What is the Value of your Claim?

When clients first approach The Injury Lawyers, one of the first questions they tend to ask is ‘what do you think my claim is worth?’  To answer this at such an early stage of their claim can be very difficult; however, we are often able to provide an approximate figure which their claim may centre around.

How is the value of your claim calculated?

The reasons why it is difficult to value a claim at these very early stages is that valuations of a claim are normally based on a medical report. These reports are the product of a medical examination which is arranged by your solicitor, and includes a consultant’s opinion on your injuries, as well as the effects your injury has had on all areas of your life. This medical report is gained in the later stages of your claim once fault has been admitted by the other side.

So – the medical report becomes the basis to value your claim for compensation for the injuries you suffered. However, in addition to this compensation you may also claim for the financial losses you have suffered as a result of your accident.  Examples of the more common types of loss are a loss of earnings, or claiming for treatment costs that have left you out of pocket.

A specialist personal injury lawyer will be able to advise you of the losses for which you can claim for, and will also utilise your medical report(s) in order to assess the true value of your claim.

How do you get the best settlement you can?

Instruct a specialist personal injury lawyer …

Do this as soon as possible after your claim whilst the events are fresh in your mind and of those who may have been a witness to your accident. Plus, a lot of CCTV footage is destroyed after a few weeks; so if you instruct a solicitor early enough, they can request that this footage be forwarded to them to help evidence your claim.

Do this directly with a lawyer, and not through a referral agency – an agency will simply sell your claim on. Referral fees for claims can be up to £800; so, if a law firm has already spent a lot of money on your claim, chances are they will work less on you case to save their profit margins from decreasing any more.

Avoid dealing with the defendant or their insurers directly

If the Defendant or their insurers approach you with an offer to settle, by accepting the offer you may be doing so on a full and final basis and drastically undervaluing your claim. It is always advisable to gain the advice of an independent personal injury lawyer from the outset.

At The Injury Lawyers, we give free claim assessments – so you have nothing to lose by giving us a call and getting some information.