One of the most frequently asked questions I am asked is how much will it cost to file a claim?

In addition to being one of the most popular questions, it’s also one of the most difficult to answer, along with “how long will my claim take?” The cost of your claim can depend on many different things, such as the type of representation you use, or whether or not you use legal representation or file a claim yourself. However, the main thing that will affect the cost of your claim is how you choose to finance it.

There are a variety of options available to you when it comes to financing a claim, these may include:

• Filing a claim yourself, when you do not use a legal profession and file a claim independently using your own knowledge and skills. The only thing you will pay in this case is your disbursements, also known as court fees, medical expert fees, etc.

• Self-financing by a legal professional, when he pays a claim out of his own pocket, usually by paying money on account each month to his legal representative.

• No Win No Fee Agreement, when you only pay legal fees if your claim is successful, and those fees come from a portion of your compensation.

• Insurance company, if you have legal coverage in an insurance policy (usually home or auto) you can use that policy to file a claim at no cost to you, but like a no-fee no-win agreement, you could lose a portion of your compensation for legal damages. fees if you are successful and you will not be able to choose your lawyers, you will have to use the firm of the insurance companies.

IF YOU ARE USING A LAWYER AND SELF-FINANCING.

This is probably the most expensive option as you will be paying the attorney’s hourly rate. Hourly rates can vary from company to company and depend on the experience of your attorney. However, while they may vary from company to company, there are limits to what a lawyer can charge, referral hourly rates can be found here.

As you will see, even the lower grades are expensive. However, if your claim is successful, you may file, as part of your claim, a claim for costs to be paid by the Defendant. But this will likely be negotiated and you are unlikely to get the full amount back.

In addition to hourly rates, you will also have to pay your attorneys’ fees.

Disbursements are items that your attorney needs to purchase in order to pursue your claim, such as your medical records, medical expert report, court fees, etc. These can range from £50.00 for your medical records to hundreds (sometimes thousands) of pounds for medical expert reports and court fees, see this link for court costs.

IF YOU ARE FILING A CLAIM THROUGH YOUR INSURANCE COMPANY.

This is probably the most cost effective way to file a claim. If you have selected the option in your auto or home insurance that covers you for legal claims, then your insurance company will use their in-house attorneys to enforce the claim on your behalf. They must also pay for disbursements. However, every policy is different, and you’ll need to check very carefully to see what’s covered and what’s not.

This also has the disadvantage that you don’t get to choose which law firm to use, you will probably have to use the firm that the insurance company uses, although sometimes your insurance company will allow you to use a local attorney. If you use your insurance company’s attorneys, you will likely never meet your attorney, all contact will be by phone, mail, and possibly email.

IF YOU ARE USING AN ATTORNEY IN A NO PROFIT AGREEMENT WITHOUT FEES?

A No Win No Fee Agreement means that you will not pay any legal fees unless you win your claim. If you are unsuccessful, these charges will be cancelled, and if your claim is successful, the Defendant will pay most of your legal fees. The portion of your legal fees that you will pay if you are successful is limited to 25% of your compensation.

However, you may still have to pay out of pocket. Your business may request money up front for this (if successful, these costs may be recovered from the Defendant).

IF YOU ARE FILING THE CLAIM WITHOUT AN ATTORNEY?

In this situation, you will not have to worry about legal fees since the attorney is no longer involved in the claim. However, he will enforce the claim without the benefit of a trained and experienced legal professional.

IN CONCLUSION

In conclusion, the cost of your claim will depend on how your claim is filed, whether it is filed privately, through your insurance company, or in a No Win No Fee settlement.