You are entitled to claim interest on your accident injury compensation, if your claim exceeds £200. This is often overlooked by injury solicitors and yet it is an effective way of increasing the level of your accident injury compensation. The court has power to award you interest. It is therefore important that interest should be included in your claim for
injury compensation. Interest on compensation for pain, suffering and loss of amenity runs from the date your claim is taken to court and notice is given to the other side.
Interest on
injury claim for pain, suffering and loss of amenity is currently 2%.
For out of pocket expenses and other losses, such as loss of earnings or care costs, interest is paid from the date of the accident to the date the court decides your case.
The current interest rate on out of pocket expenses and other losses is 6%.
Single items of loss or expenditure such as the purchase of a car or special equipment attract interest from the date of purchase to the date the court decides your case.
The court also has power to reduce interest if you have delayed in making your claim or in prosecuting it in court.
If you have received state benefits such as income support or disability living allowance, etc these are not taken into account when assessing the interest due to you.
If you received interim payment (advance payment) the period for which interest will be awarded will be adjusted to take into consideration the interim payment you received.
To maximise your
accident claim compensation, you need the help of a specialist personal injury solicitor.
Injury Claim Help for You Now Want help with your accident claim? Please
contact us or call
0800 321 3287 and let us talk it through.