On average, individuals who experience unexpected injuries can lose 2/3 of their earnings for the period they miss work. On top of that, injured people are left to deal with medical expenses on their own if they do not have insurance or insurance is not willing to compensate for their treatments. This period when you cannot work is known as “earning potential.”
The earning potential regarding personal injury lawsuits can vary widely and is influenced by several factors. It’s important to note that compensation in personal injury cases is designed to address the losses and damages suffered by the injured party. Here are key factors that can impact the earning potential in personal injury lawsuits:
- Severity of Injuries: The extent and severity of the injuries sustained by the plaintiff play a crucial role. More severe injuries that result in significant medical expenses, long-term rehabilitation, and permanent disability generally lead to higher compensation.
- Medical Expenses: Medical bills incurred due to the injury, including past and future medical treatments, surgeries, therapy, and prescription medications, are factored into the compensation amount.
- Lost Wages: If the injury causes the plaintiff to miss work or results in a diminished earning capacity, compensation may be awarded for lost wages, both past and future.
- Pain and Suffering: Non-economic damages, such as pain and suffering, emotional distress, and loss of enjoyment of life, are subjective and can contribute significantly to the overall compensation amount.
- Property Damage: In cases involving vehicle accidents or other incidents causing property damage, the cost of repairing or replacing damaged property may be considered in the compensation calculation.
- Liability and Negligence: The degree of liability and negligence on the part of the defendant is a crucial factor. If the defendant’s actions were particularly reckless or egregious, it may impact the amount of punitive damages awarded.
- Insurance Coverage: The insurance coverage of the at-fault party and the plaintiff’s insurance policies can influence the potential recovery. If the at-fault party is underinsured or uninsured, it may limit the available compensation.
- Legal Representation: The quality and experience of the legal representation can also impact the outcome. Skilled personal injury attorneys may negotiate more favorable settlements or present stronger cases in court.
- Jurisdiction: Laws regarding personal injury vary by jurisdiction, and local laws can influence the amount of compensation that may be awarded.
Earning Potential Lawyer – Winkler Kurtz, LLP
It’s essential for individuals pursuing personal injury claims to consult with our experienced personal injury attorney. Our attorney can assess the specific details of the case, calculate potential damages, and navigate the legal process to help maximize the compensation that may be available based on the circumstances of the injury. Remember that every case is unique, and outcomes can vary based on the situation’s specifics and the applicable laws.
Winkler Kurtz, LLP can help you if you have been injured due to another party’s negligence. Our experienced team of personal injury lawyers is dedicated to helping you recover the compensation you need to cover the health expenses that came as a result of your injury. Reach out today to schedule a consultation.