Why You Shouldn’t Omit Future Medical Expenses in Your Car Accident Compensation
Once a car crash has occurred and they have sustained an injury, some are more concerned with how much the injury will set them back in terms of finances. This is because the more serious the injury, the higher the medical expenses.
Future medical costs are an important concept, particularly in the unfortunate event where the injury sustained needs specialized long-term care. In such situations, it is important for victims to seek the assistance of experienced car accident lawyers. These legal professionals will fight for the rights of the victim and help them get the compensation they deserve. They can also represent the victim in court if a fair settlement cannot be reached during out-of-court settlement negotiations.
The sections below discuss why car accident victims shouldn’t ignore future medical expenses when demanding compensation.
Long-Term Health Impact
Some injuries, for example, spinal cord injuries, TBIs, or fractures, often take several months to heal. You will be unable to work during this period. This means that you will be spending money on dealing with your day-to-day expenses without a steady stream of income.
This is why you need to look very carefully at the possibility of future medical expenditure and include that in your settlement.
Future Costs Are Unpredictable
Medical expenses for severe injuries may increase over time. Even routine check-ups or ongoing medication needs can be financially draining. While it may be impossible to predict exact future medical expenses, ignoring them can be disastrous.
You may be left in a spot where you will have to deal with the consequences of the accident, but there is no way to reopen the claim. This is because once you accept an out-of-court settlement, you waive your rights to sue the at-fault party in the future.
Calculating Future Medical Expenses
To accurately calculate your future medical expenses, it’s essential to work with an experienced car accident lawyer who has the resources and expertise to assess long-term costs.
The lawyer can collaborate with medical professionals to project the costs of future treatment, therapy, and even assistive devices you might need. Some common future medical expenses may include:
- Rehabilitation
- Physical therapy
- Follow-up surgery
- Long-term prescription medications
- Home care or assisted living services
- Counselling
Failing to include these expenses in your claim could result in inadequate compensation, forcing you to use personal funds to cover them later on.
Guidelines for Compensation
Personal injury laws allow victims to seek compensation for both current and future damages. However, there is a set time period, called the statute of limitations, to file a claim. This time period is usually two years from the date of the accident. If you don’t account for future medical costs in your initial lawsuit, you won’t have another chance to claim them later.
Common Mistakes to Avoid
Many victims accept the first offer of the insurance company without seeking the advice of a car accident attorney. This is a big mistake.
Insurance companies may offer a quick settlement that covers immediate costs. This offer is usually made with the intent of closing the claim quickly rather than compensating the victim. It’d be wise to not accept this offer.
Another common mistake is failing to seek expert medical evaluations that can predict the long-term impact of the accident. A thorough medical evaluation is often used to diagnose hidden conditions.
Conclusion
Future medical expenses are a crucial component of any car accident compensation. Without accounting for these costs, you may find yourself financially overwhelmed when the need pops up suddenly. Partnering with knowledgeable legal professionals ensures that every possible expense is considered, protecting your financial future in the process.
