How Is Recovery For Losses Calculated?

If you've been severely injured in an accident it can be a difficult experience to get through. Not only do you need time to heal, but you may also be worried about the monetary losses associated with your injuries. When filing a civil lawsuit to recover your losses, you may be curious about the details of the different types of losses that can be included in a personal injury lawsuit.

What Is Included In Economic Loss?

Recovery for economic losses can be proven through documentation. What are some of the damages that can be claimed in relation to economic loss after you have been in an accident.

Lost Future Wages: When injuries are severe enough it can greatly impact one's ability to perform tasks that enable one to efficiently gain and keep employment. In order to be able to have a decent quality of life and continue to take care of basic living expenses, one can claim Lost Future Wages. Your lawyer will calculate this amount in relation to the amount of your current salary through retirement. This can also include benefits you would have incurred, as well as the amount of money it will cost to hire outside sources to help with common day to day tasks and errands.

Car Repairs: How much will it cost to either get a new car or repair the one you have now? If the amount of money it costs to fix the car outweighs the worth of the vehicle, you may claim the amount it will cost to completely replace the vehicle.

Lost Wages: Even if your injuries are only temporary, any time off from work costs monetarily. Especially when you have recovery costs to take care of, plus regular living expenses. You can claim the amount in present Lost Wages that you would have accumulated if you had been able to work if you had not been injured.

Medical Bills: Recovery for medical bills can cover everything from the initial transportation from the scene of the accident to the hospital, surgery, prescription medication, follow up visits, physical therapy, etc.

There are also non-economic losses to consider. Different states put these pieces of criteria into different categories, so it's important to talk to your lawyer about a recovery of losses for these topics. These can include disfigurement, loss of consortium, and mental anguish.

An experienced lawyer can go over the details of your case and discuss your recovery options after an accident.

Should You Pursue A Personal Injury Lawsuit?

To help you make the decision on the course of action you should take following an action, contact a personal injury lawyer for a free consultation. This is enable you to sit down with a lawyer, get to know each other, discuss the details of your accident, answer your questions about the process and their personal injury experience, as well as determining if it's worth pursuing your case.

To schedule your Free Consultation with Welmaker contact us at 210-828-6033 or Toll Free at 1-800-494-1916.