Personal Injury Compensation - How to Get the Compensation You Need
It is normal to be concerned about your finances when in an accident. This is especially true if your injuries are serious.
There are a variety of ways to claim compensation for your injuries. This includes economic damages as well as non-economic damages like 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. The purpose of this compensation is to aid you in returning to your life prior to injury.
In personal injuries, there are two types of monetary damages that you could receive: economic and non-economic. The former is designed to compensate you for the financial losses caused by the accident, whereas the latter is designed to pay for the emotional hardships that your accident has caused.
In many instances a judge or jury will award the victim with economic damages to cover their lost wages, medical bills as well as rehabilitation services, along with property damage costs such as repair and replacement. This kind of damage is real in the sense that it can be documented using receipts, bills and pay stubs.
personal injury lawsuit lexington can result in different economic loss. These losses include:
- Loss of Earning Capacity
A victim could have a reduced earning capacity after being injured. They may be forced to take a lower paying job or even permanently disabled.
Future earning capacity
This is a difficult factor to determine since it relies on the victim's age and profession and trends at the moment of the accident. The person may be young and their career that is on the rise or they might be 58 years old and have a complete retirement plan in front of them.
Past Earning Capacity
This poses a challenge for jurors because it requires a thorough examination of the victim's work history and potential future earnings. For instance, a defendant may be a recent college graduate with a promising career in engineering.
In addition to the loss of wages, the victim may have had other expenses such as medical bills, car repairs, and even out-of-pocket costs for therapy or medication.
These expenses can add up to a substantial amount of money. The sum of all these expenses to figure out what your economic damages might be will help you receive an acceptable settlement.
There are a variety of factors that affect the exact amount of your financial damage, which is why it's important to consult with an experienced personal injury lawyer who understands how damages can be calculated and granted. Your lawyer will provide you with a detailed list of the economic losses you have suffered and help you find experts who can assign a dollar value to these damages to determine your compensation.