Serious Injuries
Funding
Paying your solicitor’s costs may sound complicated and confusing – but don’t be alarmed. We will explain it all to you so you can choose which method best suits your needs.
The most common types are as follows:
Legal Expense Insurance
This insurance is also known as “before the event insurance” as it is cover you bought before having your accident. This is insurance which is usually bolted on to your motor or household contents insurance policy. It is insurance which is specifically aimed at paying legal fees up to a certain amount (usually £50,000.00 or £100,000.00).
You should dig out all your insurance policies that were live at the time of your accident and send them to us so that we can speak to your insurer to find out whether the cover deals with the type of claim you want to make.
This insurance may also be attached to any union or professional memberships that you have as well as any credit cards that you hold. These should be checked as well just in case.
Conditional Fee Agreements
This is also known as a “no win no fee” agreement.
If you win your claim (ie. we recover compensation for you) you will be responsible for paying our costs, but the defendant’s insurance company will be required to pay those costs for you as part of the settlement. You will keep your compensation.
If you lose your claim (ie you recover no compensation) you may be asked to pay the defendant’s costs. To make sure you do not have to pay anything in this situation we will take out insurance at the start of the claim. This is known as “after the event” insurance. This will cover all the defendant’s costs up to a specified amount (usually £100,000.00)
Contact NewLaw
NewLaw Solicitors
tel: 0845 521 0945
fax: 0845 521 0946
info@new-law.co.uk
0845 521 0945
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NewLaw Briefing Papers
The Motor Insurance Regulation Bill - 3rd Update from NewLaw Solicitors.
Personal Injury Claims Management Regulation - An Update from NewLaw Solicitors
The Motor Insurance Regulation Bill - Briefing Paper from NewLaw Solicitors
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