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MYRTLE BEACH ATTORNEYS OF THE YATES FIRM
Myrtle Beach Car Accident Lawyers for Lost Wages
If you were injured in a car accident due to someone else’s negligence, do not hesitate to contact the Myrtle Beach car accident attorneys of The Yates Firm. You might be entitled to compensation for your unearned wages.
Car wrecks often cause severe injuries that prevent people from returning to their jobs or earning their usual wages. Lost wages can significantly affect your finances, leaving you unable to afford your medical bills and other expenses. You can face financial strain and massive debt if you don’t receive the money owed to you from the insurance company.
The Yates Firm knows how to calculate lost wages and pursue maximum compensation for Myrtle Beach clients. We can handle all aspects of your lost wage claim so you can focus on healing your injury. Call us at (843) 692-3237 for a free consultation to learn more.
What Is Considered “Lost Wages?”
Lost wages are the wages a person is unable to earn due to an injury. The injury prevents them from making their usual income, whether they can’t maintain employment or can return to their job but at reduced functional capacity. Lost wages can include base pay and additional employee compensation, such as overtime.
The factors involved in determining someone’s lost wages include:
- Regular pay – Typical wages are the salary or hourly pay lost due to an injury in an accident.
- Bonuses – Recovering compensation for lost bonuses might be possible if you can prove your bonus package is an essential part of your pay.
- Overtime – If you work overtime hours regularly, you can include this in your lost wage claim. However, your inability to earn overtime pay must be directly related to your injury.
- Medical insurance, 401(k) contributions, and other benefits – As an employee, you likely receive benefits from your employer. Lost wages can include compensation for 401(k) contributions you can’t make or medical benefits you miss out on while out of work.
- Employee perks – If you cannot use the perks that come with your job because your injury has left you with a temporary or permanent disability, you can seek compensation to cover those expenses. Common perks include a gym membership, discounts at local establishments, and a company vehicle or phone.
Calculating Lost Wages After a Car Accident
Calculating your lost wages likely won’t require a complicated formula. Determining your lost wages should be simple if you receive hourly or salary pay. As an hourly employee, you will multiply the number of hours you are unable to work after the car wreck by your hourly pay. You can include other forms of lost wages if they apply, such as commissions, overtime, and employee benefits.
If you receive a salary, divide your annual salary by the number of work hours in a year to determine your hourly rate. There are 2,080 work hours. Then multiply your hourly rate by the number of hours you missed from work (lost days x 8 x hourly rate) to arrive at your lost wages.
For example, if your salary is $40,000, your hourly rate is $19.23. If you missed 25 days from work because of your injury, your base lost wage calculation would be 25 x 8 x $19.23 = $3,846.00.
Determining Lost Wages if You’re Self-Employed
Sole proprietors and independent contractors can face more challenges in a lost wage claim. Their earned income likely fluctuates from week to week or month to month. Without a base hourly rate or salary, proving lost wages is complicated.
The insurance company might require substantial evidence to agree to pay your claim. You can show your income tax returns, invoices for services rendered, and other documentation. Providing physical proof of the money you couldn’t make after the car accident is crucial.
Evidence You Can Use to Prove Your Lost Wages
You must submit evidence to the insurance carrier to prove you have suffered lost wages from the car crash. Evidence can include:
- Lost Wage reports
- Letters from your employer
- A job description showing your duties at work
- Previous tax returns
- Statements from healthcare professionals about the nature of your injury and how it affects your job performance
- Pay stubs
- Employment records showing the experience and skills you have to seek new employment or transfer to a different position at your current job
Steps You Should Follow After a Car Accident
A car crash is traumatic. However, you can take steps to improve your chance of recovering compensation. Building a case against the at-fault party starts on the day of the collision. You should immediately seek treatment at a hospital or doctor’s office.
The doctor might recommend ongoing treatment. You should follow their orders. Attending every appointment is necessary to prove the extent of your injury. If it’s severe, you will likely require months of treatment. Skipping appointments shows the insurance company your injury is minor, or that you don’t take your recovery seriously.
Maintaining adequate records is also essential after a car crash. You should keep copies of every document related to your case, including medical bills and records. Taking detailed notes can also help your claim. You should write down your symptoms and whether they worsen during specific activities.
Hire an attorney soon after the collision. An attorney can represent you in your case and handle each step of the process on your behalf. You won’t have to worry about gathering evidence or talking to the insurance adjuster. Your lawyer can take care of everything so you can focus on treating your injury.
Contact an Experienced Myrtle Beach Car Accident Lawyer for Lost Wages
At The Yates Firm, we understand how devastating it is to get hurt in a car wreck. Your injury prevents you from returning to your job and earning the income you need to pay your bills. Although it might seem hopeless, options are available to cover your expenses.
We can help you file an insurance claim and pursue compensation for your lost wages. You will have a dedicated legal team fighting by your side until the end. You can depend on us to protect your rights and seek the justice you deserve.
If you were injured in a car accident due to someone else’s negligence, call the personal injury lawyers at The Yates Firm at (843) 692-3237 for a free consultation today. We’re available 24/7 to speak with you about your case.