Recovering Lost Earning Capacity Damages in Your Truck Accident Case
Depending on the extent of your injuries from your truck accident, you could be off work for months or more while you recover. One part of the compensation you could recover from the negligent driver and trucking company are your wages—both your past lost wages and your loss of earning capacity. Your lost earning capacity is your ability to earn wages from either your prior job or a comparable one in the future.
While calculating your back pay can be relatively easy because it would be based on the paychecks you never received, calculating your lost earning capacity can be more complicated. However, you want to be sure to include it in the damages you request to be fully compensated in your settlement.
How Is Lost Earning Capacity Determined?
You would only be entitled to lost earning capacity damages if you had not returned to work at the time of your settlement. In calculating this amount, it is important to consider the promotions, raises, and improvements in your talents and skills that could affect your job opportunities as well as the wages you could lose. Figuring out the amount of these damages can be challenging and requires some level of predicting what could occur in your future. Some factors that go into this calculation include:
- Reviewing your education, work history, skills, experience, and talents.
- Using current market values and rates to determine the amount of future income you will lose.
- Hiring a medical expert to give an opinion on the extent of your injuries, your medical prognosis, and how this will affect your ability to work.
- Hiring an economic expert who can more accurately determine the cost of the loss of your future earning capacity throughout your life.
If you have a serious injury—such as traumatic brain injury, chronic back injuries, or spinal cord injuries—your ability to work could be limited or you may never be able to work in the future. This could result in you losing a significant amount of income over your lifetime depending on your age. It is important not to forget your lost earning capacity in the compensation you are entitled to.
An experienced truck accident attorney can help you hire the experts you need and determine your lost earning capacity as well as other damages. Fill out my online form to schedule a free consultation to learn how I can help you.