If you were injured in a car accident caused by someone else, it’s in your best interest to have an experienced lawyer by your side.
Your lawyer will help you through the legal process while you take care of your injuries so you can be sure you receive fair compensation for your medical bills and other damages.
Related post: What are the main causes of car accidents?
But, how much will your personal injury attorney cost you?
The majority of car accident lawyers charge for their services differently than most attorneys.
Instead of an hourly fee, accident attorneys charge a contingency fee to take on a car accident case.
What exactly is a contingency fee? Are there any other fees associated with an accident claim?
We’ll answer those questions and more in the article below.
If you ever work with a personal injury attorney, they will likely work on a contingency fee basis.
A contingency fee arrangement means your attorney has agreed to represent you with the understanding that they will only collect a fee if the case is resolved in your favor.
For the attorney to receive the contingency fee, you have to obtain a car accident settlement from the at-fault driver or their insurance company or a court judgment in your favor.
To put it simply, your attorney’s fee is contingent upon a successful outcome to the case.
Contingency fees are beneficial to an accident victim because they help ensure that lawyers keep their client’s best interests in mind.
The better outcome you have in your case, the more your lawyer gets paid.
It’s a win-win situation.
The contingency fee percentage a personal injury lawyer can receive will vary, but the typical range is between 25% and 40%.
A 33% contingency fee is pretty standard.
That means that if your contingency fee agreement with your lawyer is 33% and you receive $100,000 in your settlement, your lawyer will receive about $33,000.
Contingency fees vary depending on whether or not a personal injury lawsuit has to be filed against the other driver.
If it does, you definitely need legal representation, and you shouldn’t try to do this on your own.
If your case settles before a personal injury lawsuit has to be filed, the contingency fee will be on the lower side.
But if the settlement occurs after your case goes to court or the defendant has served a formal answer to your complaint, your attorney’s share may increase to 40% or greater.
For example, let’s say your lawyer sends a demand letter to the negligent driver’s insurance company, and a settlement for $100,000 is reached quickly.
When that happens, your attorney will receive $33,000 with a 33% contingency fee.
But if your case takes a while and isn’t settled until a jury reaches a verdict, your attorney may receive a higher fee at 40% and receive $40,000.
Always discuss the contingency fee with your attorney and carefully review your contract for legal services and any other fees.
The contingency fee is usually negotiable as well.
If your case is pretty simple, and it’s obvious the other driver was in the wrong and they have adequate car insurance, you may be able to negotiate a lower contingency fee.
You shouldn’t give up any more of your settlement than you have to.
In general, with contingency fees, you don’t pay unless you win.
However, that’s not always technically true.
Be sure to read the fine print in your contingency fee agreement to determine what else you may be responsible for.
Look for things like filing fees, costs of photocopying, expert witness fees, and the like.
More often than not, costs will be absorbed by your attorney as they arrive.
When you receive your settlement, the attorney will be compensated for any costs they covered on top of receiving their contingency fee.
One thing you should discuss with your attorney is that you don’t want to be on the hook to pay for any costs if your case isn’t successful.
It’s always a good idea to speak with a car accident attorney if you were in an accident caused by someone else.
The more severe your injuries are, the more you stand to gain from hiring a personal injury lawyer.
Your lawyer gathers evidence at the scene, obtains police reports, interviews witnesses, and completes many other tasks to ensure that your medical costs and other damages are taken care of.
No one wants to be on the hook for their medical expenses after an accident that wasn’t their fault.
Also, insurance companies and their adjusters will work to minimize your damages and try to get you to accept a very low settlement offer as soon as possible.
Insurance companies are in the business of making money, after all.
An experienced accident attorney will make sure the insurance companies don’t take advantage of you during your trying time.
No matter what the contingency percentage is or what any other attorney fees may be, it is almost always worth it to have an accident attorney on your side.
A contingency arrangement benefits both the lawyer and the accident victim.
If you were worried that you weren’t going to be able to afford an accident attorney after your motor vehicle accident, don’t be.
The Mabra Law Firm is ready and willing to fight for your rights after your accident, and it won’t cost you anything until we win.
If you were involved in a car accident that wasn’t your fault, you may be entitled to financial compensation.
Don’t wait any longer to contact a personal injury lawyer.
The auto accident attorneys at The Mabra Law Firm will give you the best chance at receiving the compensation you deserve.
Click the button below to schedule your Free Consultation today.