If you have been injured in an accident and you are thinking about making a claim, then the most important question you have will probably be about claim value, or more specifically, how much financial compensation you can claim for your accident.
The truth is that without knowing the nuances of your case, we cannot provide to you an estimate, although you can get one quickly by calling an accident advice helpline. Helplines are operated by law firms that specialise in compensation for accidents, and you can speak with a highly trained claims advisor, to get your questions answered.
However, while we cannot provide an estimated payout right here, right now, we can detail how compensation amounts are determined, to give you an idea.
How Compensation Amounts are Determined
When determining a fair level of compensation for their client, a solicitor looks at 3 things:
- The nature of your injuries;
- The extent of those injuries;
- How those injuries have and will affect your life.
Of course, the more severe these factors are, the more you can claim. However, the acceleration of any pre-existing medical conditions will also be considered, as too will any mental or psychological issues you are experiencing. So, for example, if you have suffered from insomnia since your accident, or you have become anxious, then you can also make a claim for these, and doing so will likely increase the compensation you receive.
The three factors above must be determined by a medical practitioner, though, so you will need to attend a medical examination as part of the claims process. Examinations are performed by people who specialise in your kind of injuries. The examination will be set up by your solicitor, and from this, a new medical report will be created. This will detail the full extent of your injuries, a recovery period, and your prognosis for the future. Your solicitor will then use this to determine a fair and proportionate settlement demand.
Compensation for Financial Losses (Special Damages)
Another thing to bear in mind is that in addition to making a claim for your injuries, you can also make a claim for any financial losses you have sustained because of your accident. So, you can claim back lost income and relevant out of pocket expenses. This compensation is called ‘special damages’. To determine what special damages you can claim, you should speak with a lawyer, who will calculate the amount for you. In most claims, special damages will make up around 25-30 per cent of the claim value. So, if you have suffered financially because of your accident, rest assured that you will be able to recover your losses.