New York personal injury attorney Samantha Kucher releases a new article (https://www.rrklawgroup.com/new-york-personal-injury-economic-lossess-calculator/) explaining what an economic losses calculator is. The lawyer mentions that recovering compensation from a personal injury usually requires that many factors should be considered. There must be a starting point for the settlement negotiations whether it is through an insurance claim or a personal injury lawsuit.
“While every accident and recovery will be different, insurance companies and courts must come to a basic understanding of what the possible payout will be for an injury claim. They will collect an objective list of the expenses that were actually incurred by the injured party, called economic damages, and then add more subjective factors, non-economic damages, to that figure. The total of these will be the starting point for determining the final compensation,” says the New York personal injury attorney.
The lawyer explains that in an injury claim, age may also be one factor to consider when dealing with compensation. Future medical costs, loss of earning capacity, and non-economic damages are some of the few things that are affected by age when it comes to recovering damages. The younger the victim, the longer the life expectancy and this could affect the duration of time they may need financial compensation.
Attorney Samantha Kucher adds that the compensation for loss of wages and loss of future earning capacity will be based on the victim’s current annual salary. The victim’s hourly wages or salary will be multiplied by the number of hours or days they missed work because of their injury.
In the article, the attorney says that other factors may also be considered in the salary calculation such as the overtime regularly made, lost promotion opportunities, and lost wage increase. Lost sales commission, and lost bonuses.
According to the injury lawyer, “Other damages can sometimes be recovered in a personal injury case that can be less easy to quantify. These damages, called pain and suffering or non-economic damages, cover any physical pain and mental and emotional effects that the accident and injuries have had on the victim.”
Lastly, attorney Samantha says that having a personal injury attorney may be able to aid the victim and their loved ones understand their legal rights.
About Kucher Law Group
Kucher Law Group is a firm founded by the personal injury attorney Samantha Kucher. She and her team of experienced personal injury attorneys have dedicated their careers to protecting the rights of their clients. Call the Kucher Law Group today at (929) 274-8000 to set up a free consultation
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