A serious injury can create a huge financial burden. From time lost at work to mounting medical bills, the injured party can find themselves in an increasingly dire financial situation as the result of an accident.
That’s why injury compensation is so important. Without such compensation, the many bills and fees resulting from an injury may ultimately rest on you, no matter who was actually at fault.
Know What You’re Up Against
Determining the appropriate amount of compensation can be difficult, especially in the period directly after an injury occurs. In order to better navigate this complex period, it’s important to be aware of exactly what is involved when attempting to secure compensation.
• Compensatory damages are directly related to the incident in question. These damages can include things like repairs necessary for damaged property (such as vehicles), medical bills, and lost wages incurred by time away from work.
• Punitive damages are meant to punish the guilty party for their negligent behavior, which may have resulted in the subsequent injury and property damage. These can be harder to determine, and in most cases legal counsel will be necessary to establish an appropriate amount.
In most cases, figuring out the exact amount of damages is the first step to securing adequate restitution.