LOST INCOME AUTO INSURANCE COVERAGE TO INCREASE
Until 2014, if you missed work because you were injured in a car accident, your No-Fault auto insurance paid lost wages up to a maximum of $250 per week. The law provides for lost salary, wages, tips, commissions, professional fees, and other types of earnings.
Our lawyers have worked on many MN car accident injury cases where that $250 per week in wage loss reimbursement was the difference between our client paying rent or being evicted. However, while we appreciate the benefit, we were often concerned that $250 per week does not come close to compensating most people for their lost wages after an auto accident. In reality, they and their families are still in a very difficult financial situation.
$500 PER WEEK LOST INCOME REIMBURSEMENT
Therefore, our car accident attorneys are grateful to the MN legislature for amending the No Fault law this year to increase the maximum weekly benefit to $500 for lost wages after a car accident. (The amendment goes into effect on January 1, 2015.)
The total cap on this benefit is still $20,000 unless you purchase stacking coverage, but the $500 per week will be a significant improvement for many people who find themselves in a temporarily precarious financial situation because they were injured in a car accident. It is also important to remember that this lost wages benefit is available regardless of fault (no-fault). In other words, you can receive this wage loss insurance benefit if you are injured in a car accident, even if the accident was your fault.
CAN’T WORK BECAUSE OF CAR ACCIDENT INJURY
If you have been injured and can’t work because of a car accident in MN, you are welcome to call us and speak with an experienced attorney about your situation. We will answer your questions about insurance coverage and lost income relating to your auto accident. A top lawyer will advise you on how to move forward. There is no charge or obligation for the initial consultation.