Should your injury have been the result of someone else's negligence, your medical costs and related expenses should be covered in a NY personal injury claim. The party responsible for the accident resulting in your injuries is liable for damages, especially in the event of serious injuries. However, calculating losses can be difficult.

Certain aspects of the financial losses, such as medical costs, lost income or wages, or property damage or loss, are obvious. However, calculating future losses associated with the injuries can get tricky.

This is where an experienced NY personal injury lawyer can help you. While your lawyer can help you navigate your case and get you fair compensation, they can also help you determine future losses you will likely incur.

Brandon J. Broderick, Attorney at Law has decades of experience in personal injury law, and can help you with your New York personal injury case.

Future Losses Explained

One of the most difficult types of damages to calculate is future losses. This refers to treatments or losses you may incur in the future, so it's not always clear how long you may need treatment or be out of work due to an injury. This is why it's important to seek legal counsel before accepting a settlement offer. If your injuries worsen after you accept a settlement, you cannot seek further compensation. For this reason, it is important to make sure you get the full amount of compensation you are entitled to, which may include future losses.

Any award or settlement must account for potential future losses. These losses are meant to make up for any future expenses you could experience down the road as a result of the injuries you currently experienced. If you need an in-home caregiver, for example. This would be a future cost that should be included in your compensation.

These future losses are an important part of a settlement because they provide you with the assurance that you will have the funds to cover your post-accident medical bills and future needs.

Types of Future Losses

Medical Costs

The more serious your injuries are, the more likely it is that you may need medical attention for a longer period, or even permanently. If you need to stay in the hospital or physical therapy, the total cost of your claim as well as your future medical costs could rise significantly as a result of these medical needs.

Common medical expenses that may be compensated as future losses include:

  • Rehabilitation costs
  • In-home or nursing care
  • Future surgery or medical procedures
  • Modifications to your house or car, due to a disability
  • Domestic services costs

An experienced NY personal injury lawyer will do a thorough investigation to determine how much to seek for your future medical expenses. Achieving maximum medical improvement (MMI) is often required before figuring out the total value of your claim. You want to know what to anticipate in the future so that you may make sure you have enough money to cover your future expenses.

Lost Earnings

Your accident-related injuries could, in some circumstances, make it impossible for you to work full-time or to return to work temporarily or permanent. You may need to reduce your hours or even change careers entirely. In these cases, you could lose a large portion of your income presently and in the years to come. Additionally, you can miss out on advantages like retirement plans, etc. Therefore, any compensation must account for potential future wage loss.

Below are questions you should answer and think about to determine this loss:

  • At the time of the accident, what was your net weekly income?
  • What is your pay now that the accident has occurred?
  • When do you intend to retire?
  • What is your reduced ability to work? Do you have a job or do you work a part-time schedule?
  • Has your injury interfered with your chances of getting promoted or continuing down your current career path?

Pain and Suffering

Other types of damages for which you may be eligible include pain and suffering. These damages, however, may be more difficult to put a value on, as this involves emotional distress or loss of enjoyment.

If your injury had a psychological impact and you were unable to maintain the same lifestyle or relationships that you had before the accident, for example, you could seek pain and suffering damages.

Give Brandon J. Broderick a Call Now If You Need an NY Personal Injury Lawyer

Retaining an NY personal injury lawyer can have a significant impact on how your case turns out.

If you retain the services of Brandon J. Broderick, Attorney at Law, you carry no risk. Our legal practice is contingency-based, meaning that we only get paid if we are successful in your case. We take our clients' satisfaction seriously and are not content if you aren't.

Contact our team today to schedule a free consultation. Let us discuss the details of your case and help you through this tough time.

Posted by: Brandon J. Bro…
Date: Mon, 11/13/2023 - 20:36

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