Personal Injury Compensation - How to Get the Compensation You Need
If you're involved in an accident it is normal to be concerned about your finances. personal injury attorney layton is especially true if you suffer an accident that causes serious injuries.
There are many options to claim compensation for your injuries. These include economic and non-economic damages such as 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 help you recover from your injuries and get back to the same standard of living.
In personal injury cases there are two kinds of financial damages you could receive: economic and non-economic. The former is designed to compensate you for monetary losses caused by the accident, while the latter is designed to pay for the emotional hardships that your injury has caused.
In many cases a judge or jury will award the victim with economic damages to make up for their lost wages, medical bills and rehabilitative treatment, along with property damage costs like repair and replacement. The damages in this category are specific in that it may be documented with receipts and pay stubs.
Unfortunate behavior by a defendant can result in a wide range of economic losses. These include:
- Loss of Earning Capacity
If a victim suffers an injury, their earning capacity may be significantly affected. They could be forced take a lower paying job or even permanently disabled.
Future earning capacity
This factor can be difficult to calculate as it depends on the victim's age, the industry and the current trend at the time of the accident. Someone could be young and have a career that is growing, or they might be 58 and have a complete retirement plan in front of them.
Past Capacity to Earn
This presents a challenge for jurors because it requires a thorough analysis of the victim's work history and the potential earnings for the future. A victim could be a recent graduate with a technical career.
- In addition to lost wages, the victim might have had other expenses such as medical bills, car repairs, and even out-of-pocket costs for medication or therapy.
These expenses can amount to a substantial amount of money. Compiling all these expenses to determine what your financial damages could be can help you obtain an appropriate settlement.
There are many variables that go into determining the exact amount of your financial damage, which is why it's essential to speak with an experienced personal injury lawyer who is aware of how these damages can be calculated and awarded. Your lawyer will be able to provide you with a complete list of all your present and future economic losses as well as enlist the help of experts who can put a dollar value on these damages for the purpose of making your compensation.