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Important things to know about lost wages and lost earning capacity after a car crash

On Behalf of | Oct 31, 2022 | Motor Vehicle Accidents

If a negligent driver caused your accident, you may be owed several types of compensation, including lost income or lost wages due to your inability to return to work. You may have a claim for lost income even if your job provided you with paid leave, as you lost the value of your leave. In addition to the income you did not receive while you recovered medically, your career opportunities and earning capacity may have also been diminished because of the crash.

When calculating the full cost of a car accident injury, your lost wages and any diminished earning capacity should be taken into account. Your injury could have long-term effects on your life, and that needs to be considered when you pursue compensation for your injuries.

When career opportunities have been lost

Your career may have been rising, or you may have expected to earn more or be promoted based on your skills and training. You deserve appropriate compensation if an injury affects your potential earning capacity.

To receive the full compensation you deserve, it is important to work with an experienced personal injury attorney. Depending on the circumstances, an attorney may consult with vocational experts who can help assess your reduced earning capacity, as well as determine your long-term economic losses.

Do not settle for less than you deserve

If you suffer injuries due to another party’s negligence and the injury has affected your career and long-term income potential, it is crucial to understand the full value of your personal injury claim. While lost wages could make up a significant part of your settlement, the full range of damages must be considered. Knowing your claim’s worth can help you avoid accepting a lowball settlement offer from the insurance company. To learn more, please see our New Mexico Personal Injury FAQ.