Posted on Thursday, July 9th, 2020 at 6:58 am
When you are injured in a car accident, you may sustain a variety of damages. Damages may include physical injuries, emotional distress, and financial losses. Your financial losses could be substantial if your injuries are severe and your recovery keeps you out of work for an extended time. The total of lost wages, medical bills, and other expenses can be high, especially in cases involving permanent impairments or disabilities.
Seeking Compensation for Lost Wages After an Accident
Lost wages in a car accident case can include numerous sources of income. Loss of income may include:
- Salaries
- Hourly Wages
- Commissions
- Bonuses
- Overtime Pay
Therefore, when calculating your lost wages, we make sure to look at what income you would have received had you been at work. For instance, based on the last four quarters, you received a 10 percent bonus. If you had been able to work, you would have likely received the same bonus. We argue that the bonus is part of the lost wages claim.
Overtime pay and commissions are the same. We look at past pay records to determine the average amount of compensation to calculate how much money the accident caused in loss of income.
Future Lost Wages and Income
In addition to the lost wages from the date of the accident through the date of settlement, you might also receive compensation for future loss of income. Future loss of income compensates you for the income you would have earned had you been able to work.
Future loss of income can be very difficult to calculate. Factors that must be considered include:
- Your age and life expectancy;
- Career and experience;
- Education and skills;
- Economic outlook; and,
- Whether your impairment is anticipated to be permanent or improve over time.
In most cases, an economist and other experts are needed to determine the value of a future loss of income claim.
Loss of Earning Potential or Capacity
In some cases, a victim may be able to work, but the injuries prevent the person from earning the same level of income because of an impairment. The difference between what you could have earned and what you are likely to earn after your injuries is a loss of earning potential or capacity.
Loss of Benefits and Opportunities
You may also receive compensation for the loss of benefits caused by the accident. Loss of benefits and opportunities may include a wide variety of compensation, such as paid insurance premiums and loss of retirement funds.
These damages are more difficult to value and recover. An experienced Sacramento personal injury lawyer can help you document these damages and fight for full compensation for loss of income and benefits after an accident.
Contact a Sacramento Injury Lawyer to Discuss Lost Wages
Negligence and wrongdoing can cause a tragic accident. The party responsible for the accident is responsible for your damages. However, proving fault and liability requires a certain amount of skills, experience, and knowledge. Our legal team has the expertise and resources you need on your side as you fight for the compensation you deserve after an accidental injury.
For a free consultation with a Sacramento personal injury attorney, call The Tiemann Law Firm at (916) 999-9000 to speak with a knowledgeable member of our legal team.
