Ambulance Chaser’s are You Paying for Their Compensation?

We filled in the claim forms. I had taken out legal cover when I took out my insurance policy to deal with any problems we may have encountered in claiming for our vehicle. My partner had 7 days off work due to the pain and saw her doctor who prescribed strong muscle relaxing tablets and pain killers. The insurance company for the driver that hit us paid for 6 weeks of Physiotherapy for my partner. We were advised to claim for loss of earnings for my partner and the trauma of the serious accident.

In total my partner was paid out for a weeks wages and for the trauma of her injuries the compensation was £1000 which is just £50 shy of the money we received for the written off vehicle! These figures bear out the compensation figures claimed by the insurance companies in defence for their actions in raising premiums by 50% in 18 months. I know longer work in the insurance business so I can only take the word of the insurance companies? Am I being too trusting?

I can say my insurance premium did indeed double from 2010 to 2011 with not a word of explanation! This is a trend across the UK. It is not legal in this country to drive a motor vehicle without road risk insurance. If you chose not to its 6 points on your driving licence and a court appearance with a hefty fine! One way or another you have to have road risk insurance. I always have and always will be insured to drive my car. The thought of being involved in an accident when people could possibly be injured is a shuddering thought.

The world economy will drag itself out of recession it always does. When it does the insurance companies will make more money through investing your cash will they drop the road risk insurance premiums? Of course not prices only ever go up! I received numerous text messages from an unknown law firm reminding me of my accident in 2006 and telling me I have only a month or so to file an injury claim for the accident!

How did the law firm know I was in an accident? The answer is simple one of the insurance companies sold my details! It happens everyday. Your data is worth money! I have no long lasting injuries from the rear end shunt and I will not try to claim compensation after 5 years! However I am in the minority with this attitude. If you wave a chance of compensation under the nose of most drivers and they will take the offer of free legal representation.

I will not name a close friend who did just that; he claimed compensation for a rear end shunt and after a years court cases he was awarded £2,000 he had no injuries what so ever he told me as much! His excuse was and I quote,

“Everyone else is doing it so why can’t I?”

The problem is as more and more people claim injury compensation the insurance companies profits go down even more! So what do they do to cover the fall in their profits? Yes that’s right they charge you and me more for our Road Risk insurance  policies!

So please when you get a call or text advising you that you can claim compensation monies think on? You are only taking money in your right hand pocket and paying it out with your left hand pocket? Nobody wins think hard on this article.

Lord Banks