If you want to get compensation for personal injuries, a no win no fee agreement may be your best bet. In life, nobody can tell for sure how safe you will be from any accident. You may need to claim compensation for an accident at work, a car accident claim, or for any accident you may encounter in the street, in a shop or in some other public place.
In a lot of cases though, you will have difficulty getting any financial aid or legal assistance in claiming compensation for a personal injury. You may even need to pay exorbitant legal fees just to file your claim. What’s worse is that you do not get to get back what you’ve spent if you lost your case.
So if you are not able to get any legal aid, or do not have any insurance policy to cover your claim for that matter, there is a more friendly way of addressing this dilemma by way of what is called a “no win, no fee” arrangement. In such an event you will not have to pay your no win no fee agent in case of a failure in collection. Your solicitor will be able to recover his fees from the losing side’s insurance company. However, there may still be some expenses in medical negligence cases or in exceptional circumstances.
The downside about a no win, no free agreement is that you are required to pay your solicitor usually a much higher fee if you win. But you would be able to get back most of that from the other party though when you are able to make your claim. On top of that, you get your just compensation.
But over-all, the good thing about a no win, no fee accident claim is that you do not pay your no fee no win solicitor if your claim is unsuccessful but you get 100% of your compensation if you win.
This is also where business is booming for no win no fee companies. They are able to, on the other hand, jack up the prices for insurance against no win no fee cases by up to 40% since it is expected that, if you lose, the judge can make you pay for the other associated costs with these cases. Thus, this increase in normal fees is supposedly to cover for the possibility of loss and therefore no fee; so these higher insurance premiums are to be paid to protect you versus the legal costs of the other side in the case of a defeat.
Because of this, there are a lot of companies now offering such agreements for the benefit of both the losing and winning claimants. The important thing is that, now, personal injury victims have the option of getting a no win no fee following an accident.