Personal Injury Compensation - How to Get the Compensation You Need
It is normal to be concerned about your finances when involved in an accident. This is especially true when your injuries are severe.
There are ways to recover compensation for your injuries. These include economic 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 meant to aid you in returning to your pre-injury lifestyle.
There are two types of damages that can be granted in personal injury cases that are: economic damages and non-economic damages. The first is to pay for the financial losses incurred due to the accident, while non-economic damages are meant to compensate for emotional suffering.
In many instances the court or jury will award a victim damages to compensate for their lost wages, medical expenses and rehabilitative care as well as property damage costs such as repair and replacement. personal injury attorney bloomington of damage is documented with bills, receipts, or pay stubs.
A defendant's reckless behavior could result in different economic loss. These include:
- Loss in Earning Capacity
When a person is injured their earning capacity could be severely affected. They may be forced to take a lower-paying position or be permanently disabled.
- Future Earning Capacity
This is a difficult factor to calculate as it depends on the victim's age, industry and trends at the moment of the incident. The person may be young and their career that is on the rise, or they might be 58 years old and have a full retirement plan.
- Past Earning Capacity
This poses a challenge for juries to consider, since it requires a thorough analysis of the victim's employment situation and the potential for future earnings. For instance, a person may be a recent college graduate with a promising career path in engineering.
The victim could have lost their wages in addition to other costs such as medical bills, car repairs, or out-of-pocket costs for medication and therapy.
These expenses can amount to a substantial amount of money. To settle a fair amount, add all of these expenses together.
There are a myriad of factors which determine the exact amount of your financial damages, so it is crucial to consult an experienced personal injury lawyer who understands how damages can be calculated and awarded. Your lawyer can provide you with a comprehensive list of all your present and future economic losses, and also seek experts who can place an approximate value on these losses in the course of making your compensation.