Cost of future damages: factors to consider in calculations

Calculating the Cost of Future Damages: Key Considerations
Last Updated on July 4, 2023 by Carlos Lopez

It is not easy to make a damage calculation for the future, honestly speaking, many people do not know exactly what it is or even confuse it with uninterrupted profit.

It is therefore important to ask ourselves the question, what are future damages?

Future damages are the result of an injury or accident that will occur in the future. The injury or accident may be due to an automobile accident, medical malpractice or other type of personal injury.

What factors should be considered in future damages?

Future damages can be calculated by estimating the cost of repairs, replacements and other costs. There are many factors to consider when calculating future damages.

The first factor is what type of damage has been done to the item? For example, if someone’s car was scratched and needs to be repainted, this could be considered surface damage.

If someone’s car needs new tires, this could be considered major damage because tires are expensive to replace.

Other factors calculating future damages are:

How serious are your injuries? 

It is important to determine whether the plaintiff has suffered injuries as a result of the accident. If so, we must calculate the amount of compensation that corresponds to the plaintiff

We must take into account factors such as medical expenses, the length of time it will take for the injury to heal, how much pain and suffering has occurred, the cost of treatment and rehabilitation which in some cases must be carried out for life.

You should also read:Dealing with Emotional Distress After a Car Accident: Tips and Strategies for Recovery

What is your age and current life expectancy?

Life expectancy tables are useful to show that a person has a diminished life expectancy due to injuries sustained in a traffic accident or other accident compared to an ordinary individual. Especially if that person is younger

Is it possible to return to work?

When a serious accident takes place, the claimant may suffer injuries that make it impossible for him to return to work normally or even completely. 

This results in a loss of income and the development of an eventual economic hardship.

To calculate the potential loss, the difference in income before and after the accident is analyzed.

How can the future losses be calculated?

We begin by calculating the plaintiff’s annual net income, as this will serve as the basis for estimating how much he would have earned from the loss period.

In some cases, it may be necessary to present labor witnesses such as the employer or co-workers.

Other considerations may be that after the accident the claimant may have lost opportunities for job growth such as promotions, raises or others. This may require the advice of an employment consultant.

In addition to the fact that earning capacity has been lost after a severe injury, the claimant may be subjected to medical treatment throughout his or her life in turn generating medical expenses, which in a lawsuit is an element to be exposed since it may further deteriorate the plaintiff’s financial situation.

How are future damages from a car accident proven?

The main fact is in order to get damages from a car accident, you must prove that the other party was at fault.

If the other party is not at fault, then you will not be able to get any money. It is difficult to determine who was at fault.

You should also read:Handling Property Damage After a Car Accident: What You Need to Know Now

The person who caused the accident has to be able to prove that they were not negligent.

Car accidents are common in today’s society and the damages that they cause can be very costly, for example, with 37 fatalities, 2020 was the deadliest year for traffic crashes in Washington DC in more than a decade.

In order to determine who is liable for these damages, there are a few things that need to be considered.

  1. First, both parties have to show evidence of being in the wrong or negligent for causing the accident.
  2. Second, it should also be determined whether or not there was any contributory negligence on behalf of one party or another.

For a victim of a car accident to prove future damages, he or she must show that the accident will cause injury in the future.

There are three ways an injured person can prove future damages:

  • Medical evidence
  • Common sense and,
  • Expert testimony

Car Accident Lawyer in Washington, D.C.

If you were involved in a car accident in Washington DC and need help determining liability, contact a qualified car accident lawyer today with the team at Lopez Law Firm.

Comments

  1. Bryce Kirk says:

    Wow, calculating future damages seems like a complex puzzle! Cant imagine factoring in life expectancy and work potential. 🤔

  2. Jakari says:

    Wow, calculating future damages sounds like a complex puzzle! I wonder if they consider inflation too.

  3. Cal Haynes says:

    Wow, I never thought about life expectancy when calculating future damages. Interesting read!

    • Leighton Gibbs says:

      Actually, life expectancy is a crucial factor in assessing future damages. Its not surprising you never thought about it, most people overlook the obvious. Glad you found the read interesting though. Keep questioning, its how we grow.

  4. Stephen says:

    Hey guys, so after reading this article on future damages, I gotta say, age and life expectancy seem like a major wild card! Who wouldve thought that could affect the cost? 🤔

  5. Noah Coffey says:

    Age and life expectancy should not be a factor in future damages. Everyone deserves justice!

  6. Fatima says:

    Age and life expectancy should definitely be considered in future damages calculations. Its just common sense!

    • Rory Clements says:

      Actually, age and life expectancy are already considered in damages calculations. Its not just common sense, its legal practice. Maybe do some research before making uninformed comments.

  7. Chris says:

    Age shouldnt matter! We should focus on the potential for a full recovery instead.

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