Wondering how much an attorney is going to cost you? Here you will find a clear answer to the question: “How much are attorney fees for car accidents?”
How much are attorney fees for car accidents? This is a question that many car accident victims want to have answered. They know that protecting their legal rights is important, but they also have concerns about whether it makes financial sense to hire an attorney to represent them.
It is extremely important to consider your financial needs after a car accident. If you have serious injuries, your losses – both financial and non-financial – could be substantial. You need to prioritize your financial recovery, and this means pursuing every available opportunity to maximize the amount of compensation you take home.
But, does this mean handling your insurance claim on your own so that you can avoid paying attorneys’ fees for your car accident? The answer to this question is a clear, “No.”
How much can an attorney help you recover for your car accident? Find out today:
*When you click the button you will be redirected to LawsuitInfoCenter.com.
How Much are Attorney Fees for Car Accidents? Here’s What You Need to Know
First, let’s address the question that brought you here: “How much are attorney fees for car accidents?”
The main thing you need to know is that car accident attorneys represent their clients on a contingency fee basis. There are a few important facts you need to know about contingency fees:
- With a contingency fee, you only pay if you win.
- Contingency fees are calculated as a percentage of your compensation.
- Many car accident attorneys do not charge contingency fees for securing property damage and PIP coverage.
1. With a Contingency Fee, You Only Pay if You Win
Virtually all car accident lawyers handle claims “on contingency.” This means that you only pay legal fees and costs if you win. If your car accident lawyer represents you on a contingency-fee basis:
- You do not pay anything for your initial consultation;
- You do not pay any retainer or monthly legal fees; and,
- You do not pay anything at all unless your attorney succeeds in securing a settlement or verdict.
Due to the fact that car accident lawyers work on contingency, this means that they will typically only take cases they believe they can win. If a lawyer doesn’t believe he or she can help you recover more than you could recover on your own, it simply will not be worth it for him or her to take your case.
As a result, your free initial consultation is important for both you and your attorney. It gives you the opportunity to make an informed decision about your representation, and it gives your attorney the opportunity to decide whether you have a case worth pursuing.
If you have been injured in a car accident, scheduling a free consultation is a no-risk proposition. You get comprehensive assessment of your claim from an experienced attorney, and you get to find out if an attorney believes he or she can represent you. It is in your attorney’s best interests to carefully and fully assess your claim; and, regardless of what he or she says, you will have the information you need to decide how best to move forward.
2. Contingency Fees are Calculated as a Percentage of Your Compensation
So, that’s how attorney fees work. Now, how much are attorney fees for car accidents? Contingency fees are calculated as a percentage of your compensation.
Most car accident lawyers charge a contingency fee of 33 percent for resolving claims via settlement. This means that if your settlement is $100,000, you would take home $67,000 (less any costs incurred), and your attorney’s legal fee would be $33,000. However, some attorneys calculate their contingency fees on a “net” basis, meaning that they deduct costs before taking 33 percent of the remainder.
With regard to costs, car accident attorneys will typically “advance” the costs of pursuing their clients’ claims. This means that you truly pay nothing out of pocket. If your claim is successful, these costs will be deducted from your settlement or verdict; and, if it is not, your attorney will assume the financial risk of taking on your claim.
Some car accident lawyers charge a reduced contingency fee—typically 25 percent. Additionally, most car accident lawyers charge an increased contingency fee—typically 40 percent—if they need to take a case to trial. This is because going to trial requires significantly more work (and entails more risk), so it makes sense for attorneys to charge a higher rate.
3. Many Car Accident Attorneys Do Not Charge Contingency Fees for Securing Property Damage and PIP Coverage
Our answer to the question, “How much are attorney fees for car accidents?” above applies to most—but not all—types of auto insurance claims.
Many attorneys will not charge a fee for obtaining personal injury protection (PIP) coverage, and charging a contingency fee for securing PIP coverage is prohibited in some states. Additionally, many attorneys will provide assistance with securing property damage coverage free of charge. During your free initial consultation, you should feel free to ask whether your attorney offers these complimentary services.
Why Will You Take Home More if You Hire an Attorney for Your Car Accident Claim?
Given that attorneys’ fees for car accidents can be as high as 40 percent of your financial recovery, does it make sense to hire an attorney? Or, could you take home more if you handled your car accident claim on your own?
Even taking your attorney’s legal fees into account, you will almost certainly recover far more if you hire an attorney to represent you. Here’s why:
- Remember, car accident attorneys only take claims they think they can win. For an attorney to be willing to take your claim, he or she must believe that doing so will result in a substantial payment. Helping you recover a small amount isn’t going to be worth an attorney’s time. So, if an attorney takes your case, this means that the attorney believes he or she can earn a reasonable fee while still helping you collect more than you could recover on your own.
- The insurance companies take advantage of unrepresented car accident victims. The insurance companies know that you are at a disadvantage without an attorney. They know that you don’t know your full rights, and they know that you don’t know how to calculate (and prove) the full compensation you deserve. As a result, the insurance companies will use various tactics to try to get you to accept a minimal settlement (if any)—tactics that can easily be overcome with the help of an experienced attorney.
- You may have more than one type of claim. While most car accident victims assume that they are limited to seeking auto insurance coverage, this is not always the case. From suing the other driver’s employer (if he or she was on the clock) to seeking compensation for a vehicle defect, there are various other ways that an attorney may be able to help maximize your financial recovery.
- An attorney can help you recover all of your accident-related losses. Finally, if you were seriously injured in your accident, you are entitled to compensation for all of your financial and non-financial In order to calculate your long-term financial needs and convince the insurance company to pay for your non-financial losses, you are going to need an experienced attorney on your side.
How Do You Find a Local Attorney Who Can Help with Your Car Accident Claim?
Now that you know the answer to the question, “How much are attorney fees for car accidents?” and you know why it is in your best interests to hire an attorney, how do you go about finding one? Finding a local car accident attorney is easy with CarAccidentSource.com.
When you click the button below, you will be asked to answer a handful of questions about your accident, and then you will be connected with an attorney who handles car accident claims in your town or city. You will be offered a free claim assessment, and you will have the opportunity to make an informed decision about what to do next. If you hire the attorney, he or she will represent you on a contingency-fee basis. If you decide not to hire the attorney (which you are free to do), then you can move forward with pursuing your insurance claim on your own.
In order to decide whether an attorney is a good fit, there are several important factors you will want to consider. You can learn about these factors here, and you can also learn about steps you can take to prepare for your free initial consultation.