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| Every driver needs to know this... https://www.mpsowners.co.uk:443/viewtopic.php?f=237&t=20461 |
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| Author: | ChrisKnottIns [ Mon Oct 20, 2014 1:24 pm ] |
| Post subject: | Every driver needs to know this... |
Every driver needs to know this... My MD was telling me about a minor car accident he had recently. Ever since, he's been plagued by calls from firms asking him if he was injured. When he says “No” he's asked if he's sure he wasn’t injured. Again he says “No, I wasn’t injured”. So he's then asked “Was there anyone else in the vehicle who might have been injured”. He has two objections to this. Firstly, he objects to being encouraged to make a claim for injury that clearly isn’t warranted and, secondly, he wonders from where they got his personal details. Recent law changes arising from something called The Jackson Review aimed to stamp out such ‘ambulance-chasing’ practices, particularly by banning the referral fees offered by law firms. NO WIN NO FEE These sort of 'No Win No Fee' arrangements mean that if you don’t win your case there is no charge levied by the law firm/accident management firm for their services. It has always been worth a punt even if there wasn’t much chance of success. However, many won’t appreciate the sting in the tail - the flip-side of the coin where if you win, there's a possibility a fee will be charged and it could be as much as 25% of your compensation award. This kind of approach is known as After The Event (ATE) cover, where assistance is offered or solicited following an accident/injury. Since the reforms, if there’s not much chance of success these providers tend to back away quite quickly rather than fight your corner and get you what you might deserve, leaving you on your own. LEGAL EXPENSES COVER A better alternative to 'No Win No Fee' is something known as Before The Event (BTE) cover. Usually called Legal Expenses cover, this is arranged in advance (to run alongside your motor insurance). Chris Knott Insurance offers this protection which is designed to pay your legal costs & expenses to pursue a claim. We have taken care to additionally ensure that our Legal Expenses offering guarantees that there will be NO deduction at all for costs from any compensation award. I thought it might be useful to see these two very different approaches operating in stark monetary terms. So here goes… If using a 'No Win No Fee' type firm (ATE) an injury award of just £8,000 could see a fee of 25% (£2,000) being payable for success, reducing your payout to £6,000. In comparison, that £2,000 would buy you 80 years’ worth of BTE cover with Chris Knott Insurance (charged at £25 for the year) and you’d get to keep 100% of your award. For the best service and to guarantee you keep 100% of your injury award it really does make sound financial sense to arrange cover in advance, just in case. To add (BTE) Legal Expenses Cover to your Chris Knott policy at the next renewal please call 0800 917 2274 or 01424 200477. PLEASE BE ASSURED TOO THAT WE NEVER PASS ON ANY DETAILS TO ANYONE FOR THE PURPOSES OF PESTERING CUSTOMERS TO CLAIM FOR INJURIES. We only share data as necessary to directly service your cover and to process any claims you instigate. best, Nick PS. Don't forget to call us if your car insurance is due in the coming months as we have prizes available until the end of the year. Details of this month's prize draw have previously been posted to the site. |
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| Author: | Big Dunc [ Mon Oct 20, 2014 1:43 pm ] |
| Post subject: | Re: Every driver needs to know this... |
What every driver needs to know or be aware of, is that when people claim compensation for whiplash or any other injury, that has to be paid for. In the greater scheme of things, it is paid for by means of a general increase across everyones premiums, including yours and mine. I dont mind when people receive compensation for a genuine injury, but often I expect that this is not the case. Also, it annoys me when the ambulance chasers phone up. I am sure that rather than buying details from people, half of this is just speculative cold calling. The other day I had a call "about my accident". Knowing full well that there was no accident, I led him on a bit by saying I had experienced quite a lot of neck and back pain since, but had not got round to claiming yet. Clearly he was interested. Then I asked him which accident he was referring to, and asked him to specify which date the accident had occurred on. Clearly he had no idea of the date (principally because there had been no accident). However, had I been involved in a minor accident a few years ago and if I was less than honest, or maybe prone to exaggerating that slight twinge, I can see how that random cold call could have lead to me receiving £2k in whiplash, the ambulance chasers receiving fees of a similar amount and both landing up on some poor underwriters desk, has then a bill for say £4k, that he has to recover by increasing all the premiums next year. I'll get me coat before I get really started..... |
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| Author: | jedi ronin [ Mon Oct 20, 2014 4:41 pm ] |
| Post subject: | Re: Every driver needs to know this... |
ya my work college gets 4 to 5 calls a week about an accident he had 18 months ago along the same lines it's absolutely disgusting as he was not in the car at the time no wonder insurances keep going up with these rogue firms about time something was done about it! |
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