As the name suggests, the No Win No Fee accident compensation is an agreement under which the person lodging an accident case is required to pay his/her lawyer fees only if the person wins the case and receives compensation for it. If the person loses, he will not have to pay the lawyer any money even for trying to fight the case. This contract is very helpful for people who are trying cannot afford to pay the lawyer’s fees. Read on to find out more.
Why no win no fee compensation?
Once you have met with an accident, you will have to go through a lot of financial damages. This includes the damages caused to your vehicle, hospital bills and other additional expenses. Even if you have comprehensive auto insurance for your vehicle, it will cover only the expenditure required to repair or replace the vehicle. The auto insurer does not cover any other additional damages. These additional damages can be claimed by filing an accident claim and suing for damages.
How it works
The definition of this contract gives people the idea that the lawyer will not get any money for all the time and energy spent on the case if it is lost. However, this is not the case. If you win the case, the lawyer’s money is paid by your opponent’s insurance company. And if you lose, your lawyer will be paid from the ‘after the event’ insurance. This covers the expenses that occur after the course of the accident. This makes the lawyers fee risk free; i.e. the lawyer gets paid regardless of whether you win the case or not.
The only thing you are risking by filing an accident claim is whether you get the compensation or not. There will be no expenses required to do the same. Now the question that arises is whether you will be required to pay your opponents legal fees in case you lose the case. The best thing about taking the ‘after the event’ insurance is that it will cover the lawyer’s cost of your opponent also if you lose the case. It also covers other expenses like court fees, report fees and other fees.
As you may have already realized, you will be responsible for all the expenses to file an accident claim if you do not take the ‘after-the-event’ insurance. Contact your insurer and get it done today!Google+