Why Personal Injury Lawyers Might Be Your Next Big Obsession
Personal Injury Compensation - How to Get the Compensation You Need
It is normal to worry about your finances when you are in an accident. This is especially true if your injuries are severe.
There are personal injury lawsuit southfield of ways to claim compensation for your injuries. This includes economic and non-economic damages , such as pain and suffering.
Economic Damages
If you suffer an injury due to the negligence of another, you should be entitled to financial compensation. This compensation is designed to aid you in recovering from your injuries and get back to the same standard of living.
In personal injuries there are two kinds of damages that you can receive: economic and non-economic. The former is meant to compensate you for the financial losses caused by the accident, whereas the latter is designed to pay for the emotional hardships that your injury has caused.
In many instances the court or jury will award the victim with economic damages to cover their lost wages, medical expenses and rehabilitation care along with property damage costs such as repair and replacement. This category of damages is tangible in that it can be documented with receipts and pay stubs.
The negligent conduct of a defendant can result in a wide range of economic losses. These losses include:
Loss in Earning Capacity
When a person is injured their earning capacity could be significantly affected. They may be forced to accept a lower-paying job or even permanently disabled.
Future earning capacity
This can be a challenge to estimate because it depends on the victim's age and profession, and trend at the moment of the accident. A person might be young and have a career that is on the rise, or they might be 58 years old and have a complete retirement plan ahead of them.
Past Earning Capacity
This poses a challenge for jurors because it requires a thorough examination of the victim's work history and potential future earnings. For example, a victim could be a recent grad with a promising career path in engineering.
In addition, to the loss of earnings, the victim could have had other expenses like medical bills, car repairs, and even out-of-pocket costs for medication or therapy.
These expenses can be significant and can add up to an amount of money. The sum of all these expenses to figure out what your financial damages could be will allow you to get an acceptable settlement.
There are a variety of factors that affect the amount of your economic damages. It is essential to consult a skilled personal injury lawyer who can help you understand how these damages can be calculated and awarded. Your lawyer can provide you with a complete list of the economic losses you have suffered and help you to identify experts who can assign a value to these damages in order to determine your compensation.