If you have sustained injuries in a Las Vegas car accident, you have probably started an insurance claim. In this case, there are many expenses you need to consider including a possibly huge medical bill. You may be hoping that such expenses will be taken care of by your car insurance. However, you may not have thought about reporting future expenses. These expenses do not just cover future hospital bills. There are a lot of future financial considerations you must report to your insurer. It is important to work with a skilled car accident attorney at acelawgroup.com to project future and long-term losses and expenses.
Identifying Possible Future Expenses Following a Car Accident
If you have been in a car crash that resulted in serious personal injuries or long-term medical problems, you may file an insurance claim. This claim will cover the expenses you have currently incurred because of the injuries. However, you should also consider future costs to ensure you get full compensation for all your damages. You should keep in mind future expenses such as medical and healthcare expenses, long-term and home care, non-economic damages, lost income and lost earning capacity, out-of-pocket expenses, financial and future planning, and legal and professional fees.
By documenting these expenses, you can put together a well-supported insurance claim. This will provide you with a better chance of getting the compensation you need for your injuries.
Collecting Comprehensive Medical Information
Consult with every healthcare provider who cares for you following the crash. Your healthcare providers may include doctors, therapists, specialists, and surgeons. Medical records must include notes on your injuries and treatments. Speak with your lawyer to know when to offer an insurer this information. The medical reports should include information such as medical history and diagnosis details, a list of treatments and surgical procedures conducted, and notes on your progress and any complications.
Anticipating Future Medical Costs
To obtain compensation for future medical costs, you must give a detailed medical prognosis from healthcare providers. This should include possible future complications, long-term care needs, and required ongoing treatment.
By consulting with various medical professionals, you can acquire differing opinions regarding how long your condition will last and any future challenges that you may face because of it. Such opinions are important when estimating future medical expenses. This will help you propose a settlement amount or counter-settlement offers from the insurance provider. Possible future medical needs can include surgical procedures, medical equipment, medications, therapies, and routine and specialist visits.
Calculating Lost Wages and Lost Earning Capacity
When calculating your expected future expenses, you should also include your future lost earnings. This can be done by evaluating the effects of the crash on your ability to work. Consider your work history, possible career trajectory, and the restrictions caused by your injuries. To get accurate results, perform this process with your attorney. Your attorney will walk you through the steps below to determine your lost earning capacity.
- Document current earnings. Collect recent pay stubs, employment contracts, and tax returns to establish your current earnings. All forms of income, like bonuses, benefits, and overtime must be included. Give details about your employment history like job titles, tenure at every position, and responsibilities.
- Evaluate future earnings potential. Examine your projected career growth and promotions if the accident never happened. Think about your personal career path and industry standards. Anticipate future salary increases according to industry averages and historical trends.
- Determine the effects of the injury. Medical reports can be used to determine the extent of physical limitations you may have and their impacts on your ability to carry out work-related tasks.
- Determine lost earnings. This includes calculating immediate lost wages starting from the injury date to the present. Make sure time missed for doctor’s appointments and recovery is included. Examine expected work life and calculate the wages lost going forward.