No Win No Fee

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When the unthinkable happens and you are injured in an accident which is not your fault, then what is the next step? Most people will then go for a solicitor specialized in Personal Injury Claims. The next question to ask is whether that specialized solicitor in Personal Injury Claims should be a No Win No Fee one?

What is No Win No Fee?

Simply it means that it is an agreement that you pay nothing to your specialized solicitor in Personal Injury Claims unless your claim is won. If you lose then you pay nothing. In many cases even when you win your fees and costs may be taken care of by the losing side. The advantages are that pressure is put on the specialized no win no fee solicitor in Personal Injury Claims to win as if he does not then he will be out of pocket. At the beginning of its introduction, it was considered to be a positive move for everyone as it can bring justice and compensation for personal injury within the reach of everyone and not just those who have deep pockets.

Are all Personal Injury Claims covered by a No Win No Fee Agreements?

Most injuries resulting from road traffic accidents, involving cars, Lorries, bikes pedestrians etc. slips and falls, work injuries and accidents are normally considered for this product. However, it is most unusual for Medical negligence cases to be included as this is due to the heavy costs of taking on such a case.

What are the disadvantages of such an agreement?

In filing a personal injury claim, it can be relatively easy to obtain free personal injury solicitors’ advice as most solicitors offer the initial consultation free of charge, but sometimes, personal injury solicitors are reluctant to take the more difficult cases using this kind of agreements because of the possibility them failing in the case and consequently of them not being paid. It should be considered in these circumstances that you may have to underwrite the personal injury solicitor’s costs unless you take out suitable insurance to cover the risk of the opponent winning.

It should be seriously emphasized that it is absolutely crucial for you to understand everything you can about solicitors’ fees and other costs involved in an eventual person injury claim. Under these kinds of agreements for personal injury claims, you maybe liable for the opponent’s costs if the claim, in a worst-case scenario, is lost. To cover the other side’s costs, it is essential that you take an insurance policy, to cover your situation in a worst-case scenario. Such insurance is often called as “after the event” insurance. Most personal injury solicitors will recommend that it is put in place even before a claim starts. However, not everyone has the financial resources and can take out “after the event” insurance. Insurance companies will evaluate the risk of winning and may not be so willing to insure claimants especially if chances of winning the personal injury claim are low.

August 1, 2017 · Tim Kevan · Comments Closed
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