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How do you determine your lost wages after a crash?

When you are involved in a car crash, one of the things that you may immediately think about is the amount of money you'll lose by being unable to work. Lost wages can impact an individual or family seriously, so it's important to calculate what you're losing and to make a claim for that income as soon as possible.

An appropriate settlement offer or award should always consider your lost wages and compensate you for them. Before you can understand what a fair amount is, you need to calculate what you've lost.

If you are an hourly employee, you need to take the wage you make per hour and multiple it by the number of hours you missed because of your accident. If you miss enough work that you can't be sure how many hours you would have missed, then you may need to take an average of the hours worked over a period of time to estimate the number of hours missed. Once you have the wage and hours missed, multiply them together for your lost wage total.

If you receive an annual salary, it's a little easier to see how much you need. You'll need to divide your yearly salary by 2,080. This is the total number of hours you can work in a year if you work 40-hour weeks. Then, you can calculate the total amount you missed day-by-day. If you usually work overtime or missed promotion opportunities as a result of this crash, you may want to include that information to increase the settlement or award you receive.

Source: FindLaw, "How to Calculate Lost Wages in a Car Accident Claim," accessed June 07, 2017

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