Did you know that motor vehicle accidents cause up to 50 million injuries every year? Moreover, they claim the lives of over 1.3 million people. Worse, most are preventable, considering they’re often due to negligence.
The good news is that auto accident lawyers can help crash victims fight for their rights. So, if you or a loved one becomes a victim of such an event, it pays to know you have legal options.
But doesn’t hiring an auto accident attorney cost a lot?
We’ll answer that question (and more) in this guide, so read on.
Does Hiring an Auto Accident Attorney Cost a Lot?
It does, but only if they’re successful in winning their client’s case. After all, most car accident lawyers work on a contingency fee basis.
A contingency fee is a no-win, no-pay agreement between an attorney and a client (plaintiff). The plaintiff is the person pursuing compensation (you) against another person (the defendant).
If you file a claim against another driver you think is at fault, that other party is the defendant.
So, let’s say you hire an auto accident attorney on a contingency fee basis. In that case, you can expect the legal professional not to charge you anything yet after taking on your case.
Instead, you only pay for the services rendered after the legal expert wins your case.
Please keep in mind that not 100% of car accident attorneys agree to this payment method. Thus, you must confirm this with the lawyer first if you wish for this kind of agreement. You can also view this resource for more tips on selecting the right attorney for your case.
How Much Do Auto Accident Lawyers Charge Then?
Most car accident lawyers hired on a contingency fee basis charge a third or 33%. However, that still depends on the state you live in and the complexity of your case. It can range from 20% up to 40% of the amount the attorney can recover for you, the client.
If your case is relatively straightforward, your lawyer might charge a rate on the lower end. However, if it’s complex and might go to court, you can expect to pay the attorney a higher percentage.
Suppose your auto accident lawyer successfully recovered $250,000 on your behalf. Let’s also say your attorney agreed to deduct litigation costs of $25,000 before getting paid.
In that case, the formula would be something like this:
$250,000 (amount recovered) – $25,000 (litigation costs) – 33% (your lawyer’s cut).
Since your lawyer’s cut is 33%, you pay them $74,250. You (the plaintiff) then get the rest, which amounts to $150,750.
Consider Hiring an Auto Accident Attorney
Remember: A car accident can cause severe injuries, many of which can last for months. For instance, 50% of whiplash patients experience chronic symptoms. About 15% even suffer from a disability that reduces their working capability.
Thus, it often makes sense to hire auto accident lawyers, even if it costs money. After all, they do all the hard work while victims recover. Besides, many don’t charge anything unless they win the case.
Did you like this article? We have more to share with you, so browse more of our blog now!
Leave a Reply