Personal Injury Compensation - How to Get the Compensation You Need
It is normal to be concerned about your finances when you are in an accident. This is especially true if your injuries are serious.
There are a variety of ways to receive compensation for your injuries. These include both economic and non-economic damages such as suffering and pain.
Economic Damages
Financial compensation is accessible to anyone who has been injured due to the negligence of a third party. The purpose of this compensation is to help you return to the lifestyle you had prior to your injury.
There are personal injury lawyer baltimore of damages that can be awarded in personal injury cases that are: economic damages and non-economic damages. The former is meant to compensate you for financial losses caused by the accident, while the second is designed to compensate you for the emotional hardships that your injury has caused.
A judge or jury may award economic damages to victims in a number of instances. This includes lost wages, medical bills, rehabilitation care and property damage costs such as repair and replacement. The damages in this category are specific in that it may be documented with receipts and pay stubs.
A defendant's negligent behavior can result in a variety of economic losses. These losses include :
- Loss of Earning Capacity
A victim could be less able to earn following an injury. They could be forced to take a lower paying job or even be permanently disabled.
Future Earning Capacity
This is a difficult factor to determine since it relies on the victim's age, their industry and the current trend at the moment of the accident. Someone could be young and their career that is growing, or they could be 58 years old and have a complete retirement plan.
Past Capacity to Earn
This presents a challenge to juries as it requires an in-depth analysis of the victim's employment history and potential future earnings. For example, a victim may be a recent college graduate with a promising career in engineering.
- In addition to lost wages, the victim may be facing other expenses like medical bills, car repairs, and even out-of-pocket expenses for medication or therapy.
These expenses can add up to a substantial amount of money. Adding up all these expenses to determine what your economic damages might be will help you get an appropriate settlement.
There are a variety of factors that affect the amount of your economic damages. It is crucial to consult an experienced personal injury lawyer who will assist you in understanding how these damages are calculated and awarded. Your lawyer will provide you with a list detailing the economic losses you have suffered and help you identify experts who can assign a dollar amount to these losses in order to determine your compensation.