When you are unable to generate income due to an accident caused by another person, it falls under loss of work capacity. The liable party compensates the lost income you would have earned without the accident. Compensation for lost income goes beyond just net wages per month, including vacation pay, salary increases, company car and other benefits.
Free consultationLoss of earning power is an important part of personal injury. It refers to the income you can no longer earn due to an accident. Below you can read what loss of earning capacity is, how it is calculated, what is required to do so, and what damages are compensated.
Loss of earning capacity means that an accident allows you to earn less than you did before the accident. This may be because you can work less temporarily or permanently, or because you have to find another job with a lower salary. The difference between what you used to earn and what you can earn now is considered loss of earning capacity.
When calculating loss of earning capacity, they look at your situation before and after the accident:
With employees, income before the accident is usually easy to track, for example through pay stubs. For business owners, it can be more difficult because income varies from year to year or because the business had just started.
To calculate loss of earning power, you need the following data:
If there is discussion about the amount of damages, an independent arithmetician can be called in.
Compensable damages include:
No tax is levied on the amount you receive as compensation.
Calculating loss of earning capacity can be complicated, especially for business owners or if there is a dispute with the other party. A personal injury lawyer can help you with this. They are experienced in gathering evidence and calculating damages. If there is a conflict, an independent expert can be called in.
Loss of earning capacity can have a major impact on your financial situation. Therefore, it is important to have this properly calculated and make sure you get the compensation you are entitled to.
As an accident victim, not only do you have a lot of worries, but you also often incur additional costs immediately; this does not help you focus on your recovery. Fortunately, the legislature in the Netherlands has arranged that engaging the services of a personal injury lawyer in such cases does not cost the victim anything. The costs – like the rest of the compensation – must be paid by the liable party. So, for example, you do not have to claim your legal expenses insurance, but may go directly to a specialized personal injury lawyer. No matter how big or small the damage seems to be.
We do not use the popular “no cure, no pay” system, because in that case you as a victim still have to hand over a percentage of your compensation; that is not necessary at all. We send our bill directly to the other party so that you do not have to pay anything.
Get in touchYou are entitled to compensation for damages resulting from a traffic accident. We will help you recover these damages. Contact us today. We will discuss what we believe is the best strategy to get fair compensation as quickly as possible. This is as follows.
A good understanding of the facts is necessary to hold the right party liable.
With a legally sound story, we hold the person(s) responsible liable for your damages.
Then we can work with you to estimate the damages and make sure you get fair compensation.
Would you like to know if we can help you recover your personal injury? Then contact us using the details below, or fill out the comment form, and we'll make sure someone from us gets back to you within 24 hours.
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