Compensation Average Payout
If you are filing a compensation claim, you must be aware of the average compensation payout for your claim. It will give you an estimate of the amount of money that you can receive as a compensation payout. It is essential because many times, insurers of the person or organisation responsible for your injury will try to get away by paying the least compensation possible. Hence, if you are not aware of your claim’s average compensation payout, you might not receive the full compensation amount you are entitled to. Average compensation payout also varies based on the type of compensation claim. In a worker’s compensation claim, a person can get around $20,000 as compensation depending on the industry. Whereas in a medical negligence claim, the compensation amount can even go up to a million dollars.
How are compensation payouts calculated?
Compensation payouts depend on the type of compensation claim. Still, they are primarily based on three factors: the severity of your injury, recovery time, and the impact on your earning potential. The average compensation payout for a brain injury will be greater than the average payout for a hand injury like a fracture or dislocations. If your injury has a more extended recovery period, you would be compensated for the loss of income during this period. Apart from this, any medical expense that you might incur will also be covered by the compensation payout. If you had been in a car accident, other factors like repair costs are also considered.
How to make a compensation claim?
To make a compensation claim, you would first have to inform your insurance company. It is essential because if your insurance company is not informed soon, your claim can get rejected. The next step is to get a “certificate of capacity” from your doctor. It proves that you had an injury. Then, you would also have to do some research of your own to know the average compensation payout for your claim. Finally, you can fill the compensation claim form and submit it along with the certificate of capacity.
Though the steps might look simple, it can be a daunting task to do it on your own. As mentioned before, insurance companies try to find a way to get away by offering the least compensation possible. In such cases, it can become stressful. Hence, it is always a good idea to hire a compensation lawyer.
If you are wondering where you can find compensation lawyers who can understand you, Schreuders is here to help. Schreuders is an Australian law firm where you can find the best compensation lawyers. We have over 25 years of experience and a 95% success rate. What sets us apart from other law firms is that we take time to understand you and your journey. It enables us to offer you a personalised legal service that can get you the best result possible. Our lawyers are also aware of the average compensation payout for any claimand can hence help you get the maximum compensation you are entitled to.We also have a “no win, no fee” lawyer’s policy. If our lawyers do not help you get justice, we won’t charge you a single dollar.
We have a team of lawyers who can assist you with any compensation claim. If you are injured in an accident, you can hire a car accident lawyer, personal injury lawyer or a TPD lawyer. We also have worker’s compensation lawyers, insurance claims lawyers and medical negligence lawyers. Our lawyers will take 3 to 6 months to settle a compensation claim,whereas the industry average is two years. We operate in all major cities of Australia such as Sydney, Melbourne, Brisbane, Canberra, Perth, Adelaide, etc.