Posted by on Apr 6, 2018 in Business | 0 questions

In today’s world, it seems that accidents are happening more frequently than ever before. This probably has something to do with the rapid pace that life is lived at. Nevertheless, if you have been involved in an incident and it was not your fault, you can secure compensation to cover the costs.

When it comes to making a claim, most people will be interested in the financial side of things, i.e. how much they will get and how much it will cost for them to hire a lawyer. Read on to discover about this in further detail.

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How much compensation will I get if I make a claim?

Unfortunately, it is not possible to get an accurate figure regarding the payout you will get beforehand. This is because all cases are different. There are so many elements involved, from the extent of your injuries to the costs you have incurred as a result, for example, loss of income. You can also claim for psychological damages for traumatic incidents, for instance, those where negligence was involved. What is vital to recognise, though, is that compensation comes in two parts. The first is for the actual physical and mental injuries you have sustained. The second part is to cover all expenses you have had to endure, including, travel costs, medication expenses, and loss of income.

How much will it cost me to hire a lawyer?

All lawyers charge different rates depending on their level of experience, their area of specialism, their success rate, and where they are based. Nevertheless, it is also vital to recognise that lawyers work to different payment structures today. This is something you need to carefully consider. You can go down the traditional route and work with a lawyer that bills you per hour. You will need to pay a portion upfront for this service, and then you will typically get billed along the way too. The other option is to go for a No, Win, No Fee attorney. This is an individual that will get a percentage of your payout as their legal fee. You will agree on this percentage before. And, what happens if the case is unsuccessful? You won’t need to pay anything. Make sure this is the case, though, as some lawyers claim to be No Win, No Fee when that is not strictly the case.

Hopefully, you now have a better understanding regarding the financial elements that are associated with making a claim. While it is impossible to give a definitive figure regarding the compensation you will receive, you should now understand what the payment is based on, as well as how much it is going to cost you to secure the legal services you need.