What Is No Win No Fee Accident Compensation?

Being a driver on today’s roads can be a hazardous undertaking that puts you and your car at risk. It’s like amateur night at Nascar. Sooner or later, there is going to be a wreck and it could be you getting hurt. Through someone else’s negligence, you might get a serious injury that could stay with you for years to come. You could be looking at a lot of medical bills that are difficult to pay and. The other driver may even claim that it is your fault. Sometimes the only way to settle it is through the courts. Few people enjoy getting involved in a lawsuit but sometimes it is the only option for getting any sort of compensation for the accident. If you have been involved in an accident and you want to seek compensation, you should seek the aid of a lawyer. The bad news is that lawyers are expensive. What if you have been injured but you can’t afford a lawyer’s hefty fees? What do you do? The answer is you can find a lawyer who will file a no win no fee accident claim.

What is a no win no fee accident claim? It is an agreement that your lawyer will only get paid if you win your claim. If you lose, the lawyer does not get paid and you are not out any money for trying. It is a great system for people who cannot normally afford a lawyer. So why would you file a no win no fee claim and how does it work? Check out the information below to find out all about it.

How No Win No Fee Accident Compensation Works

Let’s say that you get into an accident. You might sustain injuries immediately or they might not appear for many weeks or even a few years. Even if you have comprehensive auto insurance that covers injury, you could still end up with some serious medical bills. To help you pay for them, you can decide to file an accident claim and sue for damages.

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There are many lawyers out there that are willing to operate with a no win no fee compensation claim. Even though you are not paying your lawyer out of your pocket, they are not really going to be working for free. Nor will they take a chunk of your compensation if you win, leaving you with less than you had hoped for or needed. Instead, if you win your case your lawyer’s fee actually comes from payouts by your opponent’s insurance company. If you happen to lose then your lawyer will take out what is referred to as ‘after-the-event’ insurance which will also cover their fee. So this means whether you win or lose your case, your lawyer will still get paid. The only thing that you will be at risk for is whether you get your compensation or not.

Another point about no win no fee compensation is whether you will have to pay your opponent’s legal fees if you lose. Rest assured, you won’t be out of pocket any money for that, either. If you take out ‘after-the-event’ insurance, not only will it pay your lawyer’s fees if you lose, it will also cover the cost of your opponent’s lawyer. Not only that but all those extras such as court fees and report fees will all be covered under this type of insurance. Without this type of insurance, you will be liable for all costs if you lose and the end total can be quite expensive. With ‘after-the-even’ insurance, you will walk away without paying a dime.

The best thing about a no win no fee compensation is that if you do win any compensation, it is all yours. The lawyer that you hire will not take his cut from it. For example, in a normal case, any amount that you win will be used to pay your lawyer as well as any court fees. A lawyer will charge what is called a success fee which can be up to 40% of the total amount awarded. This means that you will be taking home just over half of what you win.

With lawyer’s fees being practically free, people can make claims that they normally wouldn’t be able to financially afford. However, there are a few things you need to know before running out to make your first claim. This isn’t easy money. If you should lose the case, and your opponent has a similar claim with their lawyer, you will have to pay your opponent’s lawyer fees. The claiming process is not easy, either. It can be a long, drawn-out procedure. There are detailed medical examinations that you will be subject to. The court will require that a doctor examine your injuries to determine the extent of them and if they originated from an auto accident. So even if you feel that you have a good case, it may be some time before you see any compensation.