How to Estimate Potential Compensation Before Making a Claim

The majority of us will have the same question in our mind when injured due to an accident and that is, what will be the claim value?

That’s a fair question to ask, since expenses, missed work and recovery period costs add up fast. The straight answer is no one can quote a number without all the facts, but you can develop a reasonable approximation.

That estimate will help you establish expectation, identify missing information in your evidence and prepare for any conversation. Here you will learn how to give a rough estimate, what to look for in terms of salary, what could influence you and when to ask a professional for advice.

How to Estimate Potential Compensation

A good estimate is surely “NOT” a guess. There are various free injury compensation calculator tools to help you estimate the potential of your injury claim. Here are five simple steps you need to follow and you will have a range to defend.

Start with the Injury

Record the diagnosis, symptoms and recovery period. Your level of recovery shouldn’t determine how much money you receive since it should be determined by your medical records.

Find the Guideline Bracket

The Judicial College Guidelines are used as a guide by solicitors and courts in England and Wales. Compare the injury to its brackets to get an idea of a realistic range.

Add Your Financial Losses

Sum up all lost income, transport expenses, medications and additional charges to date. Keep all payslips and receipts, claims are based on proof not guess-work.

Consider Future Costs

Consider your treatment that you need to continue, loss of earning potential or time away in the future. They are difficult to value and should still be listed and flagged as needing professional valuation.

Adjust for Fault

If there was any contribution on your part to the accident, then the compensation may be decreased, this is referred to as contributory negligence. Honesty is important here, since the other party will bring it up anyways.

Types of Compensation You Can Include in Your Estimate

Compensation does not consist of only one monetary amount. It consists of several categories and by knowing these categories, you can ensure that you do not forget any of them.

General Damages

This includes any pain, suffering and loss of amenity, which is a term used to describe the impact of the injury on your daily life and activities that you enjoy. It is evaluated with the guideline brackets, instead of receipts.

Past Financial Losses

These are also known as special damages, they are monetary compensation for amounts already incurred. This can be lost income, transportation costs to doctor’s appointments, prescription costs and the care received from family members.

Future Financial Losses

In case your injuries persist, you might also be able to claim for any expenses for future treatment or even any loss of earning capability. Sums calculated in court are done so using the Ogden Tables.

Medical and Rehabilitation Costs

Personal therapy, physiotherapy, counseling and devices which will aid mobility can be claimed back when reasonably required. Retain invoices and seek legal advice before spending large sums of money on anything.

Lost Benefits and Pension

Don’t forget lost overtime, bonuses and pension contributions. These are the things that can easily be forgotten but can be a true category of loss.

What Can Make Your Compensation Estimate Inaccurate?

Even the most well-thought out estimates are subject to wobble. Below are the four common reasons your final number could be different than your scrutinised estimate.

Disputed Liability

Completely denying fault may extend the claims process, and can mean a reduction or a denial of claims entirely. There is no one-size-fits-all answer to that sort of uncertainty.

Changing Medical Outlook

A recovery is not always a straightforward process. An injury that seems minor may go on for a long time, or get better sooner than thought, so you may want to update your estimate as the prognosis changes.

Missing or Weak Evidence

Loses may not be substantiated due to gaps in records, a lack of receipt or documentation, or the absence of a medical report. Generally expectations are based upon evidence and when an estimate is based around assumptions, it can fall apart.

Deductions and Costs

Your compensation amount may be reduced due to deductions. The success fee may be deducted from the amount of damage, while some of your benefits are recovered by the Compensation Recovery Unit.

When Should You Seek Legal Advice 

Your Injuries are Serious or Long-term

Future requirements of care, lower earning potential, and permanent injuries need appropriate documentation and assessment by an expert. It is difficult to evaluate such losses just through a near estimate.

Liability is Disputed

Expect that the other party will oppose you in the event they deny the blame or argue that you share equal blame. With legal advice, you will be able to make a decision on the strength of your case.

An Offer or Deadline Arrives

Settlement is normally final and there is a three year period to pursue claims for personal injury cases in England and Wales. The solicitor examines the settlement and the deadline.

Conclusion

Estimating compensation is a matter of being honest, showing evidence and being patient. Take the numbers as a guideline, not a commitment and consult a competent solicitor before taking action that cannot be reversed.