Injuries suffered in an accident may lead to physical or mental limitations that can leave you unable to return to your usual work duties or force you into a lower-paying job. This can have a profound effect on your financial stability, especially if your previous line of work required specific skills or physical abilities that you can no longer perform.
While you are entitled to compensation for a reduced earning capacity, proving that reduction can be complicated. Understanding what goes into demonstrating the impact of your injuries on your earning potential is essential to receiving a fair settlement. Here’s what you need to know.
Medical evidence is crucial
Your medical records can help show how your injuries impact your ability to work, be it physical restrictions, cognitive impairments or emotional challenges. Presenting evidence that clearly outlines the nature and severity of your injuries and any long-term effects can strengthen your claim.
Your work history and employment records matter
Your work records, such as job descriptions, salary history, promotions and raises you have received can help establish your earning potential before the accident and provide a baseline for comparison to your future capabilities.
For instance, if you were on track for a promotion or a significant pay raise, your records can show what you have lost due to your injuries. Similarly, documents showing specialized training or certifications your job requires can highlight how your injuries have disrupted your ability to utilize those skills.
Financial experts can provide key insights
A qualified assessment of your situation can help provide an informed estimate of the financial losses you may face over time. Economic professionals can consider factors such as your career trajectory, limited job opportunities, anticipated future income, inflation and cost of living to present a clear picture of your reduced earning capacity.
Substantiating your claim for diminished earning capacity requires a strategic approach to help ensure that you present a compelling case. Seeking legal support can help you understand your rights, gather solid evidence and pursue fair compensation for this and other challenges caused by your injuries.