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 the injuries you sustained are severe.
Fortunately, there are ways to recover compensation for your injuries. These include economic and non-economic losses, like suffering and pain.
Economic Damages
If you are injured due to negligence by another party, you should be entitled to financial compensation. The purpose of this compensation is to help you return to your life prior to injury.
In personal injuries, there are two types of monetary damages you can receive: economic and non-economic. The first is designed to compensate you for the financial losses caused by the accident, whereas the latter is designed to pay for the emotional trauma that your accident has caused.
In many instances, a jury or judge will award a victim damages to cover their lost wages, medical expenses and rehabilitation care as well as property damage costs like repair and replacement. This type of damage is documented with bills, receipts and pay stubs.
A defendant's negligent conduct can cause different economic loss. personal injury lawyer hammond include :
- Loss of Earning Capacity
When a victim is injured, their earning capacity may be severely affected. They could be forced to accept a lower-paying job or become permanently disabled.
Future earning capacity
This can be a challenge to determine because it is contingent on the victim's age, their industry, and trend at the time of the incident. One person might be young and have a promising job, or they may have a retirement plan.
- Past Earning Capacity
This presents a challenge to jurors since it requires a detailed analysis of the victim's history of employment and the potential earnings for the future. A victim could be a recent college graduate with an engineering career.
In addition to losing earnings, the victim could have incurred other expenses like medical bills, car repairs or even out-of pocket expenses for medication or therapy.
In the end, these expenses can add up to a substantial amount of money. Compiling all these expenses to figure out what your financial damages could be will help you get a fair settlement.
There are a myriad of factors that go into determining the exact amount of your financial damages, so it is crucial to consult an experienced personal injury attorney who knows how these damages can be determined and awarded. Your lawyer will provide you with a list detailing all of your economic losses and help you find experts who can assign a dollar amount to these damages in order to determine your compensation.