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Calculating Motorcycle Accident Compensation Lump Sums

Compensation definition in dictionary
14th May 2014
In 2011, more than 5,240 motorcyclists were seriously injured in road collisions on Britain’s roads. It is has been estimated that a motorcyclist is forty times more likely than a car driver to be involved in a road accident and around one in five are likely suffer a major injury and a serious claim for motorbike personal injury compensation is evaluated as a ‘lump sum’ several factors are taken into consideration, including not only loss of income during the accident recovery period but also future work / income prospects as a result of any permanent incapacity sustained.

Calculating the value of a permanent loss of income and job prospects incurred is based on estimating the total predicted income a motorcyclist would have accrued over their working lifetime if they had not suffered a disabling injury in a motor bike accident. This amount is then compared to an estimate of projected earnings following the accident.

Included in the calculations are other variable items such as whether the motorcyclist will be able to fully resume their previous job or whether they will be able to find the same or similar position job with a different employer, if necessary.

In addition, the possibility of a reduction in the motorcyclist’s life expectancy will also have to be considered. Where life expectancy is expected to be shortened, a deduction of living expenses may be made for the number of ‘lost years’, which may be left only for the benefit of family dependants.

Further adjustments to calculations may also be made on the basis of other types of benefits received, but not necessarily payments from a personal accident insurance policy paid into by the claimant.

Despite the seemingly complicated calculations required in any one particular case, a verdict to determine the final compensation amount is also based from the perspective of previous, similar cases to reach a final figure.