Personal Injury Compensation - How to Get the Compensation You Need
When you are injured in an accident, it is normal to worry about your finances. This is particularly true if your injuries are serious.
Fortunately, there are ways to be compensated for your injuries. They include economic damages and non-economic damages like pain and suffering.
Economic Damages
Financial compensation is available to anyone who has been injured due to the negligence of another party. The purpose of this compensation is to aid you in recovering from your injuries and return to the same standard of living.
There are two kinds of monetary damages that can be awarded in personal injury cases that are: economic damages and non-economic damages. The first is to compensate for your financial losses from the accident while non-economic damages are designed to cover your emotional hardships.
personal injury law firm berkeley or jury may award economic damages to victims in a variety of cases. This includes lost wages and rehabilitation costs, medical bills and property damage costs such as repair and replacement. The damages in this category are real in the sense that it can be documented through receipts and pay stubs.
A defendant's negligent behavior can lead to a number of different economic loss. These losses include:
- Loss in Earning Capacity
When a person is injured the earning capacity of the victim could be severely affected. They might be forced to take a lower paying job or even permanently disabled.
Future earning capacity
This can be a challenging measure as it depends on the age, the industry and the trend of a person's career at the time of the accident. A person might be young and their career that is on the rise or they might be 58 and have a full retirement plan.
Past Earning Capacity
This also comes with jurors facing a difficult task, as it requires a thorough examination of the victim's work experience and the potential for future earnings. For instance, a victim could be a recent grad with a promising career path in engineering.
- In addition to lost wages, the victim could have incurred other expenses such as medical bills, car repairs, and even out-of-pocket expenses for therapy or medication.
In the end, these expenses can add up to a significant amount of money. The sum of all these expenses to determine what your economic losses might be will help you get a fair settlement.
There are a myriad of factors that affect the exact amount of your economic damages, and it is crucial to consult an experienced personal injury attorney who knows how these damages can be calculated and determined. Your lawyer will 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 to determine your compensation.