Contingency fees can be quite advantageous because they assist ensure that the lawyer is looking out for your (the client’s) best interests. A favorable resolution in the lawsuit benefits both parties since you have a high possibility of financial recovery and your lawyer has a fair chance of receiving a piece of what they won. The lawyer’s fee is literally “contingent” on the outcome of the injury lawsuit.
How much do accident lawyers charge
If you were injured in a car accident (or another sort of accident) caused by someone else, having an expert lawyer on your side might increase your chances of receiving the maximum compensation for your claim. A free consultation with an attorney, such as our team at John Foy & Associates, can offer you a fair understanding of how a lawyer works and what their fee structure will be.
How Contingency Fees Work
Fortunately, most vehicle accident lawyers charge a contingency fee for their services. This is unique to personal injury lawyers and virtually eliminates the client’s “risk.”
- A contingency fee indicates that the lawyer will not be paid unless and until the client recovers money in the lawsuit. Then, if they are successful in recovering money for the client, the lawyer is compensated by either:
- A proportion of an automobile accident claim’s settlement or
A fraction of what a judge or jury awards in court
Average Contingency Fees for Accident Lawyers
You may think this is all well and good, but you’re still curious about how much lawyers charge for accident claims. A vehicle accident lawyer’s normal contingency fee ranges from 33.3 percent to 40% of the settlement. The charge will be determined by the lawyer’s unique criteria and the level of services provided.
- Many attorneys will charge contingency fees on a sliding scale based on when the matter is concluded. As an example:
- If the situation is resolved without the need for the client to file a lawsuit, the fee will be closer to one-third of the settlement amount.
- If the client is obliged to file a lawsuit, go to mediation, or arbitrate, the normal price increases by 40% to account for the additional time, money, and resources required.
Getting more active in your case, according to the American Bar Association (ABA), can occasionally assist reduce your overall costs—but this is something you should consider with your lawyer directly.
Other Costs Lawyers May Charge in Accident Claims
Although most lawyers do not charge you an attorney fee until it is deducted from the amount they win you, there are other expenses that are frequently linked with accident claims. Among these are:
- Fees for filing
- Fees for expert witnesses or investigators
- Fees for photocopies
- The cost of obtaining copies of medical records
- Postage costs
- Fees for depositions, transcripts, and trial exhibits