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Lost Wages From Car Accident – More than 3 million people are injured in car accidents in the United States each year. The average total number of days missed due to these injuries is over 11. Unfortunately, missing 11 days can hurt your finances. According to recent studies, 63 percent of Americans live paycheck to paycheck. Fortunately, you can recoup those lost earnings. In many car accident cases, plaintiffs claim for lost wages in addition to medical bills, property damage, and lost potential earnings. Here’s everything you need to know about how lost wages are calculated in accident claims.
Lost wages are money you could have earned if your car accident injuries had not prevented you from working. Generally, the term “lost earnings” refers only to the money you could have earned since the injury until you are compensated — either through a verdict or out of court. These lost earnings come in many forms. You may have missed work hours due to medical problems or a long hospital stay. Maybe your injury has forced you to stay home and miss hours. Or you may have a mental health crisis as a result of an accident (such as post-traumatic stress disorder, anxiety, depression, etc.) that is causing you to miss work.
Lost Wages From Car Accident
In many cases, victims of car accidents can recover these wages from the at-fault party in the accident or through an insurance claim. Lost wages refer only to compensation for missed work hours. Your car accident claim may include additional expenses such as sick pay, lost compensation (including lost benefits, promotions, etc.) and lost earning potential.
Lost Wages From Car Accident With Injury: How File A Claim
Calculating lost wages is simple. If you work hourly, calculate the number of hours missed and multiply that by your hourly pay. For example, you were recently involved in an accident and missed three days of work due to being in the hospital. You make $28 an hour. You have missed a total of 24 hours of work (3 days x 8 hours). Since you make $28 an hour, you have $672 ($28 in 24 hours) in lost wages.
For employees, the equation is similar. Take your annual salary and divide it by the number of working days you work each year (usually 2080). You then take that number – which is your hourly pay – and multiply it by the number of hours you missed. For example, you were recently involved in a car accident and had to stay home for 5 days to rest – missing 80 (5 x 8) hours of work. You make $55,000 a year. Since you work a standard 2,080 hours per year, you earn $26.40 an hour. Your lost wages are $1,056 ($26.40 for 40 hours).
Note: Sick leave or vacation is not included in the calculation of lost wages. You were forced to use those days and you should still be compensated regardless of whether you took sick leave or not.
Lost wages are proven in a variety of ways. To begin with, you should collect documents from the employer. This includes a salary confirmation form. In this statement, your employer will calculate the amount of income you lost because of your injury. In addition to this letter, your claim can be supported by information about previous wages or a tax return. Finally, you can use medical records and hospital receipts to demonstrate how long you were in the hospital and how long you had to rest at home.
Can You Recover Lost Wages After My Car Accident?
Proving loss of earnings as a self-employed person is more difficult. Depending on your situation, time away from work can include lost clients and opportunities. Therefore, these tangible and intangible costs should be considered. Since you’re acting as your own boss, any salary you pay yourself is likely to be a small portion of your total lost earnings – as many small business owners have complex salary structures that help keep the business afloat.
If you are self-employed, it is very important to choose an experienced and focused personal injury attorney. Aside from the sheer difficulty of proving a loss of earnings, the opposing party may argue that the loss of income was due to external factors unrelated to the injuries. And the process of arguing this can get complicated, messy, and filled with paperwork. Therefore, it is important to hire an attorney familiar with these types of accident cases.
Injuries related to car accidents can completely change your life. Of the 6 million car accidents each year, about 2 million result in serious, long-term injuries. After accounting for lost wages, medical bills, and property damage, there are still significant costs associated with lost earning potential. What promotions, new career paths, and bonuses could you have gotten if you hadn’t been seriously injured? Unlike lost wages, which only consider losses between injury and settlement, lost earnings are future earnings.
Important: Calculating lost earning potential is more difficult than lost earnings. Expert witnesses, such as medical professionals and forensic analysts, may be called to testify regarding these potential numbers. And your personal injury attorney will probably sit down and help you figure out the scope of those earnings.
Calculating Lost Wages In Car Accidents
If a car accident left you disabled, you may qualify for workers’ compensation insurance and/or Social Security Disability Insurance (SSDI). More than 8 million Americans currently receive SSDI payments, which help provide income to those who cannot work because of a disability. Unfortunately, SSDI has some requirements:
Most employees are also required to have workers’ compensation insurance. If your accident happened while you were working, you may be able to claim Temporary Total Disability (TTD) benefits. In addition, your employer may provide private accident insurance.
Remember, workers’ compensation, private insurance, and SSDI may not be comprehensive enough to cover your damages. Contact your auto accident attorney to discuss your case.
Children involved in car accidents may be eligible for compensation, and our experts can guide you through the process of obtaining compensation for children in car accidents. Additionally, if you are dealing with insurance trusts after a car accident, we have resources to help you navigate this difficult situation. Texting and driving are a common cause of accidents, and we’ve put together a list of facts to help you understand the risks of texting and driving facts.
Steps To Prove A Nighttime Car Accident
If you are unsure how to proceed with your car accident claim, our team can provide you with the necessary steps to process your car accident claim. Additionally, it is important to know how comparative negligence can affect the effect of comparative negligence in a personal injury case.
Have you recently been in a car accident? AKD specializes in auto accident cases, and we can help you find compensation for lost wages, lost earning potential, medical bills, mental health expenses, and property damage. Car accidents can disrupt your life, destroy your financial health, and leave you feeling abandoned. Do not hesitate to contact a specialist to discuss your case. Contact us online or at 504-200-0000 for a free consultation. We are excited to announce that we are relocating our St. Louis office to a new location in the Hill District. Starting October 27th, you can find us at our new address: 4900 Daggett Ave., St. Louis, MO 63110.
We are excited to announce that we are relocating our St. Louis office to a new location in the Hill District. Starting October 27th, you can find us at our new address: 4900 Daggett Ave. 63110.
This page has been written, edited and reviewed by a team of legal writers in accordance with our comprehensive editorial guidelines. This page has been endorsed by founding partner Terry Krupen, who has over 40 years of experience as a personal injury attorney. Our last modified date shows when this page was last viewed.
Lost Wages Form Car Accident: Fill Out & Sign Online
A car accident can affect your life in many ways. You may find that the extent and severity of your injuries, as well as the emotional stress you are experiencing, prevent you from returning to work. If you are forced to take paid time off (PTO) during your recovery or are out of work for an extended period, an experienced Missouri car accident attorney can help you claim damages for lost income. If you have been injured in a car accident, you may be entitled to compensation for lost income, wages and benefits. An experienced Missouri car accident attorney can help you increase your compensation.
At Brown & Crouppen, we have successfully worked with clients to recover their financial losses following a car accident, and we are ready to do the same for you. Contact us today for a free case evaluation.
Lost earnings refer to money, income, and benefits that you cannot get after a car accident. Examples of lost wages include:
If you can prove that you would have earned compensation from your work had you not been injured in the car accident, you may be able to receive compensation for it.
Can You Recover Lost Wages If You Cannot Work After An Injury?
In Missouri, insurance is the first and primary source of compensation after a car accident. All drivers in the state are required by law to purchase a policy that complies with Missouri law, which includes:
Because Missouri is a fault-based state, you can seek benefits from the at-fault party’s auto insurance company. This includes compensation for lost wages under a personal injury liability insurance policy.
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