Personal Injury Compensation - How to Get the Compensation You Need
If you're injured in an accident, it is normal to be concerned about your finances. This is especially true if you're the victim of serious injury.
Fortunately, there are ways to be compensated for your injuries. These include economic damages as well as non-economic damages, like pain and suffering.
Economic Damages
If you suffer an injury as the result of negligence by another party you are entitled to financial compensation. The purpose of this compensation is to aid you in recovering from your injuries and get back to the standard you had prior to your injury living.
In personal injuries, there are two types of monetary damages you can receive: economic and non-economic. The first is to pay for your financial losses from the accident while non-economic damages are intended to compensate you for your emotional suffering.
personal injury attorney lake charles or jury may award economic damages to victims in a number of cases. This can include lost wages, rehabilitation expenses, medical bills and property damage expenses like repair and replacement. This kind of damage is concrete in that it can be documented using receipts and pay stubs.
A defendant's negligent behavior could result in a range of economic losses. These losses include:
- Loss of Earning Capacity
A person who is injured may be unable to earn as much after an injury. They could be forced to accept a lower-paying job or even permanently disabled.
Future Earning Capacity
This factor can be difficult to estimate because it depends on the victim's age, the industry and the trend at the moment of the accident. One person might be young and are in a promising profession, or they might have a retirement plan.
- Past Earning Capacity
This poses jurors' difficulties in that it requires a thorough examination of the victim's prior employment situation and the potential for future earnings. A victim could be a recent graduate who has a career in engineering.
- The victim may have lost their income along with other expenses like medical bills, car repairs, or out-of-pocket costs 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 equitable settlement.
There are a myriad of factors that go into determining the exact amount of your financial damages, which is why it is important to consult with an experienced personal injury lawyer who is aware of how these damages can be determined and granted. Your lawyer can provide you with a list detailing all your economic losses and help you identify experts who can assign a dollar value to these damages to calculate your compensation.