Can I Get An Interim Payment With An Injury Claim?

Brenton Armour

UX/UI Designer at - Adobe

Brenton Armour, the visionary founder and lead attorney at InjuryLawsuitHelper, boasts an impressive 15-year track record in personal injury law. His remarkable expertise spans cases...Read more

Have you been injured in an accident and wondering if you can get an interim payment for your injury claim? The answer is yes, you can! An interim payment is a partial payment made by the insurance company to cover some of the expenses incurred during the claim process, including medical bills, lost wages, and other related expenses.

However, the process of obtaining an interim payment can be complex, and it is essential to understand the requirements and procedures involved. In this article, we will provide you with all the information you need to know about interim payments for injury claims, including who is eligible, how to apply, and what to expect. So, let’s get started!

Can I Get an Interim Payment With an Injury Claim?

Are you currently in the process of making an injury claim? If so, you may be wondering if you can receive an interim payment while you wait for your final compensation settlement. The answer is yes, in some cases, you may be able to receive an interim payment. Here’s what you need to know.

What is an Interim Payment?

An interim payment is a partial payment made by the defendant, or their insurance company, to the claimant before the final settlement is reached. The purpose of an interim payment is to provide financial support to the claimant during the period of time between the accident and the final settlement.

In most cases, an interim payment will only be made if the defendant has admitted liability for the accident. Additionally, the claimant must have a clear need for the funds, such as to pay for medical bills or lost wages.

When Can I Get an Interim Payment?

Interim payments can be made at any point in the claims process, from the moment liability is admitted up until the final settlement is reached. However, it’s important to note that an interim payment is not guaranteed, and the decision to make one is at the discretion of the defendant or their insurance company.

The amount of the interim payment will depend on the circumstances of the case, but it will typically be a percentage of the final settlement amount. For example, if the final settlement is expected to be £10,000, the interim payment may be £2,000.

The Benefits of an Interim Payment

There are several benefits to receiving an interim payment. Firstly, it can provide much-needed financial support during the claims process, particularly if you have had to take time off work due to your injuries. It can also help to cover the costs of any medical treatment or rehabilitation that you may need.

Secondly, an interim payment can help to speed up the claims process. If you are struggling financially, you may be tempted to accept a lower settlement offer just to get the money you need. However, with an interim payment, you can afford to wait for a fair settlement offer.

The Downsides of an Interim Payment

While there are benefits to receiving an interim payment, there are also potential downsides. For example, if you accept an interim payment and then the final settlement is lower than expected, you may have to pay back some of the interim payment.

Additionally, if you are offered an interim payment early on in the claims process, you may not have a clear idea of how much your final settlement is likely to be. This could mean that you accept an interim payment that is lower than what you are entitled to.

Interim Payments vs. Final Settlements

It’s important to remember that an interim payment is not a final settlement. While an interim payment can provide financial support during the claims process, it is not the full amount that you are entitled to.

If you accept an interim payment, it’s important to remember that you are still entitled to pursue a final settlement. This means that you should not accept an interim payment that is lower than what you are entitled to in order to speed up the claims process.

How to Apply for an Interim Payment

If you believe that you are entitled to an interim payment, you will need to make an application to the defendant or their insurance company. You will need to provide evidence of your financial need, such as medical bills or payslips showing lost wages.

It’s important to note that the decision to make an interim payment is at the discretion of the defendant or their insurance company. If they refuse your application, you may need to seek legal advice.

Conclusion

If you are struggling financially as a result of an injury, an interim payment can provide much-needed financial support during the claims process. However, it’s important to remember that an interim payment is not a final settlement and that you should not accept an interim payment that is lower than what you are entitled to. If you believe that you are entitled to an interim payment, speak to your solicitor for advice on how to proceed.

Frequently Asked Questions

Can I Get an Interim Payment With an Injury Claim?

Yes, it is possible to get an interim payment with an injury claim. An interim payment is a partial payment made by the defendant’s insurance company to the claimant before the final settlement of the claim. It is designed to help the claimant cover their expenses while the claim is still ongoing.

To qualify for an interim payment, the claimant must provide sufficient evidence to prove that they have a strong case and that they are likely to win the claim. The amount of the interim payment will depend on the severity of the injuries and the estimated value of the claim.

What Expenses Can I Cover With an Interim Payment?

Interim payments are designed to cover the claimant’s immediate needs, such as medical expenses, loss of earnings, and other related expenses. It is important to note that the interim payment is not a full compensation payment and should not be used to cover non-essential expenses such as holidays or luxury items.

If the claimant uses the interim payment for non-essential expenses, they may be required to pay back the amount to the insurance company.

How Long Does it Take to Receive an Interim Payment?

The time it takes to receive an interim payment will depend on the complexity of the claim and the evidence provided. Generally, it takes between 4 to 6 weeks to receive an interim payment.

The claimant’s solicitor will negotiate with the defendant’s insurance company to determine the amount of the interim payment and the timeframe for the payment. Once an agreement has been reached, the insurance company will transfer the funds to the claimant’s solicitor, who will then distribute the funds to the claimant.

Can I Request Multiple Interim Payments?

Yes, it is possible to request multiple interim payments if the claim is ongoing and the claimant requires additional funds to cover their expenses. However, the claimant must provide evidence to show that the additional funds are necessary.

The insurance company may request additional evidence before approving a second or third interim payment. It is important to keep all receipts and documentation related to the expenses incurred as a result of the injury to support the claim for additional interim payments.

What Happens to the Interim Payment if I Lose the Claim?

If the claimant loses the claim, they may be required to pay back the interim payment to the insurance company. However, this will depend on the terms of the agreement between the claimant and the insurance company.

It is important to discuss the terms of the interim payment with the solicitor and insurance company before accepting the payment. The terms should be clearly outlined in the agreement to avoid any confusion or disputes in the future.

In conclusion, seeking an interim payment for an injury claim is possible and can provide some much-needed financial relief while waiting for the final settlement. It is important to understand the requirements and process for obtaining an interim payment, which may vary depending on the type of claim and the jurisdiction. Consulting with an experienced personal injury lawyer can help navigate the legal system and increase the chances of securing an interim payment. While an interim payment may not cover all expenses, it can help alleviate some of the financial burden and provide a sense of stability during a difficult time.

Brenton ArmourUX/UI Designer at - Adobe

Brenton Armour, the visionary founder and lead attorney at InjuryLawsuitHelper, boasts an impressive 15-year track record in personal injury law. His remarkable expertise spans cases from minor injuries to devastating accidents, earning him a sterling reputation as a trusted and passionate advocate for justice. Brenton's unwavering dedication to his clients has cemented his position as a sought-after personal injury attorney.

Latest Posts by Brenton Armour

• Can You Get A Misdiagnosis Cataracts?

  - July 31, 2023

• South Carolina Dog Bite Laws?

  - July 31, 2023

• Iowa Dog Bite Laws?

  - July 31, 2023
All Posts