Finance Outkast

Financial Strategies from the Finance Outkast

Injured On the Job? How Pain and Suffering Compensation is Calculated

Injuries can cause pain for the rest of your life. Unfortunately, many of these injuries happen in the workplace, where your employer should have ensured your personal safety.

A person injured due to a mistake made by someone else should go about receiving legal advice.

The time taken off of work, costly medical bills and potential impact on your whole life is worth fighting for.

Personal injury compensation is there to help with any costs associated with the injury you received. At the very least it can help towards medical bills and rehabilitation but can also give you enough money to live for the rest of your life.

How do companies calculate whether someone’s pain is worth $1000 or $1,000,000?

There are many factors that are considered when deciding pain and suffering compensation. Here are a few of them.

Firstly, Medical Expenses

This is the most common claim and can cover any medical expenses related to the injury. This includes hospital stay, surgery, physiotherapy and movement accessories like a wheelchair.

It can also include both past and ongoing medical needs that have come about and found to be related to the injury.

Secondly, Lost Wages and Loss of Future Earnings

With an injury, it is common to have to take time off work to recover. If your employer doesn’t provide sick pay or your injury takes longer to recover then your standard sick pay length, you can claim for lost wages.

Another factor to consider is, will you be able to return to the job after injury? If you had a manual labor job, which you now can’t do, what are the cost implications of this? All future lost income is claimable and should be included in the compensation.

Thirdly, Property Involvement

Vehicles and property involved in the accident can also be a part of the compensation. Each item will be assessed separately for its worth.

Finally, Pain and Suffering Compensation

Pain and suffering compensation, to help you cope with the stress of the injury, can be included when calculating compensation.

Insurance companies use an automated formula to calculate the usual payout for your type of claim. The insurance company could list a rate per day of what your whole claim is worth, or calculate it by medical expenses, lost wages and pain and suffering. The average personal injury pay-out is $24,000, learn more here.

Ready to Make a Personal Injury Claim?

Contact your attorney immediately, even if you are still in the hospital. You will be given valuable advice on what to do and what not to do. When you are feeling better, your attorney will go through a list of questions to get all the required information. They will advise you on the correct amount of compensation you should settle for and be able to help with any queries about the process.

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