How do you put an accurate price on injuries that you suffered?

If you wind up severely injured, it can be very difficult to fully grasp the impact of the injury at first. Whether you got hurt due to a car accident or negligent property maintenance on the part of another person, an injury can have long-lasting and complex consequences for the person who suffers it. This can make accurately pricing the impact of that injury incredibly difficult.

Unfortunately, an estimate of the financial impact of the injury is necessary if you want to seek compensation from the party responsible for said injury. There are many factors to consider, ranging from provable financial impacts to more complicated costs. Putting an accurate figure on all of these considerations is necessary if you hope to receive adequate compensation for your injury.

The first thing you should do is look at bills and known expenses from the injury

An injury that necessitates medical care will have a trail of bills that follow it. Everything from initial trauma care, which can cost up to $20,000, to physical therapy will have an exact dollar amount of associated with them. Collecting all of these bills will help you add up the current medical expenses caused by the injury.

Talking with your doctor about ongoing care that you will require will help you also create an estimate for future medical expenses. Additionally, you should explore how the injury impacts your wages. The more time you have to miss from work, the more financial burden it creates for you. You, theoretically, can hold the responsible party financially accountable for all of your lost wages, including future lost wages if your prognosis indicates you will never return to work.

Beyond that, you can also use resources to determine the cost of any property damage associated with your injury, such as the cost to repair or replace your vehicle. However, those are not the only expenses that you need to consider.

Look at secondary expenses that result from your injury as well

Did your family always rely on you to clean the gutters and mow the lawn? If your injury leaves you unable to perform those household services, the cost of hiring someone else may be part of what you can collect in a personal injury lawsuit. When you can no longer provide for your own needs due to an injury, the expense that the inability creates can sometimes be part of a successful personal injury lawsuit.

Each situation involving a personal injury is unique. There is no black and white formula for exactly calculating the financial impact. However, knowing the impact that the injury has had so far and will likely have on your finances is a good starting point. Discussing your situation with an attorney who understands personal injury law in Texas may also be a wise choice.

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