What is the Cost of Hiring a Car Accident Lawyer?

If you have been hurt in a traffic collision, you might be owed compensation. If another person’s negligence caused your accident, you can hold them accountable with the help of an accomplished attorney.
 
However, many crash victims face mounting financial pressure. Medical bills and lost wages can present enormous challenges for people that are injured in collisions.
 
Victims have enough difficulties to manage without having to worry about the cost of a car accident lawyer. Below, we will discuss some of the most important issues related to the cost of legal services.
 
If you or someone you love has been injured in a car accident, you deserve justice. Make sure to consult with a trustworthy legal professional about pursuing financial recovery.
 
At Morgan & Morgan, we have decades of experience recovering the money that car accident victims are owed. When you hire our firm, you can rest assured that your claim is in the hands of trusted legal experts. 
 
Do not wait. Let us fight for you and get the money that you deserve. Complete the simple contact form on the Morgan & Morgan website to schedule your no-cost case evaluation today. 

Scheduling a Free Legal Consultation  

The “plaintiff” is the person who files a claim for compensation in a personal injury case. If you are uncertain about who caused your accident, it can be useful to speak with an attorney to discuss the facts of your case.
 
Most reputable injury lawyers offer new clients a no-cost legal consultation. During this initial meeting, you can ask questions and explain your situation.
 
Most people do not have a lot of experience with the legal claims process before they become injured. It is normal to have questions and confusion about personal injury law.
 
Beyond determining liability in your case, a free case evaluation meeting is an excellent time to decide whether a particular lawyer is right for your specific needs. Come to the meeting prepared to discuss your accident in detail.
 
Bring any documentation that might be relevant to your case. This can include:

• Medical records and paperwork
• Police reports
• Insurance information
• Your notes about the accident

The attorney will likely ask you a wide range of questions to gain a full understanding of your circumstances. You should also ask any questions that you have about your case and about the lawyer’s plan for recovering compensation.
 
Some of the most common questions that accident victims ask include:

• How long have you been practicing law?
• Have you handled car accident cases like mine before?
• What is your success rate?
• What is your negotiation strategy?
• Do you believe that I can win this case?
• How much do you think my claim is worth?
• What type of payment structure does this firm use?

When you are considering hiring a particular attorney, it is crucial to understand how they handle payments. In many cases, the cost of a car accident lawyer will depend on the amount of financial recovery achieved in your case.
 
Most car accident lawyers do not charge by the hour, like other attorneys. Instead, personal injury lawyers charge “contingency fees” for their legal services.

The Cost of a Car Accident Lawyer: Contingency Fees 

In most cases, car accident victims do not pay upfront fees for the cost of an attorney’s legal services. Instead, accident lawyers are paid through contingency fees.
 
With a contingency fee payment structure, the client and attorney agree on a certain percentage of the recovery in the case that will be paid to the lawyer. When the injury lawyer recovers financial compensation for the client, that percentage is allocated to cover the cost of legal services.
 
Most personal injury cases do not require a trial. Instead, they are often settled between the opposing parties before the case goes to court.
 
Securing an appropriate amount of money through a settlement often requires effective negotiation. For instance, the attorney may need to argue with an insurance provider on behalf of their client.
 
When negotiations are unfruitful, some cases do go to trial. When this happens, the injury attorney will build a legal case to try to convince the jury that their client is owed financial recovery.
 
Whether the lawyer achieves a settlement or a verdict for damages, they will be paid the agreed-upon percentage for their services when they are successful in obtaining compensation for their client.

Contingency Percentages

There is no single or universal standard when it comes to contingency fee agreements. The percentage of recovery that attorneys charge for their services varies from one firm to the next.
 
Typically, contingency fee rates range from 25% to 40%. A third (33%) of the recovery is the most common rate. 
 
For example, suppose that the cost of a car accident lawyer is a 33% contingency fee. If your attorney recovered $120,000 in your traffic accident case, they would keep $40,000 in payment for their services. 
 
In some cases, the cost of a car accident lawyer will vary depending on the amount of work that your claim requires. If your case is settled with no need for litigation, the contingency fee percentage may be lower.
 
But if your claim requires a lawsuit and trial, your attorney will need to do much more work to recover the money that you deserve. If a trial is necessary, the contingency fee percentage might increase.
 
For example, suppose that the opposing party’s insurance provider is uncooperative and negotiations break down. If you file a lawsuit and your attorney secures a successful jury verdict, the contingency fee percentage may increase to 40%.
 
Discuss the contingency percentages and arrangements with your attorney during your free consultation. You should never hire a lawyer or firm that requires upfront payment for legal services. 
 
Review the attorney’s contract for legal services very carefully. Make sure that you completely understand the way that the payment structure works and what the cost of a car accident lawyer will be in your case. 

Expenses and Fees

While clients should not have to pay lawyer’s fees upfront for a personal injury, other costs may arise during the course of your representation. There are costs from the legal claims process that are separate from the lawyer’s fees.
 
Depending on the contract for legal services, a client may be responsible for covering other costs. Some examples of additional expenses and fees include:

• The cost of securing medical records
• The cost of obtaining police reports
• Court reporter fees
• Expert witness fees

Some firms require clients to provide funds for these expenses as they arise. That is why it is vital to read your contract for legal services very carefully.
 
However, larger firms will often cover all of the associated fees and expenses. Much like contingency fees, these expenses will be paid with the financial compensation from your case.
 
Suppose that you settle a car accident case and recover $100,000. Depending on what your legal services contract states, you may need to pay contingency fees and other associated costs out of this recovery.
 
If your law firm incurred $10,000 in case-related costs, that amount would be deducted from your final recovery. If your lawyer also earned a contingency fee of 20%, you would recover $70,000 after payment.  

Other Types of Legal Payment Structures 

Some cases or firms will rely on other types of payment agreements. For example, some attorneys require a “retainer” to take your case and a contingency fee. 
 
A “retainer” is an upfront payment to secure the services of an attorney. When the lawyer wins your case, they will likely count the initial retainer toward your total legal fees.
 
In most cases, you should not hire an attorney who requires upfront payments. Reputable lawyers know that injury victims have enough challenges to face. 
 
Through contingency fee payment structures, clients pay nothing unless they receive money from their claim. Contacting a trusted firm, like Morgan & Morgan, will give you the best chance of securing maximum compensation in your car accident case.