Being unable to work as a result of injuries sustained in a car accident can magnify the costs the collision. Not only do you have more money going out to cover your unexpected medical bills, but you also have less money coming in (if any at all). For many accident victims, this financial stress can be overwhelming – as they sit at home waiting to recover from the consequences of someone else’s mistake. Fortunately, a Denver accident attorney may be able to help you recover these losses and more.
Recovering Financial Compensation for Loss of Income Due to Accident-Related Injuries
In Colorado, car accident victims who suffer serious injuries due to someone else’s negligence are entitled to just compensation for all of their injury-related losses. This includes all forms of financial and non-financial harm. On the financial side, this includes compensation for current and future medical expenses (and other out-of-pocket costs), and it also includes compensation for lost wages and lost earning capacity.
1. Lost Wages: The Income You Lose Through the Date of Your Settlement or Verdict
If you are unable to work due to your injuries, you are entitled to compensation for the time you were forced to miss from work. Your inability to work can either be due to physical limitations (i.e. a broken leg), debilitating pain or emotional trauma. However, regardless of the specific issue, you should be missing work based on a doctor’s advice. If you don’t have a doctor’s recommendation to stay home, the insurance companies will argue that you could – and should – have returned to work sooner.
Although the term commonly used is “lost wages,” accident victims can recover all types of lost income resulting from accident-related injuries. This includes salary, commissions, tips and benefits.
2. Lost Earning Capacity: Compensation for Your Inability to Work in the Future
In addition to the income that you lose through the date of your settlement or verdict, you are also entitled to compensation for the income that you will be unable to earn in the future. This is referred to as “lost earning capacity.” A clam for lost earning capacity can be based on either:
- Total inability to work (either temporarily or permanently); or,
- Being limited to lower-paying job opportunities as a result of your injury.
In either case, calculating the long-term financial effects of your injuries can be tricky, and your attorney will need to work with a financial expert to calculate a figure that can be presented to the insurance companies (or in court, if necessary). But, the effort will be worth it, as accident victims’ long-term losses are usually be far greater than their immediate financial and non-financial harm.
Speak With a Denver Accident Attorney at Levine Law
If you were injured in a car accident and have been unable to work since the collision, we encourage you to contact us for more information about your legal rights. To speak with a Denver accident attorney at Levine Law, call 303-625-9848 or request a free consultation online today.