No Win No Fee Claims – understanding what you pay
It has been estimated that over 2.5 million people suffer as the result of a personal injury accidents every year; however recent figures suggest that only 31% of these people actually claim for compensation.
Putting in a claim for compensation is a civil and legal right that is held by every member of the public. Sadly however since the abolishment of legal aid and the introduction of no win no fee claims (conditional fee agreements) the UK has been accused of being a compensation culture. Members of the public are being accused of taking advantage of the no win no fee agreement but how can this be true considering that only 31% of people have been claiming for compensation after accidents that have occurred due to no fault of their own. All no win no fee agreements have done is made people aware of their rights when it comes to putting in a claim for compensation after suffering an accident that has left them out of work with lost independence and lifestyle changes.
When personal injury accidents occur the fault may lie with another driver, a hospital, a public authority or an employer. Whoever is responsible for the fact that you are suffering needs to pay for their mistakes in the form of compensation but what exactly are you paying when it comes to claiming for compensation on a no win no fee claim? A no win no fee claim means that if you are successful in your compensation claim you keep 100% of the compensation that you are awarded with your solicitors fees being paid by the losing party’s insurance company; but what if the losing party is you? If you are unsuccessful in your compensation the winning party’s solicitor’s fees will be paid by your insurance. This insurance is known as after even insurance, which you are advised to take out before you being your case. You need to be aware that insurance company’s are only willing to grant this insurance to people who have a good likelihood of winning their no win no fee claim so if you are turned down for your compensation you should take it as a hint that your compensation claim will most likely fail meaning you should rethink about claiming.
If you are thinking about making a compensation claim based on a no win no fee agreement then it is important that you seek legal advice before taking any steps. A personal injury lawyer will be able to tell you whether your case is suitable for a no win no fee claim by telling you whether you have a good chance of winning. A good personal injury lawyer will also be able to explain the compensation process to you.
Personal injury law exists in order to compensate you for your injuries, any medical expenses that you have occurred and any loss of earning that you are suffering whilst you are out of work recovering. By claiming for compensation you could also be helping to prevent that accident happening to anyone else. For example if you are suffering from a work related accident your compensation claim could mean the introduction of new safety measures.
Tags: 5 million, conditional fee agreements, insurance, insurance company, legal aid, lifestyle changes, likelihood, no win no fee claim, personal injury accidents, solicitors |
