losses, and will also solicit the assistance of experts who can put an approximate value on these losses for the purpose of formulating your compensation.