Calculating Lost Income In Monterey Personal Injury Claims
Personal injuries in Monterey can happen for a variety of reasons. Motor vehicle crashes, slips and falls, and sports or recreational accidents are all common causes. Unfortunately, these can impact the victim’s health and financial security for years into the future. Our Monterey personal injury lawyer helps you get the compensation you need for current expenses and future costs, including lost earnings and benefits. Find out more about calculating lost income in your personal injury claim.
The High Costs Of Personal Injuries
According to the Centers For Disease Control and Prevention (CDC), personal injuries result in more than $4 trillion in losses each year. A significant portion of this represents losses in income and benefits suffered by victims and their families.
Long-term disabilities that prevent you from working can happen due to even seemingly minor accidents in Monterey. Common types of personal injuries likely to result in lasting impairments that impact your ability to work or perform certain tasks on the job both now and in the future include:
- Deep cuts and lacerations, capable of causing scarring, disfigurement, and loss of use of limbs;
- Head injuries, resulting in permanent physical, emotional, and cognitive impairments;
- Soft tissue injuries, resulting in torn muscles and tendons, impacting use and mobility;
- Spinal cord injuries, resulting in partial or complete paralysis.
When filing a personal injury claim in Monterey, you only have one chance to get the compensation you need to recover. Once you accept a settlement, you waive your rights to any future claims. To protect your financial security, be sure and factor future lost income into your costs.
Getting Compensation For Future Lost Wages And Benefits
Personal injuries often require long months to recover from and it is important to not settle your claim prior to reaching the maximum level of medical recovery. This is the point at which any ongoing health issues you experience are likely to result in long-term disabilities.
These can impact your ability to work, to perform certain tasks required on the job, or to excel in your chosen field. Under Section 3333 of the California Civil Code, damages in personal injury lawsuits are designed to compensate victims for both current and future losses. In calculating the amount of lost income, be sure and factor in the following:
- Future lost wages based on your current income;
- Any promotions, bonuses, commissions, or other compensation you may have received;
- The cost of having to provide for your own health care, retirement accounts, and other benefits provided by employers;
- Missed financial opportunities, such as starting your own business.
Speak With Our Monterey Personal Injury Lawyers Before Accepting A Settlement
Future losses in income and benefits can represent significant amounts of money in personal injury claims. To get the total amount of compensation you need to recover, speak with the Allen Law Firm before accepting any settlements. Call or contact our Monterey personal injury lawyers online and request a consultation today.