Lost Income Damages after a Motorcycle Accident
No one ever
wants to deal with a motorcycle accident. While some accidents are relatively
minor, others can be truly life-changing. If you're faced with a motorcycle
accident, it's important to understand the repercussions and legal
ramifications. You do have options, and an attorney can help.
Types of Damages
There are a variety of damages that might
be relevant to a motorcycle accident. You're probably already familiar with
medical bills. Medical costs can add up quickly, and compensation for medical
expenses is quite common. This is precisely why your lawyer will tell you to
try and keep track of all related bills. It's crucial to have a paper trail to
present proof of these costs. Other possible damages include pain and
suffering, mental anguish, punitive damages, and destroyed or damaged property.
often lost as well. While you're in the hospital and recovering from your
injuries or undergoing physical therapy, you're not going to be able to work.
This means days, weeks, or even months of lost income. The results can be truly
devastating, which is why lost income is such a key consideration. It's always
something that's carefully considered and calculated.
Loss of Income
Many people think of lost wages as
simply impacting time missed. Obviously, this is taken into account, but future
earning potential is also a factor. In some instances, you may lose time off
work but eventually be able to return to the same job and position. This can be
great when it happens, but it isn't always feasible. For some accident victims,
they'll never again be able to do the job they once did. This is especially
true if it was a physically demanding occupation.
The result is
a loss of past wages and a loss of future earning potential. Since they can't
return to their previous work, they've lost any chance of those future earnings
as well. This realization can be psychologically and emotionally challenging,
which contributes to mental anguish.
Special Damages and Calculations
Lost earnings fall under a category
known as "special damages." Special damages are damages that are able
to be calculated. While determining previously past lost wages is relatively
straightforward, trying to calculate future earnings is a bit more complicated.
This is why your lawyer will likely hire an economist or another expert to help
calculate future lost wages. Future earnings have to take inflation and
real-dollar value into account as well as other variables, which requires the
appropriate area of expertise.
Terminology in the law attempts to be
very specific and clear, but it'd be wrong to assume that mental anguish, pain
and suffering, medical expenses, and lost wages are all totally distinct and
unrelated. As you can see, a single accident can have widespread consequences
for the victim. When you speak with your attorney, be sure to communicate the
details of your specific situation and provide as much information as possible.
If you've been in a motorcycle accident, you should contact Steelhorse Law at 1-888-382-6878. Your rights need to be protected, and there's no team more experienced and capable than the legal professionals at Steelhorse Law.