As a car accident victim, it helps to look beyond lost wages when pursuing compensation for the damages you’ve suffered. You are entitled to the pay you missed while recuperating, for example. But what if the injuries reduce your earning capacity?
Picture a scenario where you cannot return to your former job due to mental or physical limitations arising from your injuries. In such a case, you may have to take on less demanding roles or even lower-paying jobs to make ends meet in light of your situation. Your career advancement opportunities may go up in smoke as a result.
The effect of your injuries on your future earning capacity is something you should not overlook as a car accident victim, given its potential impact on your financial security and long-term future.
Factors considered when assessing your lost earning capacity
Determining how the injuries you sustained in a crash affect your future earning capacity is not always straightforward. Unlike immediate losses, you cannot present concrete evidence that definitively places a value on your losses. Various factors go into ascertaining the extent to which your ability to earn income has been affected. They include:
- Your earnings before the accident
- The extent of your injuries and the medical prognosis
- Any occupational limitations
- Your age and work history
- Market trends and job availability
- Mitigating efforts, like vocational rehabilitation
- Expert opinions, among others
The list goes on and on, depending on the particulars of your situation. In a nutshell, you are entitled to the difference between your expected lifetime earnings before the accident and the projected earnings post-accident, given the impact of your injuries.
This reality amplifies the need for proper legal guidance to understand your rights, gather relevant evidence and build a compelling case that will help secure the compensation you deserve when all is said and done.