Personal Injury Compensation - How to Get the Compensation You Need
It is normal to worry about your finances when you are involved in an accident. This is particularly true if you're the victim of serious injuries.
There are a variety of ways to obtain compensation for your injuries. These include economic damages and non-economic damages such as pain and suffering.
Economic Damages
Financial compensation is open to all who have been injured as a result of the negligence of another party. This compensation is intended to help you return to your pre-injury lifestyle.
In personal injury cases there are two kinds of damages that you can receive: non-economic and economic. The first is to compensate for your financial losses as a result of the accident and non-economic damages are intended to compensate for your emotional burdens.
In many instances, a judge or jury will award the victim with economic damages to cover their loss of wages, medical bills and rehabilitation care, along with the cost of property damage, like repair and replacement. This type of damage can be documented through bills, receipts, or pay stubs.
A defendant's reckless behavior could cause different economic losses. These losses include:
- Loss in Earning Capacity
When a person is injured and unable to work, their earnings could be significantly affected. They might be forced to accept a lower-paying job or even be permanently disabled.
personal injury lawyer plano earning capacity
This factor can be difficult to estimate because it depends on the victim's age, the industry and trends at the moment of the accident. One person may be young and have a promising job, or they could have an retirement plan.
Past Capacity for Earning
This poses a challenge for juries as it requires an in-depth analysis of the victim's employment history and future earnings. A victim may be a recent graduate with a technical career.
In addition to losing wages, the victim may have faced other costs like medical bills, car repairs or even out-of pocket expenses for therapy or medication.
In the end, these expenses will add up to an enormous amount of money. To obtain a fair settlement make sure you add all these costs together.
There are many variables that go into determining the exact amount of your financial damages, and it is essential to speak with an experienced personal injury attorney who understands how damages are calculated and given. Your lawyer can provide you with a comprehensive list of all of your economic losses and help you to identify experts who can assign a dollar amount to these damages to calculate your compensation.