If you are injured in a personal injury accident, you suffer a variety of damages. Car accidents, slip and fall accidents, and defective product claims are examples of personal injury accidents. One of the most common damages suffered is lost wages. Many accident victims are out of work while they recover from their injuries and some victims cannot return to work at all. Lost wages can add into the tens or hundreds of thousands of dollars. Who pays your lost wages?
Types of Lost Income You May Recover
Loss of income is much more than simply lost wages. You may also be entitled to receive compensation for other forms of employment compensation you lost because of your personal injury. Examples of employment compensation you may seek in an accident claim include:
- Actual lost wages
- Sick days you used or lost because of the accident
- Bonuses you may have received if you had been at work
- Vacation days used or lost because of the accident
- Pay increases lost because you were unable to work
- Loss of earning capacity if you are unable to earn the same level of income because of your injuries
To receive compensation for your lost income, you must provide evidence of the lost income. Our Louisville personal injury attorney understands how to prove loss of income in an injury claim. We will help you gather the evidence you need to prove your damages from lost wages and loss of income.
When Do I Receive Money for My Lost Wages?
To receive money for your lost wages, you must file an injury claim against the person or entity that caused your injury. In a car accident, the claim is filed against the driver who caused the accident. In a product liability case, the claim is filed against the party responsible for the defect that resulted in your injury.
The insurance company for the responsible party is the entity that pays your claim, in most personal injury cases. However, the insurance company will not pay compensation for your lost wages until your claim is settled. Therefore, it could take several months, a year, or several years before you receive money for your lost wages. The time framed depends on several factors including the type of injuries, severity of injuries, length of recovery, and whether you file a lawsuit.
It is extremely frustrating to wait for payment of your lost wages. However, settling your claim too quickly may result in you losing thousands of dollars in compensation. Once you settle your claim, you cannot go back to the insurance company for more money, even if you discover an additional injury.
If you require additional medical treatment and you are out of work again, you bear the burden of those costs if you have already settled your claim. Therefore, it is crucial that you wait until your doctor states that you have reached maximum medical recovery before accepting a settlement offer.
Call a Louisville Personal Injury Attorney
If you have been injured in an accident, our Louisville personal injury attorneys can help you recover your lost wages and other damages. You can contact the Shelton Law Group by telephone at 1-888-761-7204 or by using our online contact form. Our Louisville personal injury attorneys offer free case evaluations and no-obligation consultations for accident victims and their families.