Personal Injury Compensation - How to Get the Compensation You Need
It is normal to worry about your finances when in an accident. This is especially true if your injuries are serious.
There are many ways to recover compensation for your injuries. personal injury law firm mckinney includes economic and non-economic losses, like pain and suffering.
Economic Damages
When you suffer an injury due to the negligence of someone else you are entitled to financial compensation. This compensation will help you recover from your injuries and get back to your pre-injury standard of living.
In personal injury cases, there are two types of financial damages you could get: non-economic and economic. The first is designed to compensate you for financial loss resulting from the accident, while the latter is designed to pay for the emotional trauma that your injury has caused.
In many cases, a judge or jury will award the victim with economic damages to pay for their loss of wages, medical bills as well as rehabilitation services and damages to property, such as repair and replacement. This category of damages is documented with bills, receipts, and pay stubs.
Negligent behavior by a defendant can cause a variety of economic losses. The losses can include the following:
Loss of Earning Capacity
A victim may be less able to earn following an injury. They may be forced to take a lower paying job or even be permanently disabled.
Future earning capacity
This is a difficult factor to calculate since it is based on the age, the industry and the trend of the victim's profession at the time of the accident. A person might be young and their career that is on the rise, or they might be 58 years old and have a full retirement plan in front of them.
- Past Earning Capacity
This is also a challenge for juries to consider, since it requires a thorough examination of the victim's past work experience and the potential for future earnings. A victim may be a recent graduate with a technical career.
The victim could have lost their earnings along with other expenses such as medical bills, car repairs, or out of pocket expenses for medication and therapy.
These expenses can amount to a substantial amount of money. To get a fair settlement take all of these expenses together.
There are a myriad of factors which determine the exact amount of your economic damages, so it is important to speak to an experienced personal injury attorney who understands how damages are determined and granted. Your lawyer can provide you with a complete list of the economic losses you have suffered and assist you in identifying experts who can assign a value to these losses in order to calculate your compensation.