What is an independent compensation calculator?
We used to call them ready reckoners. You’d be amazed how many applications have this neat little online tool. They have to be customised according to context. Anybody who researches utility or financial services online has probably used one.
Here are some examples:
- Car insurance quotes comparison
- Salary or wage comparison
- Redundancy pay-off
- Holiday and hotel price comparisons
- Mortgage value comparisons
- Utility company price comparisons
Personal injury independent compensation calculator
This is the big one and the one we’re most interested in, because we specialise in it. On the Accident Advice Helpline site you’ll find two online tools. One is the 30-second test, which tells you if your injury claim could be valid, the second is our compensation calculator, which can give you an estimate of how much your claim could be worth.
How does an independent compensation calculator work?
Strictly speaking, an independent compensation calculator is one you’ll find on public service sites such as general advice sites or organisations whose business it is to offer general advice on a topic. Money and consumer comparison sites will often compare products across a range of companies. Each business will configure a compensation calculator to fit its needs. For example, a utility company may allow you to input your estimated annual energy consumption so you can work out how much it will cost you.
In our case, our compensation calculator compares your injuries against the actuarial rates currently in force for your class of injury. In other words, your injury has a standard value (give or take) and the calculator makes the estimate of what your injury might be worth on the basis of what has been awarded to other victims with similar injuries to yours.
How much will you get?
It’s important to remember that the initial compensation estimate can only be a rough guide. The injury element is only part of the claim. Your solicitor may feel that you have a strong case for loss of income, how long you are out of action, whether you make a full or partial recovery and for the extra expenses you’ve incurred as a result of an injury which was not your fault. The final compensation award will depend on the strength of your case and how well it is presented.
Your personal injury compensation claim
If you have been injured in an accident that was most definitely someone else’s fault, why not get in touch with us today to see if you have a valid claim? You’ll find most of the answers on our site, but if you want to talk to someone then call one our professional advisers on 0800 689 0500 from a landline or 0333 500 0993 from a mobile phone. Your call will be handled sympathetically and you can decide whether or not you want to start a claim.
Date Published: 17th September 2013