You might already know that you have the right to damages after a car accident. Lost wages are included in your damages. What you might not know is how to recover your lost wages after a car accident. While it should be a simple process, insurance companies make it difficult and time-consuming to recover your damages. However, with a knowledgeable car accident attorney representing you, you can be assured that you will obtain the best possible compensation for your lost wages.
Calculate Your Lost Wages
Before filing a claim or accepting a settlement offer, you need to know the value of your lost wages. Knowing this ensures that you get what is rightfully yours. Here’s how you can calculate your lost wages depending upon how you are paid:
Annual Salary: Determine the number of workday hours in a year. Divide your yearly salary by that number. Then multiply that sum by the hours of work you missed due to your injury. For instance, if you earn $40,000 annually and missed 80 hours of work, you make $19.23 per hour. Multiply that number by 80, and you should be owed $1,538 for your lost wages.
Hourly: Determine how many hours of work you missed. Multiply that number by your hourly wage. For example, if you make $15 per hour and you missed 80 hours of work, your total lost wages would be $1,200.
Lost PTO, Vacation Days, and Retirement Benefits
You might be able to request compensation for the PTO or vacation days you didn’t accrue due to your missed hours at work. If you lose retirement benefits because you aren’t able to work for an extended period, you can also ask for compensation for those. If necessary, your attorney can work with a team of benefit and compensation professionals to accurately calculate what your lost wage and benefit damages are worth.
What if You Can’t Return to Work?
If your injuries are so severe that you can’t return to your job or a similar position, you could receive compensation or future lost earnings. Your attorney can work with vocational experts to calculate just how much money you will lose over your lifetime by not being able to go back to work.
With your medical records and other information from your employer and vocational experts, your car accident attorney can prove how your injuries will affect your long-term ability to earn wages and financially support your family.
Contact Salam & Associates for a Free Consultation
If juggling your doctors’ appointments, your family’s needs, and your insurance claims sounds like too much to deal with, don’t delay meeting with a seasoned car accident attorney. When you work with our team, we carefully investigate your car accident, calculate your lost income and other damages, and stand up for your rights if the insurance adjuster attempts to undervalue your injuries.
Our lawyers are licensed in Texas, New Mexico, Michigan, and Washington D.C. Contact us online at www.salampc.com or [email protected] to schedule your complimentary case consultation.