A driver who is injured in a road accident that is not his or her fault is not obliged to claim through a road accident solicitor in order to recover compensation for their injury, financial losses, expenses or car damage. There is the option of taking a settlement offered by the third party’s insurance company. Settling early has obvious benefits for the insurance company, who will be able to save money on legal fees. That said, unless a consumer has consulted a road accident solicitor they may not be certain that what they are being offered is fair.
A new system for handling the processing of road accident claims with values between £1,000 and £10,000 was introduced on April 30th this year. To put that into perspective: that’s 80% of all road traffic accident claims. The new system introduced an electronic information sharing portal so that a road accident solicitor can easily share information with an insurance company relating to a claim, avoiding duplication and saving time. Additionally, the new system includes strict time limits in which the claim must be settled.
The aim of the new regulations was to simplify and streamline the process so that it would be easier on accident victims and reduce spending on legal fees by insurance companies. Getting payouts to the victims who were relying on the money as quickly as possible was the main priority. But road accident solicitors are warning consumers that whilst the process appears to have been simplified, it is now more important than ever to hire a road accident solicitor to ensure that consumers get a fair deal.
The new regulations have allegedly led to a rise in a practice that is not new. The Insurance companies acting for the liable driver contact the claimant offering early settlement of their claim. It is not uncommon for the companies to exaggerate the cost and complexity involved in hiring a road accident solicitor in order to encourage claimants to accept the early settlement offer. Sadly the settlements offered by the insurance companies are not always as high as those a court would offer. This explains why it is still as important as ever to enlist the help of a road accident solicitor to ensure you get the best deal.
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