Compensation Payout Guide
Compensation claims can get tricky, which is why you would require a compensation payout guide. A compensation payout guide explains people on how to calculate the compensation payout. It also enables them to attain the maximum compensation they deserve.
What is the average payout for compensation?
The average payout depends on the type of compensation claim. If you get injured at your workplace then according to the Australian worker’s compensation statistics report of 2018-2019, the payout is different based on industries. Accommodation and Food services industry has the lowest average payout whereas Mining industry gives the highest average payout. These average payouts are usually in the range of 6,000 AUD to 28,000 AUD. If you are dealing with medical negligence, then the average payout in such cases is $650,000. Whereas for car accidents, the average payout is around $150,000. Though these amounts seem reasonable, not everyone can get this compensation payout. Initially, the employer or the insurance company tries to settle their claims by giving them smaller payouts. Even beginning to negotiate would enable the insurance companies to increase their payouts by a considerable margin.
How are the compensation settlements determined?
When you look at a compensation payout guide, you can see that various factors go into calculating a compensation payout. The first step is to consult a doctor and get a clear idea about the injuries’ seriousness. Even if it sounds expensive, you can add these medical expenses in your compensation claim. Next thing to look at is the loss of income due to the injury. If a doctor advises you to be on bed rest for a month because of the injury, then you can add a month’s wage to your claim. Apart from this, if the injury impairs your future earning potential, you can also add this to your compensation. For example, if you earned $2,000 a week before your injury but only $1,000 after the injury. Then you are entitled to receive an amount of $1,000 multiplied by the number of weeks left until you retire. There are also other expenses that you can claim, such as travel expenses, repair costs, loss of company benefits, etc.
How do I get the most out of my compensation payout?
As stated earlier, an employer or the insurance company will always try to get away by paying the least possible compensation. In this case, you would have to know how to file a strong claim to get the maximum compensation that you deserve. Even with a compensation payout guide, most people find it challenging to go through the legal procedures and hence end up hiring a worker’s compensation lawyer, TPD lawyer, or a personal injury lawyer. It is fine if you hire a good lawyer, but most lawyers charge you an advance even before filing a claim, and you would have to wait for two years to get your compensation claim settled. If this period seems too long then, Schreuders can help you.
Schreuders is an Australian law firm where you can hire the best compensation lawyers. With our compensation payout guide’s help, you can determine the maximum amount of compensation that you can get and our lawyers will help you receive it. Our lawyers take only 3 to 6 months to settle a compensation claim which is much better than the industry average of 2 years. Furthermore, we have a strict no win, no fee lawyer’s policy. If our lawyers can’t help you get justice, we don’t charge you a dollar. We offer free initial consultations where our team of lawyers would look into your case to see if a strong claim can be filed. We also have a diverse team that can provide you with personalised legal services. Apart from workers compensation lawyers, we also have medical negligence lawyers, car accident lawyers, etc. We operate in all major cities of Australia such as Sydney, Melbourne, Brisbane, Canberra, Perth, Adelaide, etc.