If you’ve been involved in an accident, the financial toll of your injuries can be devastating. If your injuries were sustained due to the negligence of another driver or a company, you are well within your rights to receive compensation. This compensation includes the cost of your treatment and lost income. Calculating lost income can be troublesome. You need to include all forms of income, which often includes more than simply our lost work wages.
What is Recoverable?
As we stated, you’re entitled to reimbursement of lost income. However, you should know that this includes income from time you were unable to work and time you spent undergoing medical treatment. Depending on the severity of your injuries, this time may be considerable.
Whether you have a full-time or part-time job, regular or contractor positions, or are self-employed. It does not matter. You were injured and deserve compensation.
It’s vital to understand that income loss is typically not part of the settlement value. Instead, it is tacked on after the amount has been decided upon.
Sick Leave and Vacation Pay
If your company offered you sick leave or paid vacation for the time you were out of work, you’re still owed compensation. You were entitled to that sick leave and vacation time before you were injured – at a time when you might have needed or wanted the time off. Therefore, using sick leave is considered the same as losing out on income itself.
To be reimbursed, you’ll need to show the time you missed from work due to the accident and the amount of money you would have made during that period. Keeping documentation of everything is important.
If you’ve been involved in an accident, contact the Todd Durham Law Firm by calling (972) 362-0046. Remember, we’re here for you!