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Personal Injury Compensation - How to Get the Compensation You Need
If you're injured in an accident, it is normal to worry about your financial situation. This is especially true if you suffer a serious injury.
There are a variety of ways to claim compensation for your injuries. They include economic damages and non-economic damages such as pain and suffering.
Economic Damages
Financial compensation is accessible to anyone who has been injured as a result of the negligence of another party. This compensation is meant to help you return to the way you were prior to the injury.
In personal injuries there are two kinds of financial damages you could receive: economic and non-economic. The former is designed to compensate you for financial losses caused by the accident, while the second is designed to compensate you for the emotional pain that your injury has caused.
In many cases, a jury or judge will award a victim economic damages to make up for their lost wages, medical expenses and rehabilitation care as well as property damage costs such as repair and replacement. The damages in this category are tangible in that it can be documented using receipts as well as pay stubs, bills and receipts.
A defendant's negligent behavior can result in different economic loss. These losses include:
Loss in Earning Capacity
A victim could be unable to earn as much after being injured. They could be forced take a lower paying job or even permanently disabled.
- Future Earning Capacity
This can be a challenging measure as it is based on the age, the industry and the trend of a person's career at the moment of the accident. The person may be young and their career that is on the rise, or they may be 58 years old and have a complete retirement plan in front of them.
- Past Earning Capacity
This presents a challenge to juries as 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 career in engineering.
- The victim may be unable to earn a living in addition to other costs like medical bills, car repairs or out-of pocket costs for medications and therapy.
In the end, these costs will add up to a significant amount of money. To obtain a fair settlement, add all of these expenses.
There are many factors that affect the amount of your economic damages. personal injury law firm schaumburg is crucial to consult with an experienced personal injury lawyer who can assist you in understanding how these damages are calculated and awarded. Your lawyer will provide you with a comprehensive list of all of your economic losses and help you to identify experts who can assign a value to these damages to calculate your compensation.