Tag: Calculate long-term expenses in a personal injury claim

How to Calculate Long-Term Expenses in a Personal Injury Claim

How to Calculate Long-Term Expenses in a Personal Injury Claim

Some injuries are minor, so they will heal within a matter of days or weeks. But unfortunately, many injuries that personal injury victims sustain are far more serious. Some victims may not see a significant improvement for months or even years after the accident. Others may never see any type of improvement. If you have sustained an injury that will continue to affect you in the future, it’s imperative that you add in the cost of long-term expenses and lost wages when calculating the value of your claim. How can you calculate long-term expenses in a personal injury claim? Follow these tips:

Talk to your doctor.

A good place to start when calculating these expenses is with your doctor. Talk to him about what the future looks like for you. How long will you need to attend rehabilitation? Will you need any other treatments? Is it possible that you could suffer a setback in your recover and need additional treatment? Will you be able to return to work? Ask your doctor to provide you with a written statement that covers these topics. Not only will this help you calculate your long-term expenses, but the statement can also be provided to the insurance company and used as proof of your future expenses.

Calculate recurring expenses.

Some expenses may be recurring, so you should look at how much you’re currently paying, then figure out how long you will be paying these expenses. For example, if you have to take prescription medication as a result of your injuries, figure out how many refills you will need of the medicine, and then calculate that number by the cost of one month’s supply.

Figure out your lost wages.

It’s possible that your injuries will affect your ability to work, so you will need to calculate how much income you will lose in the future. Let’s say you have had to find a new job that does not require physical labor because you could no longer perform the duties of your old job. This new job pays you $3 less per hour than your old job, so you are losing $3 every working hour because of your injuries. In this case, you should work with an attorney to determine how many years you would have spent in your old job if you had not been injured. Then, you can calculate exactly how much income you have lost because of your injuries.

Calculating long-term expenses in a personal injury claim can be challenging, so don’t attempt to do it without the help of an attorney. If you have been injured, contact Reisch Law Firm at once. We will immediately begin to gather evidence related to your injuries so we can accurately calculate the value of your claim. Schedule a free consultation today by calling 303-291-0555 or filling out this online form.