No one wants to get into a car accident. But if you do, one of the first things you’ll need to figure out is how to pay for any damages or injuries. That’s where hiring a car accident lawyer comes in.
Most personal injury lawyers work on a contingency basis, meaning they only get paid if you win your case. And if you win, they take a percentage of the settlement or verdict as their fee.
So, how much will a car accident lawyer cost you? It depends on many factors, including:
The severity of your injuries
The amount of money at stake in your case
How complex your case is
Whether or not you go to trial
The experience of your lawyer
The more serious your injuries and the more complex your case, the higher your lawyer’s fees will be. But even if your case is relatively simple, you can still expect to pay several thousand dollars in legal fees.
Of course, you shouldn’t let the cost of hiring a lawyer deter you from pursuing a claim if you’ve been injured in a car accident. The money you receive from a successful personal injury lawsuit can be used to pay for medical bills, lost wages, and other expenses related to the accident. And it can also help compensate you for pain, suffering, and other intangible damages.
If you’ve been in a car accident and are considering hiring a lawyer, contact a personal injury attorney in your area to learn more about your legal rights and options.
A Car Accident Lawyer’s Contingency Fee
As mentioned above, most car accident lawyers work on a contingency basis. This means that they don’t get paid unless you win your case. And if you win, they take a percentage of the settlement or verdict as their fee.
The typical contingency fee for a car accident lawyer is 33% of the settlement or verdict. But it can range from 20% to 40%, depending on the circumstances of your case.
So, if you receive a $10,000 settlement from the insurance company, your lawyer would receive $3,300 (33% of $10,000). And if you win a $100,000 jury verdict, your lawyer would get $40,000 (40% of $100,000).
The contingency fee arrangement allows injured people to hire a lawyer even if they don’t have a lot of money. That’s because you don’t have to pay anything upfront to hire a lawyer on contingency. And if you don’t win your case, you don’t owe your lawyer anything.
Of course, there are some disadvantages to working with a lawyer on a contingency basis. The most obvious is that you won’t get paid unless you win your case. So, if your case is unsuccessful, you’ll end up paying for all the costs associated with pursuing it (including your lawyer’s fees).
Another downside is that lawyers who work on contingency typically take cases with a good chance of winning. So, if your case doesn’t seem to have a strong chance of success, you may have difficulty finding a lawyer who will take it on contingency.
And finally, because lawyers only get paid if you win, they may be more likely to take your case to trial (where they can potentially earn a larger fee). This can mean longer wait times for a resolution to your case and increase the costs associated with pursuing it.
Hourly Fees
In some cases, car accident lawyers may charge an hourly rate instead of (or in addition to) a contingency fee. Hourly rates are less common than contingency fees, but they may be used in cases where the lawyer anticipates spending a lot of time working on the case.
The typical hourly rate for a car accident lawyer is $250 to $350. But it can range from $100 to $700, depending on the lawyer’s experience and location.
If your lawyer charges an hourly rate, you’ll typically be required to pay a retainer upfront. A retainer is a sum of money used to pay for the lawyer’s time. The retainer amount will depend on the number of hours the lawyer anticipates spending on your case.
For example, if your lawyer expects to spend 10 hours working on your case, and his hourly rate is $300, you’ll be required to pay a $3,000 retainer upfront (10 hours x $300 per hour = $3,000).
Once the retainer is exhausted, you’ll be required to pay additional fees as the lawyer charges them. These additional fees will be billed at the same hourly rate as the initial retainer.
If your case is successful, your lawyer may charge a contingency fee (as described above). Or, he may deduct his hourly fees from the settlement or verdict.
Is A Car Accident Lawyer Worth The Cost?
The answer to this question depends on several factors. First, if you have a strong case and the insurance company offers a low settlement, it may be worth hiring a lawyer to get a higher settlement.
On the other hand, if your case is not strong and the potential settlement is also low, you might not want to hire a lawyer. In this situation, you might be better off negotiating with the insurance company on your own or taking them to small claims court.
Of course, there are other factors to consider as well. For instance, if you were injured in an accident and could not work, you may need the money from a successful case to pay your bills. Or, if someone else’s negligence caused the accident, you may want to hire a lawyer to hold them accountable.
Ultimately, the decision of whether or not to hire a car accident lawyer is up to you. But it’s something you should consider carefully before making a decision.
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