Need proof of self employment income

by Sarah

I was injured in an auto accident the person who hit me was at fault, his insurance company wants proof of my income to be able to settle on a number... I have no documentation of my income as my business is brand new, what do I need to do to get proof of income??


Answer:

Hello Sarah,

Well, you have a difficult claim in your hands. We have written some webpages on the matter. Visit: http://www.auto-insurance-claim-advice.com/loss-of-business-income.html for more info.

In your case, you need to be able to show that you were actually making money. you can show receipts, contracts, tax forms, your income ledger. Basically, anything that you can show that you were making money.

This is very unfair (I know), as most small business do not keep that type of records when they are brand new. In addition, the fact that you did not make any money does not mean that you did not lose any money. The time spent dealing with an accident is time away from your business.

The problem here is that you have the burden of proving your loss (again unfair), the insurance company will make you show exactly how much you lost in your business. I hope this helps some,

Good Luck,