No Win No Fee Insurance

You may have heard the term ‘no win, no fee’ associated with a personal injury claim. This basically means that unless you successfully win your claim then you will not have to pay for your solicitors costs. However, what many people fail to realise is that if they lose their case, they will be responsible for the legal costs of the other side.

The legal costs of the people you are trying to claim from can prove to be very expensive. It is for this reason that it is advisable to take out an insurance policy against this happening. This type of insurance is known as ‘after-the-event’ insurance. The majority of solicitors will make sure that you have this insurance in place before even taking on your case.

Before granting this type of insurance, insurance companies will ask to take a look at the facts of your case. If the insurance company feels that your chances of winning are low, they may refuse to grant you an insurance policy.

If you are unable to obtain insurance then you should consider very carefully whether or not to proceed with the case. Even if you win your case you will still be liable to pay your solicitor, but in this instance the other side should pay most of that. If you lose your case however you could end up with a very hefty bill for your opponents solicitors fees.