When it comes to settling your claim for personal injury compensation, there are always two pieces of vital advice that we give to people:
1: Dealing with the insurers directly is dangerous and you risk under settling your claim.
2: The first offer that the insurers make will almost certainly be less than what you are owed.
Insurers are, ultimately, private profit making organisations whose duty is to their shareholders. To keep their shareholders happy, they must keep their profit margins high to allow their shareholders to get a good return on their investment. To maintain high profit margins, they have to keep costs down. And the way they keep costs down is by keeping payout amounts to a minimum.
It’s straightforward and rather obvious deductive logic.
Whilst we have been telling people for years to take our advice and get a lawyer, people still deal with them directly thinking they are making a sensible decision. But the amount of times we have had phone calls from people telling us they have already settled but they are still suffering and need help financially for treatment and time off work and want to make a further claim is unbelievable.
Unfortunately, once the claim is settled, it’s settled! You can’t go back and ask for more if you have agreed an amount in full and final settlement of your claim.
Evidence – Why to use a lawyer!
Well, here is some hard evidence from the Law Society that shows why you should instruct a lawyer and make a claim for personal injury compensation the proper way:
“On average, people get two – three times more if they consult a solicitor, according to the Financial Services Authority.” (source)
The above is a quotation from the Law Society website, but the key thing is the source of the information – the Financial Services Authority (FSA). The FSA regulate the insurance industry. That means that the insurers own regulatory authority confirm that settling directly could lead to you under settling your claim for compensation by up to three times!
So if you settle directly with the insurers for say £1,500, which is a common amount, getting a lawyer to represent you for the case and make the claim the proper way could mean you get up to £4,500 instead! That’s a huge increase of £3,000! Or to put it in a better way – under settling your claim could cost you £3,000! That’s a huge amount of money to lose, especially in such dark economic times.
That amount of money is half a deposit for a mortgage; or the asking price of a decent used car; more than enough for a quality holiday or even splashing out on a cruise. Or perhaps more importantly, it’s a good amount to help wipe off some building debts you might have…
Three million people each year are injured in accidents, and the insurers stand to save themselves an absolute bomb by trying to settle the claim directly with the victims. They say you should “cut out the middleman solicitor” and deal direct for a “better deal” – but the figures speak for themselves; the insurers are mugging you!
So to settle your claim for its true value and enjoy a payout that’s truly reflective of your injuries, call our free claims helpline on 0800 634 75 75 today. Don’t let the insurers reel you in with their common catchphrases like “this offer is the maximum you can get for that injury” or “we’ll give you more if you deal with us directly” – listen to the expert injury lawyers and look at the facts.
Don’t get mugged by the insurers!
