Ever wondered what the money you pay your car insurance firm is spent on? Then you’re in luck. You might be surprised to learn that your insurer only typically manages to make 4% profit on the average £358 annual car insurance premium, according to numbers released by a cover provider in September 2014. You might be less surprised to learn that a whopping £126 of every premium is spent on settling personal injury claims.
To infuriate drivers further, they somehow managed to work out that around a fifth of this money is spent on luxuries such as holidays by personal injury claimants, thus providing headline writers with the almost irresistible statistic that £26 of every car insurance policy is spent on luxury purchases by personal injury claimants.
As you might expect, this does little for the reputation of the personal injury industry, which even without this sort of thing is about on a par with that of journalists and estate agents, if not lower. But if you stop to think about it, wouldn’t you want to treat yourself if you had been injured in an accident that was not your fault and then gone on to win an East Northamptonshire accident at work compensation pay-out? You most probably would.
How East Northamptonshire accident at work compensation pay-outs are spent
Imagine that you had been involved in a catastrophic car accident that led to you being injured to the degree that you required months of medical care and time off from work. After a long, hard struggle back to health and winning an East Northamptonshire accident at work compensation pay-out, you decide that you will treat yourself to a nice holiday to help you put the whole unpleasant experience behind you. As is quite understandable, you decide to spend some of your East Northamptonshire accident at work compensation on your break.
It’s important to realise when looking at the above figures that people who suffer personal injuries in road traffic accidents often require East Northamptonshire accident at work compensation to help them meet expenses and loss of income that occur as a result of being hurt. They are also awarded a sum of money as damages. Why should they not spend this on what they like?
Claim what you might be entitled to with the assistance of Accident Advice Helpline
If you’ve been injured in any type of accident that was not your fault and would like to look into the possibility of seeking an East Northamptonshire accident at work compensation pay-out with the help and assistance of a top 100% ‘no win, no fee’ personal injury law firm, pick up the phone and call Accident Advice Helpline free on 0800 689 0500 or 0333 500 0993 from a mobile phone.
Date Published: 7th September 2014
Author: David Brown