Car accident claims can account for much more than just the immediate financial and personal losses a victim experiences. For example, if your injuries have left you unable to work in a similar capacity – or at all – you may also be entitled to compensation for loss of future earnings after a car accident.
What Is Loss of Future Earnings?
Loss of future earnings refers to the income you are reasonably expected to miss out on in the years ahead because of limitations due to your injuries. Lost future earnings are different from the wages you have already lost from missing work immediately after the crash.
Loss of future earnings or reduced earning capacity can also apply if you can return to work but are not able to earn as much as you did before. Importantly, this category of compensation is not limited to catastrophic injuries. What matters is that your earning ability is less than it once was.
How Loss of Future Earnings Is Calculated
How much compensation you might receive for lost future earnings depends on the unique facts of your case. There is no set formula for calculating lost future income. Instead, courts and insurance companies will look at a variety of factors to estimate what you likely would have earned in the future if not for your injuries.
The courts ultimately decide the final amount if a settlement cannot be reached. Expert testimony can often help bolster claims for lost future earnings.
Factors That Affect Loss of Future Earnings in Alabama
Many factors can influence how much you might be able to recover for lost future income after a car accident. Every case is unique, and the calculation depends heavily on the available evidence and documentation.
Some important considerations often include:
- Your age and expected remaining work life
- Your occupation, skills, education, and training
- Your earnings history and potential for promotions or raises
- The severity and permanence of your injuries
- Whether you can return to the same job or must change careers
- The availability of suitable employment within your physical limitations
Do You Need a Lawyer to Recover Future Earnings?
When car accident injuries are serious enough to affect your long-term ability to work and earn a living, you should turn to an experienced Alabama car accident attorney for support in preparing your claim and negotiating with the insurance company. Otherwise, you risk accepting a settlement that may not account for the full scope of your losses.
Our skilled personal injury lawyers have a verifiable track record and know how to prepare a persuasive claim and work with our network of expert witnesses to support your claim for lost future earnings.
Call the Accident Attorneys at Morris, King & Hodge, P.C., Now for a Complimentary Consultation
Morris, King & Hodge, P.C., has recovered over $168 million for our clients, including multiple seven-figure car accident verdicts and settlements. We have built a reputation for trustworthy and effective legal representation since 1966, and are ready to support you in seeking the just outcome you deserve.
Contact our personal injury law firm 24/7 to discuss your case for free with car accident lawyers you can trust.
