If your car accident injuries prevent you from working, you should understand how your lost wages and earning potential are valued and how you can get compensated.
If you have been injured in a car accident in Missouri, you may have determined what your vehicle was worth, whether or not it can be repaired, and what the costs will be. You may have also assessed your physical injuries and have an idea of how long it will take to recover, what treatment you will need, and a general idea of how much it will cost. However, like most other car accident victims, you may still be wondering what your lost wages and even future earning capacity are worth.
If your injuries prevent you from working during the recovery period or keep you from returning to your previous job, you should understand how your wage and earning potential loss are valued and compensated.
Present Wage Loss
If you cannot work for a certain period of time due to medical restrictions, hospitalization, or rehabilitation after a car accident, you have immediate wage loss to struggle with. If you can provide evidence of the missed workdays, the cause of the time off work, and usual weekly wages, these losses can generally be compensated by the responsible driver’s insurance company.
In most cases, simple evidence such as recent tax forms, proof of income from your employer, and check stubs can be enough. However, if you are an independent contractor or a business owner, wage loss is often hard to prove. In this case, you may use your taxes or seek help from your lawyer to estimate your income.
Loss of Income and Earning Capacity
A car accident victim may be able to seek compensation for lost wages and loss of future earning capacity. A victim can also seek compensation if the injuries resulted in long-term disability or prevent you from returning to your previous job. This happens more commonly when the employer required the victim to perform physical activities that they are now unable to resume after an accident. However, it is often difficult to prove these losses and may require evidence from doctors and other experts.
How Can a St. Louis Auto Accident Lawyer Help?
An experienced St. Louis auto accident lawyer can make it easy to prove the losses and establish liability. This is particularly true when the victim wants to recover compensation for wage loss and loss of future income potential after a car crash. Oftentimes, the insurance companies try to deny liability or decrease the value of the claim. Getting them to pay for lost wages, and especially loss of income potential can be even more difficult.
This is where the experience of a competent and experienced personal injury attorney can make all the difference. An experienced lawyer can ensure that your present and future losses are considered while pursuing your claim for full compensation. To speak with a car accident lawyer at The Hoffmann Law Firm, L.L.C. in St. Louis, MO, call (314) 361-4242 and schedule a free consultation.