How is My Personal Injury Claim Valued?

One of the main reasons that people bring a claim for personal injury after an accident is to obtain compensation from the at-fault party as recompense for the injuries sustained. In order to get to the stage of accurately valuing your claim you will need to obtain medical records and be examined by at least one medicolegal expert. A medicolegal expert is a medical professional who will examine you and write a report addressed to the Court outlining your injuries, any treatment recommended and when they believe your injuries will recover.

This can feel like a long and invasive process. However, once these steps are completed your claim should be in a position where it can be valued. The big question for many clients is this: how much is my claim worth?

Main tool for valuing injuries

In most personal injury cases there are three main components to be considered:

1. The type of injury you sustained – is it whiplash, a fractured or broken bone, scarring, burns or psychological injury?
2. The severity of your injury – did you need surgery, did you take any time off work, was additional treatment needed, when did your injury start to improve, etc.
3. The prognosis period – the actual or expected recovery period for each injury

The main guidelines which will help your Solicitor value your claim are the Judicial College Guidelines. These provide approximate brackets for compensation for injuries suffered based on the components above. These brackets are quite wide to account for a number of different factors. To refine any valuation further, your Solicitor will likely look at similar cases which have already been heard by Courts in previous years, adjusted for inflation.

Valuation is not an exact science

However, valuing claims is a subjective process depending on the view the valuer takes. Each case and the facts are uniquely different and therefore providing more accurate valuations take practice and legal knowledge. Even then, the Court or a Defendant could believe your claim is worth more or less than your Solicitor’s valuation.

When entering into a personal injury claim you may already have a sum of compensation in mind that you believe would accurately reflect the injuries sustained. This could be based on discussions with people who have previously made personal injury claims, consulting AI tools or reading about big compensation cases online. However, it is important to be aware that a lot of the big compensation claims online are in relation to catastrophic injuries, with much of the claim being made up of future financial losses. For the majority of cases, these cases are not comparable or reflective of compensation that you may receive.

While these sources can be useful tools for very general valuations, they cannot provide accurate reflections of what your injuries will be valued. If you are ever unsure about the valuation provided, ask for further clarification on how the figure was reached.

Additional financial losses

You may have had financial losses as a result of the accident. Some examples of losses could be as follows:

• Loss of Earnings
• Care and Assistance
• Medication costs
• Travel
• Treatment costs

Not all of the losses are recoverable in each case and will be evaluated on a case by case basis. However, if you have suffered financial loss, this can only be recovered with evidence in support. This could be bank statements, receipts or payslips. If you do suffer a financial loss as a result of the accident, make sure to keep a record of each loss and evidence of the loss from the outset. This will make it easier to claim when your case is ready to settle.

You may also have future needs which will require financial consideration. Once your medical evidence has been obtained your Solicitor will be able to advise you of the losses likely to be recoverable in addition to your personal injury compensation.

Settling your claim

When it comes to settling your claim, your Solicitor is there to provide you with advice based on previous experience and to act as an intermediary between you and the at fault party. However, ultimately, it is your claim to decide to settle and for how much.

Your solicitor, when considering any offers will always look to act in your best interests. There are times when we cannot look solely at the valuation and whether the offer falls within this bracket and will consider any risks or uncertainties within the claim. Considering offers is a fine balancing act between obtaining the maximum compensation for you and protecting you from any adverse consequences in proceeding with your claim to trial.

Conclusion

Valuing personal injury claims has its core base in guidelines and case law. However, a level of knowledge is required to accurately value your claim based on its specific facts. This is best placed with your Solicitor who has knowledge of the facts of your claim rather than relying on AI or dissimilar claims.

We look to act in your best interests at every stage and want to ensure that you are adequately compensated for the injuries you have sustained. These valuations and knowledge of the case are vital in ensuring that your case is properly managed and a satisfactory outcome is achieved.

There are many factors to consider when settling a personal injury claim. If you have suffered an injury it is advisable to discuss your claim with a qualified Personal Injury Solicitor from the outset, who will be able to guide you through the process and information you need. To speak to one of our legal experts, call 0330 822 3451 or request a callback.