When making an insurance
policy claim or filing for a torte claim, it is not uncommon for many
plaintiffs who have gone through personal injury to make a lot of
mistakes when it comes to computing for economic losses.
Economic loss is the amount of
money you lose as a result of your personal injury. Hiring an
economist and a personal
injury lawyer in Coquitlam may help you in determining
economic losses accurately and effectively. Avoiding the following
mistakes can also help:
-
Only taking into account the plaintiff’s best year in earnings.
Many people choose their
highest-paid year to base their forecast in computing for lost
earnings. It is important to take into account your over-all work
history and choose a year that is not deemed anomalous such as years
when you’ve had an unusual high in earnings.
-
Not thinking about the full extent of mitigation
It is expected for plaintiffs
to consider all mitigation aspects of the case. In case the other
party hires an expert in employment, the projected costs of
mitigation coincides with your forecast. And since this is outside
the scope of an economist, finding personal injury lawyers in
Coquitlam such as Learn Zenk Barristers & Solicitors to explore
all mitigation possibilities is important.
-
Not considering the future possibility of unemployment
Creating assumptions and
coming up with a forecast solely based on a future where the
plaintiff does not suffer from unemployment puts them at a
disadvantage. It is important to consider the industry you are in as
well as your previous unemployment history to accurately determine
mitigation costs.
You can greatly avoid making
these mistakes if you talk to your personal
injury lawyer thoroughly and discuss all your possible options.
