Traffic accident compensation calculator: why it's unreliable
Why online calculators are unreliable
While browsing the internet, we can find websites that calculate the amount that would be received as a result of a traffic accident.
When analyzing compensation awards, we must consider these valuations as approximate at best, if not inaccurate. These tools take into account several factors that must be analyzed to assess their accuracy in quantifying the amount to be received by the injured party.
How compensation is calculated: days off work and lasting effects
First, we will analyze the time off work between the date of the accident and the stabilization of the injuries suffered or their disappearance.
The number of days between the accident and the date on which the stabilization or remission of the injuries is assessed must be taken into account when determining whether they are days of incapacity or not. This distinction directly affects the amounts to be applied according to the applicable scale.
Once the compensation amount for the days elapsed has been calculated, it must be assessed whether there has been a full recovery from the injuries suffered, or if there are any remaining consequences that need to be evaluated, not by a calculator without professional experience in the matter, but by a specialist. This is where the specialization and the team of professionals surrounding the lawyer come into play, such as the medical expert and other professionals in the field.
The calculators available online leave the assessment of resulting long-term effects, or permanent injuries, to chance. These injuries are scored in points, and it is the responsibility of qualified professionals in the field to carry out this assessment.
Other compensable items: property, vehicle and lost profits
When discussing compensation for traffic accidents, we cannot ignore the fact that the financial redress to which the injured party is entitled is not limited solely to the period of sick leave, whether from work or not, or to the assessment of aesthetic damage and permanent injuries. Aspects such as lost earnings and expenses incurred as a result of the accident must also be considered.
Often, especially in the case of motorcyclists, damage is sustained to personal belongings such as helmets, jackets, trousers, footwear, and other items damaged as a result of the fall. All these personal items must be replaced with others of equal value to compensate for the loss. Although it may seem a minor detail, in many cases, we are talking about items of significant monetary value that must be considered in the compensation received. A pre-defined calculator cannot value these items; expert advice is required. It is a professional in the field who should advise on how to proceed so that the claim can be successfully resolved.
It is also very common for the injured party to have suffered other types of material losses, such as damage to the vehicle involved in the accident. This can range from a scooter, motorcycle, or bicycle to the car itself. In all these cases, the valuation of the vehicle requires professional advice. We have frequently seen insurance companies offer amounts significantly lower than the vehicle's market value. If these amounts are accepted by the injured parties, they will have suffered a financial loss that could not have been previously assessed by a calculator. Simply put, a calculator is not equipped to perform such a calculation.
This last point leads us to the analysis of lost profits. An element largely unknown to most of the general public.
In this respect, when illustrating this point, we should initially distinguish between the type of injured party involved. It's not the same to talk about someone with an employment contract as it is to talk about a self-employed worker. In the first case, their loss of earnings can generally be calculated by comparing the net amount they received in their monthly paycheck before the accident to the amount they receive afterward. Whereas in the second case, we would need to conduct a tax analysis of their profit and loss statement to accurately determine the amount of compensation they are entitled to.
We can clearly see that using a calculator is not valid when determining these losses. There must be a relationship between the injured party and the professional involved to determine the correct amount to be claimed.
Free consultation with a specialist lawyer
We will conclude by stating that visits to our office to discuss your situation are completely free, and therefore you should not leave the calculation of your compensation to a calculator or a machine. Do it with a lawyer specializing in traffic accidents.