The emotional, physical and financial losses can be devastating when you have been involved in an accident caused by someone else. By filing a claim against the liable party, you may be able to recover compensation for those losses. Among the most impactful losses (or damages) suffered after an injury-causing accident in Illinois are lost wages, income, and job benefits.
At Staver Accident Injury Lawyers, P.C., our Chicago personal injury lawyers can help recover your lost wages and other compensation after a car accident in Illinois. Contact us for a free consultation to learn more about your case’s worth.
When you’ve been injured due to the negligent or wrongful acts of another, one of the most significant financial hardships people endure is lost wages. When your injuries prevent you from working for any time, you have the right to be compensated accordingly.
It does not matter what type of injury you experienced. If your injuries were severe enough to prevent you from being able to work, you could be entitled to financial compensation.
Lost wages may seem cut and dry, but there are many types of lost income you have the right to recoup. You have the right to be compensated for your current income loss and your diminished earning capacity.
Some common types of lost wages you could recover include:
Determining the value of your future earning capacity and lost wages can be more challenging than you think. You and your attorney must gather compelling evidence proving your right to compensation for lost wages if you hope to get the most out of your claim.
If you suffered a work-related injury, you may be able to recover lost wages as part of your workers’ compensation benefits. In these cases, a workers’ comp lawyer can usually help you file a claim that seeks disability benefits to replace a portion of the income you are losing by being unable to work.
However, workers’ compensation disability benefits generally amount to approximately 2/3 of your average weekly earnings. Your remaining lost wages could be recovered through a personal injury claim against the liable party.
It may not always be clear whether you are entitled to loss of income compensation. However, if you are unable to work, lost out on hours, were fired after being injured, or are otherwise unable to continue earning a living the same way you were before your injuries, you may be able to seek damages.
Your Chicago personal injury attorney will need to closely evaluate the details of your case to determine whether another party’s negligence or misconduct is the cause of your injuries. If another party is at fault, they can be compelled to cover your lost wages in their entirety.
To determine your lost wages, your accident attorney and likely a financial professional will need to closely evaluate your current income. Generally, you can calculate lost wages by multiplying your hourly rate by the average hours you work each week to calculate your basic lost wages.
If you were a salaried employee, your attorney could calculate the value of your lost wages by dividing your yearly salary by 2,080 and multiplying that number by the number of hours of work you missed.
If you hope to recover your lost wages in full, you must establish to an insurance company or court that the amount you seek is appropriate and valid. By providing various evidence to support your case, you could get the insurance company and the court to compensate you for every loss.
Some common types of evidence that prove lost wages include:
Proving diminished earning capacity may be more challenging. Your attorney may need to enlist a financial expert to accurately calculate the value of your potential future earnings.
Coworkers, supervisors, and witnesses may be called upon to testify regarding your work habits, character, education history, job training, and future career goals.
Any evidence that the judge, jury, and the insurance company can see that can prove to them that the amount you are seeking for your lost wages is appropriate should be presented to support your case.
Several factors are analyzed in decisions regarding the financial compensation you deserve after an accident or injury claim. This is particularly true with lost income or earning power. These factors include:
These represent a basic idea of how the courts determine whether you should be compensated for diminished or lost earnings. When non-standard lost wages are involved, you should seek legal help to ensure you are fairly compensated.
To secure the most restitution possible for your lost wages and potential future earnings, you should be prepared to file a claim with the insurance company and bring your case to court. No matter what type of accident you were involved in, the defendant is more than likely represented by an insurance provider.
In filing a claim with their insurance company, you may be able to recover a portion of your lost wages. However, most insurance policies do not cover lost wages or diminished earning capacity. If the defendant does carry this coverage, there will be limits on the amount the insurance company will be required to pay out.
If the defendant did not have insurance coverage, or if their coverage was lacking and you have remaining income losses, you can seek restitution for these damages by filing a civil lawsuit against the liable party.
Yes, if your injury impacts your ability to work long-term or permanently reduces your earning capacity, you may be entitled to compensation for future lost income. Vocational experts and economists are often used to estimate these losses.
Lost wages refer to the income you’ve already missed due to your injury. Loss of earning capacity refers to your reduced ability to earn income in the future because of long-term disability or impairment caused by the accident.
Yes, self-employed individuals can recover lost income, but it often requires more documentation, such as invoices, profit and loss statements, 1099 forms, or bank records that show a decline in income during the recovery period.
Under Illinois law, you generally have two years from the date of the injury to file a personal injury lawsuit, including claims for lost wages. It’s best to act quickly to preserve evidence and protect your right to full compensation.
If you are interested in recovering the compensation you are entitled to following an accident but are unsure where to turn for help, reach out to an experienced Illinois no win no fee lawyer at Staver Accident Injury Lawyers, P.C.
We offer no-cost, risk-free consultations to injury victims across Illinois. Call (312) 236-2900 or fill out our online form.
When you’re fighting for maximum compensation, we know what it takes to get it.
