Personal Injury Compensation - How to Get the Compensation You Need
When you are involved in an accident, it is normal to be worried about your finances. This is especially true when the injuries you sustained are severe.
There are ways to recover compensation for your injuries. This includes economic and non-economic damages like pain and suffering.
Economic Damages
Financial compensation is open to all who have been injured by the negligence of another party. This compensation is intended to assist you in regaining the lifestyle you had prior to your injury.
In personal injury cases, there are two types of financial damages you could receive: economic and non-economic. The former is meant to compensate you for the financial loss resulting from the accident, while the second is designed to pay for the emotional burdens your injury has caused.
A judge or jury could award economic damages to victims in a variety of instances. This includes lost wages or rehabilitation costs, medical bills and property damage expenses such as repair and replacement. This category of damages is concrete in that it can be documented through receipts, bills and pay stubs.
A defendant's negligence can lead to a number of different economic losses. These losses include:
- Loss of Earning Capacity
A victim may have a reduced earning capacity after being injured. They may be forced to accept a lower paying job or become permanently disabled.
- Future Earning Capacity
This aspect can be difficult to calculate as it depends on the victim's age, their industry and the trend at the moment of the incident. The person may be young and have a career that is on the rise or they may be 58 years old and have a complete retirement plan.
- Past Earning Capacity
This also presents jurors' challenges to consider, since it requires a thorough investigation of the victim's past job and the possibility for future earnings. A victim could be a recent college graduate with a career in engineering.
- The victim may have lost their earnings in addition to other costs such as medical bills, car repairs or out of pocket expenses for medication and therapy.
In the end, these expenses can add up to a significant amount of money. Compiling all these expenses to determine what your financial damages could be will help you receive a fair settlement.
There are a variety of factors that affect the exact amount of your economic damages, which is why it is important to speak to an experienced personal injury lawyer who is aware of how these damages can be calculated and given. personal injury attorneys pontiac will provide you with a comprehensive list of all your economic losses and help you identify experts who can assign a dollar amount to these damages in order to determine your compensation.