Calculating the Costs of Future Damages in an Injury Claim

Posted on behalf of Pfeifer Morgan & Stesiak

on February 24, 2022

. Updated on March 23, 2022


using calculator on deskThe costs incurred after an accident are often more than just those that occur immediately after your injury. Sometimes accident victims suffer serious injuries that do long-lasting damage to their lives and the lives of their loved ones. That is why it is important to pursue compensation for not only the damages you suffer in the moment, but also for those damages you may experience in the future, such as additional medical expenses.

Our experienced car crash lawyers in South Bend are prepared to fight for the full compensation you need after an accident caused by another driver’s negligent actions.

We offer a free consultation to discuss your legal options, and we do not charge you anything while we work on your claim.

Below, we discuss some factors that must be considered when determining the value of future damages.

How Serious Are the Injuries?

The injuries suffered in an accident often play the largest role in how much your future damages may be worth. Mostly because the severity of your injuries may dictate the medical treatment you require in the present and the future.

Some injury victims may only need physical therapy for several weeks or months before recovery, which might be complete prior to the settlement of a case. However, there are other types of injuries that could require intensive treatment, care or surgery.

For cases that require surgical intervention to treat an injury there may be a chance that more than one surgical procedure is necessary.

Future medical costs may add up, adding significant value to a claim. Some of those costs may include:

  • Specialist visits
  • Future surgeries
  • Home or vehicle modifications
  • In-home medical care
  • Prescription costs
  • Medical equipment costs

To help determine the value of these future damages, your attorney may gather information from your treating physicians to see what treatments you may need in the future.

Is the Injury Victim Unable to Work?

If the injuries you suffered in the accident keep you from working your current job, or any job, you may be eligible for loss of earning capacity compensation. Cases in which the injury victim may claim this type of compensation may be worth more because the liable party must pay out a significant amount to cover more than just medical bills and pain and suffering damages.

For a loss of earning capacity claim, an injury victim may be able to recover future damages such as lost future income, which could include:

  • Commission pay
  • Fringe benefits

In cases when the injured party can work but must take a position that pays less than his or her previous position, the liable party may also have to pay some of the difference in salary and fringe benefits, like retirement or pension plans.

For accident victims with dependents who are unable to work due to their injuries, the compensation award for future damages may be worth more because the award must account for those dependents.

What is the Life Expectancy of the Injury Victim?

The age and life expectancy of the injury victim are also important when determining the value of future damages. Age and life expectancy may factor into several things, including the value of lost earnings.

Compensation for someone in the prime of their career who is injured and left unable to work may be worth more than for a person who is on the brink of retiring, or even an 18-year-old who does not work a full-time job yet.

As for the likelihood of a full recovery, age and life expectancy matter because an older individual’s injuries may require extensive future medical care that could drive up the value of the claim. Meanwhile, a young adult who suffers a similar injury may not require so much medical attention, resulting in fewer expenses.

Call Today to Schedule a Free Consultation

It is important to evaluate the circumstances of the injured individual when determining how much future damages may be worth. Doing so often requires experience and legal knowledge the average person does not have.

Fortunately, our attorneys have decades of combined legal experience and are prepared to help you file a claim to pursue the compensation you need for all your damages, including possible future expenses.

Call (574) 444-0741 to learn more.

Pfeifer, Morgan & Stesiak

Serious Attorneys for Serious Cases