If you ever find yourself in the unfortunate position of having an accident, you could be left with life-changing impacts. Whatever the circumstances, if you’re involved in an accident or discrepancy that isn’t your fault you could be entitled to money to help you cover any expenses you may incur as a result of this.
In this article, we discuss everything you need to know about how to go about getting compensation.
What Is Compensation?
Compensation is the money you are entitled to as the result of something that has impacted your life considerably. This applies to anyone who isn’t at fault. This could be work-related, injury-related, or anything in between.
Injury compensation generally considers three separate things:
- The scale of injury caused
- How much suffering has been endured
- How the injury(s) may impact your life in the future
For example, if you were involved in a car accident and sustained severe injuries, not only would you be in a great deal of pain for some time, but you may also be required to take time off work while you recuperate. Even after your injuries have healed, you may then require weekly or monthly physio appointments to help strengthen your injury area until your health is back to normal. Depending on the nature of the injury, in some cases, you could be left with side effects or pain that remains long after your healing process. All of the above are reasons you would be entitled to compensation.
Compensation can vary in amount, depending on the case. Using a claims calculator can help you to discover a rough estimate of what you could be awarded.
Types Of Compensation
As well as payouts for different types of personal injuries, compensation also covers other areas such as employee compensation. This supports your rights as a worker and ensures you get what you’re owed from your workplace. These are typically split into two separate categories: direct and indirect.
Direct compensation tends to be finance-focused. Here are a few examples of direct employee compensation:
Indirect compensation is usually surrounding your work benefits. Here are a few examples of indirect employee compensation:
- Stock options
- Holiday pay
- Pension schemes
How To Make A Claim
If you feel you’re owed compensation for something which has negatively impacted your life, you can seek legal advice. A claims solicitor will be able to listen to your story, pulling together the facts to figure out whether you could make a claim. Many solicitors offer a ‘no win, no fee’ arrangement, whereby if it turns out you don’t have sufficient grounds to make a claim, you can rest easy knowing you won’t be charged for their time.
SUBSCRIBE FOR MORE! HERE'S WHY:
1. You get 7 free books
2. You get the best money & productivity articles
3. You get the latest updates - all in one email per week