Serious car crashes often result in significant injuries. Collisions are a leading cause of fractures, brain injuries and spinal cord injuries. Those that get hurt in a wreck can typically rely on insurance for at least some of their expenses, provided that they were not wholly to blame for the crash.
Liability coverage carried by a driver who caused the wreck can help cover costs related to medical care and also the secondary consequences of someone’s injuries. Those secondary consequences include the career impact of an individual’s injury. Insurance and personal injury lawsuits can help those hurt in a collision recover both lost wages and lost earning potential. Each of these job-related losses could add tens of thousands of dollars to a crash claim.
What is the difference?
People often confuse lost income with lost earning potential or may not recognize the idea of lost earning potential until it affects them directly. Lost wages are somewhat obvious. They are the standard income someone would have received if they had been able to work. Time spent in the hospital or at a rehabilitation facility will likely result in substantial lost wages during someone’s recovery. Some people affected by car crashes are lucky in that they have injuries that eventually fully heal. Others will have lasting side effects. Those who still have pain or functional limitations after a car crash injury could need to recoup lost earning potential.
When a medical issue leaves someone unable to continue working full-time or in a high-demand profession, that person may have to give up future income that they would likely have earned if they had avoided the injury. A drop in income due to reduced functionality or a move to a lower-paid profession would lead to lost earning potential and could significantly increase the value of a claim after a car crash.
Especially when there are lasting symptoms related to someone’s injury that affect their professional aspirations, car insurance alone may not be sufficient to cover their expenses. Determining the true financial impact of a car crash is key for those hoping to pursue full compensation for the losses they have incurred.