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Compensation and Interim Payments
What is an Interim Payment?
An interim payment is an amount paid to you in partial settlement of your claim. When an interim payment is made, it does not mean that your claim has been fully settled and the third party insurers will still deal with other parts of your claim.
For example, if you are involved in a car accident and your vehicle is deemed to be beyond economical repair, the third party insurers may send you a cheque as an interim payment in order that you can purchase another car and return to work. The case will remain open until they have assessed how much they should offer you for your personal injury claim and your lost earnings, which will be sent as another cheque at a later date.
Another example would be if you had suffered a very serious injury and needed to pay for private rehabilitation costs or needed to have your house adapted to suit your new needs. In this case, a third party insurer may send out an interim payment cheque to assist you with your recovery while they consider how much you should be awarded for the full amount of losses.
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