Personal Injury Compensation - How to Get the Compensation You Need
If you're involved in an accident it is normal to be concerned about your financial situation. This is particularly true if you are involved in serious injuries.
Fortunately, there are ways to receive compensation for your injuries. These include both economic and non-economic damages such as suffering and pain.
Economic Damages
Financial compensation is accessible to anyone who has suffered injuries due to the negligence of another party. This compensation is meant to help you get back to the way you were prior to the injury.
In personal injuries, there are two types of damages that you can receive: economic and non-economic. The first is to compensate for your monetary losses from the accident while non-economic damages are intended to cover your emotional pain.
In many instances, a jury or judge will award the victim with economic damages to cover their loss of wages, medical bills and rehabilitative care along with property damage costs such as repair and replacement. This type of damage can be documented by bills, receipts, or pay stubs.
A defendant's negligence can lead to a number of different economic loss. These losses include the following:
- Loss of Earning Capacity
When a victim is injured, their earning capacity may be significantly affected. They may be forced to accept a lower paying job or be permanently disabled.
- Future Earning Capacity
This is a difficult aspect to assess since it is based on the nature, age, and trends of a victim's career at the time of the accident. Someone could be young and have a career on the rise, or they may be 58 years old and have a full retirement plan in front of them.
Past Capacity for Earning
This poses jurors' challenges because it requires a thorough analysis of the victim's prior employment situation and the potential for future earnings. For instance, a defendant could be a recent grad with a promising career in engineering.
- personal injury law firm dearborn may be unable to earn a living in addition to other costs such as medical bills, car repairs, or out of pocket expenses for medication and therapy.
These expenses can add up to a significant amount of money. Compiling all these expenses to figure out what your economic losses might be will allow you to get an appropriate settlement.
There are many factors that affect the amount of your economic damages. It is important to speak with a seasoned personal injury lawyer who will help you understand how these damages can calculated and be awarded. Your lawyer will provide you with a complete list of all of your economic losses and help you identify experts who can assign a dollar value to these damages to determine your compensation.