If you end up in a car wreck on a Florida road, you may have sustained serious injuries that impact your ability to work and provide for yourself and your family. So if you go to court seeking compensation for your medical costs, the judge may address any of three “losts” that you have sustained, specifically, lost wages, lost earning capacity and lost compensation. These are concepts that will likely come up as part of your injury case.
The injuries inflicted by a motor vehicle accident may necessitate a long recovery period during which the injured person cannot return to work and earn wages. As FindLaw explains, when your case is settled or the court renders a judgment, you are entitled to receive these lost wages. The key to determining eligibility for lost wages is demonstrating to the court that your injuries were caused by the accident and not by any other event.
The concept of lost earning capacity refers to the loss of your ability to work as you once did before your accident. For instance, if you receive an injury that makes it harder to use your hands, your ability to perform your current job might be impacted. As a result of the accident, you now have a disability that diminishes your ability to work. This is what we mean by lost earning capacity.
Lost compensation sometimes comes up in injury cases. Some people mistake it for lost wages or lost earning capacity, but in reality, lost compensation is much broader. It does encompass lost wages, but it also involves different financial benefits than your regular income. It includes bonuses and various benefits offered by virtue of your current employment, anything you would have received had the accident not occurred.
Knowing these concepts is important if you are injured in an accident and need to seek lost wages or benefits. Since the needs of people hurt in car accidents will vary, do not read this information as legal advice for your situation; it is only intended for educational benefit.