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How to Calculate Future Losses in Personal Injury Claims

After an accident due to someone else’s negligence, a victim should file a personal injury claim. A personal injury claim seeks justification for a settlement from those found at fault. The goal of compensation for damages sustained is to make amends for the accident and restore the victim’s life to how it was before the incident occurred. Although this isn’t always possible, especially in the case of serious injuries, accurate compensation will take into account any future losses due to the accident. 

Why Is it Important to Factor Future Losses in Personal Injury Claims?

In a personal injury claim, past and future losses will be submitted in a settlement case. Past claims are straightforward to track. It’s every expense or loss from the accident until now. However, future losses in personal injury claims are more difficult to predict. Therefore, it is recommended you work with a personal injury attorney to help you receive an accurate claim. 

It’s important to factor future losses in your personal injury claim because, depending on your injuries sustained and damaged property, there could be a long-lasting impact.

Future Medical Expenses 

Part of your injury claim will include future medical expenses for your personal injury. Medical expenses are based on the severity of injuries sustained. Permanent injuries may require long-term care, extensive or ongoing treatment, and future procedures. Medications can be costly and predicting how much they will cost and how long you will be taking them as well as the cost of any other necessary equipment that may be required will be included in your future medical costs.

The victim’s doctor or specialist can provide an evaluation of injuries sustained and a prediction of what treatment could look like. A cost would be calculated based on this evaluation. A consultant may be brought in to help determine future costs considering inflation and other factors. 

Victims with long-term or permanent injuries can have their life completely altered, requiring emotional and mental support. In addition, major modifications may need to be made to your home in order to live your daily life, all of which should be included in your total compensation.

Future Pain and Suffering

Pain and suffering is always difficult to evaluate in a personal injury claim. It isn’t as tangible as property damage or physical injury and requires time and evidence to build a case. However subjective it may be, you must seek compensation, especially for future pain and suffering. Many car crash victims experience depression, anxiety, and trauma. 

The age, life expectancy, and lifestyle of the victim are all taken into consideration when determining future losses. Was the victim active? Were they attending school on a sports scholarship? These aspects would affect the outcome of the settlement case.

Future Loss of Earnings

Calculating your future earning losses is one of the biggest aspects of your damage compensation case. How to calculate the future loss of earnings for personal injury is determined by comparing your earning potential before and after the accident. 

Depending on your injuries and the effects of the accident, whether mental, physical, or other, you will likely earn a different wage than you would have before the accident. This applies whether the effects are short-term or long-term. 

Future loss earnings damages prevent ongoing financial suffering as a result of an accident. You can claim future income loss regardless of your employment status. This damage applies to how much you could have earned before the accident. Other factors included are your household income and if you are proven to be the main or sole provider in your household. 

Crossen Law Firm – Indianapolis Personal Injury Lawyers

When calculating your future losses and damage claim after an accident, working with an attorney is the best course of action. Personal injury attorneys specialize in building a strong case for you to receive an appropriate settlement. At Crossen Law Firm, our Indiana personal injury attorneys are dedicated to helping you and your loved ones become whole again after experiencing a difficult event like a car accident. Contact us today at 317-401-8626 to get started on your personal injury claim.