Is Your Monthly Income Protected?

4. If an accident puts you out of work you could lose your monthly income unless you have this optional coverage on your policy.

Wage loss coverage is an option you can put on your insurance policy that will protect you in the event an accident injury prevents you from working. If added onto your policy then your insurance company is required, by law, to pay 80% of your gross income when you cannot return to your job from injuries sustained in the accident.

As we mentioned yesterday, the state minimum coverage doesn't save you anything in the long run and the same is true with wage loss coverage. The least amount of wage loss you can select is 1,000/5,000. This means, for instance, if you are out of work for 5 months, your insurance company will pay up to $1,000 per month for those 5 months. If you are out work for longer than 5 months but only have the minimum selected, you could lose your monthly income until you return to work.

Another way to protect you and your family after an accident is by calling The Pisanchyn Law Firm as soon as you are injured so our experienced injury attorneys can help you receive the full compensation you deserve.