How is lost income factored into a car accident lawsuit in Connecticut?
New London, CT – Car accidents tend to cost victims large sums of money for a number of different reasons. Aside from medical treatment and healthcare costs, lost wages tend to be the largest part of a person’s losses, especially if their injury prevents them from working for months or years. The victim can try to bring a negligence case to force the person or business responsible for the accident to pay for these kinds of costs. If they are successful, the defendant will have to pay a significant amount, which will include costs related to lost income and time away from work.
Damages and total losses
A significant part of any personal injury lawsuit is the calculation of damages. This is the legal term for lost income and other problems caused by the defendant’s behavior.
As a practical matter, damages are essentially the total value of all losses tied to the person’s problems caused by the defendant. Healthcare and medical costs, property and vehicle damage, along with pain and suffering are the typical costs factored into damages.
Lost wages and income
Another crucial part of damages is how much income a person lost during their injury and the course of recovery. Most accident victims will lose out on at least a few weeks or months of income if they are hurt in the collision.
In serious cases, the person’s future lost wages can be projected as well if it is apparent they will not be able to work as normal. For example, someone who requires significant assistance through medical technology or caretakers is generally not going to be very valuable as a worker anymore.
A person who loses out on decades of their salary due to a serious injury may ask for hundreds of thousands or millions of dollars in damages for future lost income. In these kinds of cases, future lost income is the largest aspect of the damage award.
Value of a settlement agreement
The value of any case can be highly variable, even though most cases settle without the need for a full trial. A settlement will generally pay the victim a sufficient amount to cover much of their costs, without too much compromise. The lawyer for the plaintiff can factor issues related to lost income in the settlement negotiations with the defendant.
More information about civil accident cases
Anyone who has been involved in an accident in Connecticut can get legal help to determine if a lawsuit is necessary and defend their rights. Holth and Kollman is a trusted injury firm that assists clients in the New London area with settlement agreements and other aspects of collecting damages.
Firm contact info:
58 Huntington Street, New London, CT 06320