If you have been injured in an accident due to the negligence of another party, it can be overwhelming. Coping with physical pain and emotional distress is challenging enough. But discovering that your injuries are so severe that they prevent you from working can make an already difficult situation even worse. The inability to earn wages can lead to a cascade of financial difficulties. As such, it’s crucial to understand whether or not you can seek compensation for lost wages in a personal injury claim. Please continue reading as we explore what you should know about these matters and how an experienced New York City Personal Injury Lawyer can assist you in fighting for the compensation you deserve.
Can I Recover Compensation for Lost Wages?
Being injured in an accident can cause significant financial strain due to medical expenses, lost wages, and mental health impacts. If your injury resulted from someone else’s negligence, you may be entitled to pursue compensation through a personal injury claim to alleviate these financial burdens.
When pursuing a personal injury claim in New York, there are two categories in which you can receive financial compensation. The first is economic damages, which represent tangible financial losses you have experienced, such as medical bills, lost income, and property damage.
The second kind of damages you can recover are non-economic damages, which reflect your subjective, non-monetary losses, such as pain, suffering, and emotional distress. It’s important to note that non-economic damages are much harder to prove as they are not easily quantifiable. Both economic and non-economic damages are designed to restore a person to their original condition, essentially making them “whole” again.
How is This Economic Damage Calculated?
If you are seeking compensation for lost wages, it’s crucial to understand what you can expect. Generally, lost wages are calculated by multiplying the number of hours missed from work due to the injury by your hourly wage. If you are not an hourly employee, your salary can be divided by the number of workdays in the year to get a daily rate, then multiply the number of days missed.
However, calculating lost income becomes much more complex when severe injuries result in indefinite or permanent work incapacity. Several factors must be taken into account, including the expected duration of work absence, the potential for returning to work in a reduced capacity, and whether a promotion or pay raise was anticipated before the injury. That said, it’s advisable to consult with a seasoned attorney to discuss these matters.
At James Newman, P.C., we are prepared to help you value your lost earnings, both past and future. Our legal team can negotiate a fair settlement and effectively represent your interests in court, if necessary. Connect with our firm today to learn how we can fight for you.
