Protecting Your Rights And Your Future

Calculating lost wages in a personal injury claim

On Behalf of | Aug 25, 2022 | Personal Injury |

There are various kinds of damages that you can claim if you suffer physical harm from another person’s negligence. Among them is lost wages should your injuries prevent you from working for a considerable period of time. 

Compensation for lost wages covers the money you would have earned were you working as usual, including work benefits and overtime pay. Ascertaining lost wages may seem pretty straightforward at first glance. After all, you are entitled to the lost wages relative to the period your injuries put you out of work. 

However, what if you suffer permanent injuries that you have to live with for life? How are your lost wages accounted for?

Future potential earnings are considered

You may have been having a budding career showing a lot of promise, only for the accident to ruin everything. Therefore, basing your lost wages at current rates for years to come is not justifiable given the room you had for growth. The unrealized potential is usually factored in when arriving at lost wages following a personal injury.

Your age also matters because it determines the period of time you would reasonably be expected to work. Other factors considered when determining lost potential wages are your current earnings and health status.

Getting everything right

Predicting the unforeseen is a matter of speculation. Therefore, it may be advisable to engage an independent financial expert who can back up the estimates using verifiable methods. Figures that are too off or exaggerated may be rejected.

Calculating lost wages and other damages in a personal injury claim is not an easy feat, especially if you have a permanent injury. The long-term effects of such injuries should have your eyes on life ahead, given that everything is bound to change drastically.