If you have been injured in an accident due to another person’s negligence, you may be eligible to pursue compensation to help cover any financial losses you have suffered. One of these losses could include loss of earning capacity. Unlike medical expenses and lost wages, recouping the future loss of income due to an injury that prevents you from working can be a lot harder to prove.
The licensed Windsor personal injury lawyers from our firm further explain how a loss of earning capacity is calculated following an accident and what is needed to strengthen a claim for compensation. Get the answers to your legal questions in a complimentary consultation with no obligation to take legal action.
How Loss of Earning Capacity is Defined
Loss of earning capacity is the income you will reasonably lose due to your injury. This is a different kind of loss in comparison to the loss of income. Loss of income is the number of wages and employment benefits you have already lost from an inability to work while in recovery.
Your loss of earning capacity would be the value of the loss of your future income or wages. For instance, if you were involved in a slip and fall accident that caused you to suffer a serious impairment or disability, you may be unable to work in the same capacity as before or work at all. Pursuing compensation in a claim for loss of earning capacity will be based on the income you would have been expected to earn in the future, had you not been injured in the accident.
Calculating Loss of Earning Capacity
Loss of earning capacity is not calculated based on your actual earnings, prior to or even after being injured. These losses are calculated based on your ability to earn income after the injury. Certain factors must be taken into consideration when assessing loss of earning capacity. This may include:
- Your age
- Overall health
- Education and skillset
- Job or profession
- Previous work history
- Experience in your field
- Your life expectancy
- Reduction in your earnings
- Advancements in your field
- Current market value and wage rates
- History of promotions or raises
Any of these factors above could potentially be used to help calculate the difference between an estimation of what your earnings would have been if not injured and what they currently are.
Proving Loss of Earning Capacity After an Injury
Being able to prove loss of earning capacity can be hard to prove, especially without legal representation on your side. These losses can be subjective and require additional evidence and possibly expert testimony. To obtain compensation for loss of earning capacity, you will need to prove the following:
- The other person’s negligence resulted in the accident and your injury
- Your injury has impaired your ability to earn income in the future
- What your earning capacity would have been if the accident did not happen
- What your projected future earnings would now be due to your injury
Let Us Help You Pursue Fair Compensation
If you have suffered an injury in an accident that has prevented you from earning wages in the future, you may be eligible to pursue compensation for loss of earning capacity. Our legal team at Greg Monforton & Partners is prepared to offer legal advice in a free, no-obligation consultation.
You pay us nothing upfront in legal fees and we only receive a payment if we successfully help you get compensation for your losses. Our firm is available to take your call anytime or chat online.
Get the help you need In a free case evaluation. Ph: (866) 320-4770.