You’ve probably noticed that you cannot find a lawyer who is prepared to fund your claim on a 100% compensation basis. On top of that, many that you speak to want to charge you for insurance either upfront or at the end of the claim.
Sadly they cannot always tell you exactly how much this can be.
So if you’re in talks with a lawyer for a claim, read our advice below as we could save you from having to pay for any insurance whatsoever.
Why am I being charged now?
Don’t blame lawyers – blame the insurers and the government! They are the ones who changed the rules last year and stopped innocent victims from being able to recover all of their lawyer’s legal fees. In the past all reasonable fees were recoverable which is of course more than fair as it means the victim doesn’t lose out
But these changes are now costing the innocent victims a lot of money. Sadly there is very little we can to do get round the law.
But what we can do is offer you the best deal possible.
So what can I be charged?
Most lawyers will take 25% from you for their Success Fee. It’s capped by law at 25% which is why it is so common for lawyers to take the full amount which has kind of settled as a bit of a ‘market rate’ so to speak.
When it comes to the insurance, it can depend on many things:
- The risk of the case
- The type of the accident
- The insurer your solicitor uses
- How your solicitor wants you to fund it
Insurance for road accidents can be in the region of a few hundred pounds, whereas it can be in the thousands for medical negligence cases. Some law firms can give you a quote and some will just take an additional percentage (such as 10%) as a blanket cover for the insurance.
But we work differently – we simply do not charge you for the insurance because we don’t take it out in most cases; thus saving you money.
But does that mean I’m not covered?
It means you’re not covered by insurance, but we’ll let you in on a little secret – firstly, in most cases, the likelihood of needing the insurance is small. Secondly, we actually cover you and indemnify you like an insurer would. And because we’re a kind firm of lawyers, we don’t charge you for the cover either!
So you are covered AND you don’t have to pay out a hefty fee at the beginning or at the end for our cover.
Why do we do this? Are we mad!?
Nope – we’re just keen on making sure that these changes have as little affect on you as possible. We can do this because, as I said earlier, the risk of using the cover is extremely small. One of the main things insurance can cover is the cost of medical reports that we cannot recover from the other side. But we have a full write off facility with our agency, so they foot the bill in most cases where we cannot recover fees.
As such, the likelihood of us ever needing to cover you is extremely small. So we’re happy to take the risk of it.
Can we save you MORE money as well?
Probably – with most law firms taking at least 25% and many taking overall percentages as high as 40%, we can probably save you thousands of pounds as we can reduce the percentage deduction subject to how quickly you can provide instructions and work with us, as well as our terms and conditions.
So give us a money saving call for the best deal possible today on 0800 634 75 75.
