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Personal Injury Compensation - How to Get the Compensation You Need
It is normal to be concerned about your finances when you are involved in an accident. This is particularly true if your injuries are serious.
Fortunately, there are ways to recover compensation for your injuries. These include economic and non-economic damages such as suffering and pain.
Economic Damages
Financial compensation is available to those who have been injured due to the negligence of a third 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 types of financial damages that could be granted in personal injury cases which are economic damages and non-economic damages. The first is to compensate for the financial losses incurred due to the accident, and non-economic damages are intended to compensate for your emotional suffering.
A jury or judge may award economic damages to victims in many instances. This includes lost wages, rehabilitation costs, medical bills, and property damage costs such as repair and replacement. This type of damage is tangible in that it can be documented with receipts, bills and pay stubs.
A defendant's negligent behavior can lead to a number of different economic losses. These include:
Loss in Earning Capacity
A victim could be unable to earn as much after being injured. They could be forced to take a lower-paying position or become permanently disabled.
- Future Earning Capacity
This is a difficult factor to calculate since it depends on the age, industry and trend of the victim's job at the time of the accident. A person could be young and their career on the rise, or they could be 58 and have a full 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 the potential earnings for the future. A victim might be a recent graduate with a career in engineering.
In addition to losing wages, the victim might have faced other costs such as medical bills, car repairs, and even out-of-pocket expenses for medication or therapy.
In the end, these expenses can total a significant amount of money. Compiling all these expenses to figure out what your economic damages might be will help you get an appropriate settlement.
There are many variables which determine the exact amount of your financial damage, which is why it's important to consult with an experienced personal injury attorney who is aware of how these damages are determined and given. personal injury attorney little rock can provide you with a comprehensive list of the economic losses you have suffered and assist you in identifying experts who can assign a dollar value to these losses in order to calculate your compensation.