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Lost Wages

compensation for lost wages

If you are hurt in an accident that is caused by someone else, the person or entity who is to blame is required to pay for all of your losses. This includes not just compensating you for medical expenses and paying damages for pain that you endure, but also compensating you for lost income or wages.

Obtaining the full amount of compensation that you deserve after an accident can be complicated. However, an experienced Chicago injury attorney at Salvi, Schostok & Pritchard P.C., can assist you with your case and help you to get the money that you are entitled to under Illinois law.

Since our firm was founded, we have recovered in excess of $800 million on behalf of our clients, including 195 cases in which the recovery was $1 million or more.

Find out more about how we can help you by calling us today or completing our online contact form. We provide free initial consultations and serve clients across Illinois.

Types of Lost Wages

Lost wages in a personal injury or wrongful death lawsuit can cover many different areas, including:

  • Income you lose because your injury causes you to take time off from work.
  • Used sick days, vacation or paid leave due to your injuries. If your accident forces you to take five sick days, for example, you should be compensated for the use of this time off from work.
  • Any future reduction in earning potential. If you have to take a lower-paying job after the accident or cannot work at all, then you should be compensated for all economic loss this causes.
  • Lost financial support from a loved one killed in an accident. If your spouse, parent or other family member was earning money and supporting you and died in an accident, you should be compensated for a lifetime of this lost income.

The amount of money that you are owed due to lost wages after an accident will vary depending upon how much you make and on how your earning potential was affected.

For instance, if you are never able to return to work again due to the injuries, then you should be paid an amount of money that is roughly equal to what you would have earned over the course of your lifetime if the accident had not happened.

Determining the amount of money that you should be paid can be very complex, especially when you have a whole life of lost income to account for. Expert witnesses can be hired to inform the insurance company or jury of the estimated future value of your wages that you will no longer be able to earn.

A Chicago Injury Lawyer Can Help You Recover Lost Wages

Money for your lost wages can be obtained by negotiating a settlement outside of court. In most cases, the person or entity who caused your accident will have insurance, such as homeowner’s or renter’s insurance, which covers the losses. This means that you will likely be negotiating your settlement with the insurance company.

The settlement needs to cover all of your losses because, once you sign a settlement agreement, you are not able to go back and try to get more money. This is why you should never sign an agreement or settle your case without having an attorney look over the agreement and negotiate the best possible recovery for you.

Another option to obtain monetary compensation is to take your case to court. You will need to prove that the defendant was to blame for the accident and show the extent of your losses, including the amount of money you cannot earn or were prevented from making due to your injuries.

An injury lawyer at Salvi, Schostok & Prichard P.C., can assist with all aspects of your injury claim, whether you settle or sue, and seek the maximum in compensation.

Give us a call or contact us online today to learn more about how we can help with your claim. Our firm assists personal injury victims throughout Chicago and Illinois.

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