Personal injury compensation calculators have been around for quite a while but only recently have they started being used in Australia.
Law firms in the United Kingdom have used them for a while, and they have a reputation for being pretty accurate, but what about in Australia?
Firstly let’s look at how compensation is calculated
There is no one size fits all when it comes to personal injury compensation in Australia. The amount of money owed to a victim of a no-fault accident depends on the severity of their injuries and the State in which the incident took place.
Some of the main variables that personal injury lawyers consider when negotiating clients compensation claims include.
- Time off work and lost earnings
- Pain and suffering
- Future lost earnings
- Changes in your ability to work
- Care or support costs
- Adaptations to your home or motor vehicle
- Travel and accommodation expenses
Lost earnings along with pain and suffering are the greatest two monetary values that contribute to the final settlement. Claims for future lost income are practically unlimited, and it’s not uncommon they exceed one million dollars.
The traditional personal injury compensation process
When someone has been injured in a no-fault accident, once they have recovered and realise they’re eligible for compensation, their first thought will be how much can I claim?
The amount of personal injury compensation owed to plaintiffs varies depending on their claim type and their individual circumstances.
Anyone involved in a no-fault accident is usually entitled to some form of financial recompense. The first step for victims of no-fault accidents is to find out whether or not they can make a claim, and how much compensation they’re entitled to.
Any personal injury lawyer can make this determination for you.
When you call a lawyer, you will more than likely spend at least one hour on the phone followed by a no-obligation consultation at their office.
This can take hours if not days to get an appraisal and in some cases, you could be eligible for compensation, but it’s not financially viable pursuing it.
This is where compensation calculators come into play
After suffering an unwanted injury, even the most simple things in life can seem pretty frustrating. Getting an online appraisal with a calculator can save hours of your precious time and a trip to the firm’s office.
Is it a good idea to use a compensation payout calculator?
It’s fair to say at this moment in time claims calculators cannot be considered completely accurate. However, they are a great starting point to decide whether claiming is right for you or not.
Check out Australian Accident Helpline’s compensation payout calculator it’s 100% online, no obligation and it uses information from official figures so the estimates they return are realistic.
One thing they don’t consider though is lawyers legal fees which get deducted from compensation at settlement.
There is no way to find out for sure how much a lawyer is going to charge you. Lawyers usually work on set rates and charge by the hour so the longer your claim takes to settle, the more you will need to pay in costs.
It’s worth noting that the losing party usually pays most of your legal fees. When this is taken into account compensation calculators estimates can seem pretty accurate.
They also cant consider any psychological injuries suffered by a plaintiff or the level of pain they endured. It’s, for this reason, there is no one size fits all when it comes to compensation.
People are affected by accidents in many different ways. Something that could drastically impact a young persons future might not have the same effect on someone who’s considered elderly.
For this reason, you could win more or less than the compensation payout calculator estimated.
Benefits of using a compensation payout calculator
There are many positives of using compensation calculators that outweigh the negatives. Some of the best features/practicalities we listed below:
Quick and easy assessment
no need to speak with a lawyer
Regardless of whether an estimation given by a calculator is accurate or not, it will be a lawyer that negotiates your compensation. If they have experience in cases like yours you will receive every bit of compensation you deserve.
Contributed by correspondent.com.au