The Rockford Personal Injury Attorney would help you calculate the damages before actually sending a demand letter to the insurance company of the party at fault. Let us delve on what special damages or damages that could be precisely calculated entail.
Special damages or damages capable of precise calculation
Special damages would be inclusive of property damage. It would be inclusive of the costs of fixing or replacing the car post-accident. It would also be inclusive of lost earning capacity, other financial losses, and medical bills associated with the accident. It would be pertinent to mention here that such would be calculated easily, as they could mostly be added up. As the medical bills along with the damaged property in the accident claim have been straight forward.
As the word implies, lost earnings would be how much you actually stand to lose due to the injury.
You may wonder on the working of lost earnings. For instance, you earn nearly fifty thousand annually and you have been completely disabled for a year because of serious back injury occurred due to an accident, and you could now only return to a part-time job to make approximately twenty-five annually. You would have lost earnings of fifty thousand along with a lost earning capacity of twenty-five thousand annually for the rest of your working life expectancy. It would apply in the event of your injuries being permanent or for a significant length of time.
The work-life expectancy would be based on federal government statistics. It would determine the expected number of years that you might work in a reasonable manner. It would also be inclusive of the age of the person along with other available aspects.
Due to future lost earnings entail calculation of losses that might extend to several years into the future, it would be calculated in terms of the present value.