If you were in a collision and suffered serious injuries that affect your ability to work, filing a car accident claim can enable you to get compensation for your financial losses. And, lost income due to needing time off work for treatment and recovery isn’t the only type of damages you can pursue – you may also be entitled to compensation for lost earning capacity. For an explanation of what that means for you and your case, read on.
What is Lost Earning Capacity?
Loss of earning capacity is a reduction in the ability to earn an income. So, if your car accident injuries make returning to your current job position impossible – and if you’re unable to switch to a different line of work that pays just as well – you can seek compensation for the impairment of earning power and loss of future income.
How are Damages Calculated?
While the amount of lost income awarded in a car accident claim is based upon the specific wages you weren’t able to earn as a result of the collision, loss of earning capacity is based on a projection. The damages haven’t yet been suffered, and calculating the overall impact of your injuries on your financial future isn’t an exact science.
We can tell you, though, that car accident lawyers consider several factors in determining appropriate compensation. Your past work history, skills and expected years of employment may be instrumental, and your lawyer may also investigate possible promotions and future raises you might have enjoyed if you hadn’t been seriously injured.
Proving Lost Earning Capacity
Compared to lost income, loss of earning capacity is much more difficult to prove. Working with an experienced car accident lawyer is to your benefit, as proving your claim may require all of the following:
- An extensive review of your employment record, your educational background and your work-related skills
- A thorough calculation of your past earnings history and exactly how much your income decreased after the collision
- A detailed analysis of today’s labor market and wage rates as well as economic projections and what the forecasts mean in terms of your future earnings
- Expert medical witnesses to provide testimony on the extent of your injuries and their impact on your ability to earn an income in the future
William R. Rawlings & Associates, a long-standing and top-ranked law firm based in northern Utah, can help you fight for the maximum compensation in your car accident claim. We’ve collected millions of dollars in damages for clients in Utah, Idaho and California, and our highly experienced lawyers are successful in obtaining compensation in 98 percent of the cases we handle.
Work with us, and we’ll fight to get you every dollar you deserve for lost income, lost earning capacity and all of your other losses. Contact our office and schedule a free consultation or to discuss your case with a Utah car accident lawyer today.