Auto Accident Wage Recoveries for Your Missed Wages
Auto Accident Wage Recoveries for Your Missed Wages
You were toolin' down the avenue, minding your own thing, when out of nowhere, this fumbling, stumbling guy by the name of Freddie Fuddle sped past a stop sign and smashed into you with a massive, rip-roaring, screeching broadside, causing you to lose consciousness. Despite the fact that you were wearing your seat belt, the impact was nevertheless a thunderous one that twisted and flung you about the interior of your automobile.
With the case finally closed after a lengthy recuperation time, Fuddle's insurance company, Granite Mountain Insurance, is eager to put it behind them. They've assigned claims adjuster I. M. Strong to take care of your claim. You and Strong are seated at your kitchen table discussing the settlement money you received from the court. It turns out that he's had some issues with you since you've lost some money. As a result, here are some important points to consider:
The loss of earnings is one of the most significant components of your damage award. Pay close attention when I say, "You should not consider the days you were absent from work as a loss of time or earnings." It is not a matter of lost time and earnings; rather, it is a matter of lost earning capacity. "
"What exactly is lost earning capacity?" you may wonder. "I was under the impression that I could only collect for my lost income." "In many cases, you may claim lost income even if you haven't lost a single penny," says the IRS. "However, in certain cases, you can't claim lost income at all." For example, if your income is paid because you have chosen to apply for sick leave that is due to you, or because you have opted to take advantage of an accident and health policy that is available to you, or because of any other arrangement, your salary will be paid.
In the majority of cases, even if you were paid while out of work, you should still be eligible for the money that is frequently referred to as Lost Wages. Why? because it is your earning capacity that has been lost. Compensatory Damage is the term used to describe your diminished earning capacity. Don't allow Strong to take advantage of you and cheat you out of your compensatory damage. Even if you've earned money in another form, you're still eligible for the benefits described above. You can be sure that Strong will do all in his power to take advantage of you, particularly when it comes to receiving compensation for your lost earning capacity. He will test that approach out over the course of every settlement agreement in which he becomes engaged, and it is mind-boggling how frequently he gets away with it.
An unwary claimant is likely to make the following remark at that point: "Hey, it seems like I'm going to be compensated for my lost salary."
"You did get $200.00 a week from your accident and health insurance policy, didn't you?" says the speaker emphatically.
"Yeah, but my average weekly salary was $275.00 per week last year," says the author.
I. M. Strong says, flashing a well-practiced, appealing grin that fools you into thinking he's a fair insurance claim adjuster when, deep down, he knows he isn't! "We'll reimburse you for the $75.00 per week difference." "Let's see, you were out of commission for 5 weeks and unable to work." The sum of five $75.00 bills is $375.00. Don't be concerned, my buddy; I'll see to it that you get your $375.00. "
"Wow!" you exclaim, "that's fantastic!" you think. You're giddy with excitement as a result of this wonderful turn of events. But what you don't realize is that the $200.00 a week in benefits you're receiving from your accident and health insurance policy has absolutely nothing to do with your missed wages. Smart has successfully defrauded you of one thousand bucks. To summarize, And, even worse, the $275.00 a week in income you lost (for a total of $1,375.00) would have increased the value of your case by $4,000.00 to $5,000.00 in settlement funds if you had taken your case to a court of law.
Loss of income must be recorded. Request that the firm for which you work write a letter on their official stationery stating your gross wage income as well as the number of days you were absent from work.
GROSS PAY VS. NET PAY: You should be compensated for the "gross" wages that you have forfeited, not the "net."
If you are totally disabled or partially disabled (as indicated in your doctor's Final Medical Report), you should deduct your gross weekly income--even if you were not paid--for each week of total disability. If you are partially disabled, you should deduct your gross weekly income. In that Final Medical Report, your doctor declares that you have a week of Partial Disability. You have the right to claim a considerable part of your income during that week, even though you did not lose any income.
Because the five reasons that follow add credibility to your assertion. Prepare to speak with Smart about and, when feasible, demonstrate the following:
If your job requires a significant amount of physical labor and/or lifting.(2) If you were unable to use any of your vacation or sick leave.(3) If there was a possibility of losing money you may have made in the future--either via your firm or through other sources of revenue you have bubbling and boiling on the side. In the event that you were forced to forego any incentives, (3) If you did not take advantage of an opportunity that could have led to a better job,
If any of the five things listed above are correct, then your claim is worth extra money.
The Essential Medical Research Report According to the Granite Mountain Insurance Company and its adjuster, I. M. Strong, the longer your healing time, the greater your "pain and suffering," and, as a result, the higher the settlement value of your bodily injury claim is. Additionally, your chiropractor or attending physician must include this information in his or her final medical report. Tell him to provide you with an accurate time frame for when you will be able to resume your normal activities, such as golfing, hunting, fishing, and/or rocking and rolling with your girlfriends.
As long as you are experiencing issues, you should continue to visit your doctor on a regular basis, even if it is driving him insane! You should do this since the fact that your medical records reveal a visit to him four, eight, or twelve weeks after the accident demonstrates that your injury required ongoing treatment, resulting in your inability to work. Also, since if you contact your doctor and inform him that your pain, discomfort, stiffness, or immobility hasn't subsided, those persistent difficulties must be documented in the medical report he'll offer you once you've completed your treatment course. That's the one you'll pass over to Adjuster Smart when the two of you start talking about the Thanksgiving meal. Watch him grimace as he reads it, then pale as that smug smirk fades off his face as he finishes it. When you see him do it, you'll know you've "got him" on the case!
The only goal of this claim tip is to assist individuals in better understanding the motor vehicle accident claim procedure, which is described below. Dan Baldyga makes no express or implied representations or warranties, nor does he represent or warrant that he is performing any professional or legal service, nor does he represent or warrant that he is substituting for a lawyer, an insurance adjuster, a claims consultant, or the like. When professional assistance is required, it is the individual's responsibility to seek out and retain this assistance.
On the internet, at http://www.autoaccidentclaims.com/, or in your local bookshop, you may get Dan Badyga's newest book, Auto Accident Personal Injury Insurance Claim (How To Evaluate And Settle Your Loss).