Unfortunately, whether you are involved in a car accident or other personal injury case, the insurance company that represents the company that was at-fault will generally not pay for any financial losses you have incurred during your time away from work. In other words, lost wages will not be paid by the at-fault party until you have agreed to a final settlement and you have signed a release.
The release will terminate any right you have to additional damages in connection with the car accident or other accident. It is important to know that reaching a final settlement is not always as easy and quick as you would like it to be. If the issues are contested or if there is denial of liability, a lawsuit may be your next step. If a lawsuit is filed, this could prolong the process.
During this time, you could incur additional lost wages because your case will remain in the pending stage. If your case remains in the pending stage for a prolonged period of time and you are unable to work because of your injuries, it can lead to a significant amount of stress and despair because of your mounting medical bills and expanding financial obligations.
What Are My Income Options?
Before a recovery is made from the party who is responsible for your injury, you may look for additional means of income if you are no longer able to work because of the accident. Some options many people turn to when they are in need of financial income to pay for medical expenses and other financial responsibilities include the following:
- Money you put away for a rainy day or money from loved ones and/or friends
- Long-term or short-term disability insurance that you may have obtained through your employer or through your own purchase
- An accident policy or a disability policy that you may have obtained through your employer or through your own purchase
- Personal Injury Protection insurance that you have through your automotive policy
Did you know that if you are injured in a car accident in Minnesota that you could be entitled to certain medical benefits and wage loss benefits, regardless of who was responsible for the accident? These benefits you could be entitled to receive are known as “no-fault” benefits.
No-Fault Wage Loss
In Minnesota, all owners and drivers are required to have Minnesota No-Fault auto insurance. In addition, all cars or truck accidents in the state should be covered by the no-fault law. Under this law, certain out-of-pocket expenses will be paid regardless of who was found responsible for the accident. The provision under the No-Fault law will allow for up to $20,000 for wage losses.
Minnesota’s No-Fault benefits for income loss will provide compensation for up to 85 percent of the injured person’s current and future gross income. Although a person can be awarded up to $500 a week, everyone’s benefits will not be calculated in the same manner. The calculation can be more complex if the individual is self-employed or was unemployed at the time of the injury.
While you could be entitled to no-fault benefits after an accident, determining who was at fault in the accident is still important for a variety of reasons. No-fault insurance benefits will be tied to a specific dollar amount, and any extra compensation that you can obtain will come from the insurance company of the driver who caused the accident.
Challenge By The Insurance Company
As mentioned earlier, no-fault benefits can cover medical bills and loss wages that are related to the accident you were involved in. As a result, the insurance company could contest your injuries in the accident by attempting to prove that you had preexisting conditions or that the injuries you have were not caused by the accident. The insurance company could request you to have an Independent Medical Examination (IME) before moving forward with the case.
For some, lost wages can be easy to prove. However, for others it may be more complex. Wage loss will not come in a day. It is important to understand the process and understand how important it will be to have records of your wage history and records of how your income has been impacted.
At Swor & Gatto, we understand that the despair, suffering, and loss of wages can never be repaired. However, when you have a professional and experienced team on your side, you will be able to get the compensation you deserve. Contact us today for a free case evaluation. Call us at 651-454-3600 .