If you’re planning to bring an injury-related insurance claim after an accident, chances are you’ve already encountered the phrase “No Win No Fee” before. Typically, this phrase pops up when discussing with injury lawyers or accident lawyers.
Ever wondered what this line actually means? Does it accurately represent how much a lawyer would charge for taking your accident claim? Despite the repetition of the phrase in many media platforms, it is no denying that many remain clueless on what the “No Win No Fee” agreement actually means.
To help shed some light on this topic, we have compiled a few of the most important details that concern personal injury lawyers in Brisbane with no win no fee agreement with their clients.
What Is No Win No Fee Lawyers?
A ‘no win, no fee’ agreement, also known as a conditional fee agreement, is a type of contract that states the attorney won’t charge the customer for fees if he or she fails to win the claim. On the other hand, if the case is won, the client is expected to pay the lawyer with a portion of the compensation awarded.
How Much Do “No Win No Fee” Lawyers Take?
If the personal injury claim comes out successful, the injury lawyer will take up a certain portion of the compensation that is recovered by the client from the other party’s insurance company. Generally, there is no specific rule that states how much percentage an attorney should take from his or her client. It all depends on the percentage that the lawyer and the client will be agreed upon before the lawyer will decide to take on the claim.
Typically, attorneys charge 25 per cent of the final amount of the compensation recovered from the insurance company of the at-fault party. However, in some cases, some solicitor or law firm may extend their portion up to 40 per cent, depending on the signed agreement.
Whatever the case is, every injury lawyer must make sure that his or her client knows how much he or she will be charging in case the claim won. Every step must be done clearly and precisely, and each customer must have a full knowledge on the terms of their agreement, in what conditions they are expected to pay, and how much.
Do You Qualify for a “No Win No Fee” Agreement?
Generally, the “no win no fee” agreement covers a wide variety of incidents, and injury lawyers can accommodate any client that claims to be a victim of an accident caused by another person’s, group’s, or entity’s negligence. It could be in the form of an automobile accident, medical malpractice, defective products, wrongful deaths, or even slip and fall claims.
The Bottom Line
In need of a personal injury lawyer that will help you get the compensation you deserve? Before you do, it is important to know the essential aspects of the “No Win No Fee” agreement in order to be prepared in whatever legal battle that comes your way.
If you have any inquiry, do not hesitate to consult personal injury lawyers Brisbane today.