Generally, personal accident lawyers do not charge a fixed amount for a car accident claim. Several factors influence the fee structure. These include the resources used, billable hours, contractual terms, whether you pick from the list of top lawyers who are experienced, and more. However, most personal accident attorneys follow a similar fee structure when working on a case.
Here are a few points to help you get an idea of what to expect from a lawyer on the off chance that you require an accident attorney. Contingency agreement Several lawyers prefer drawing up a contingency agreement for their services. It means the firm or lawyer handling your case does not get paid by a client until they recover the money in the said case. And when they do recover the amount for you, the lawyer is paid a percentage of the car insurance settlement. Or, if the case goes to trial, a sum is deducted from what is offered by the judge or jury. Signing on for contingency fees ensures that your lawyer is "all in" as far as winning the case is concerned. Contingency fees As for the figures, here is what you can expect to pay your lawyer as part of the contingency agreement. The fee percentage depends on whether the lawsuit filed against the defendant has been settled or has gone to court. It is generally about 33 percent for cases that are settled before going to court. But if it is settled after the suit is filed and the defendant serves a formal answer to you, or if it proceeds to trial and subsequently reaches a jury verdict, the contingency percentage goes up to 40 percent. For example, suppose your lawyer has sent a demand draft to the defendant's insurance company, and an estimated settlement of $100,000 is reached. In this case, your lawyer would get a cut of $33,000 (33 percent). On the other hand, if the case makes its way to a jury verdict, and if your agreement allows your lawyer to claim 40 percent of the total recovery, the fee is estimated at around $40,000. Flat fees Flat fees are not the go-to choice for lawyers, especially in the case of personal accident claims. In the flat fee system, lawyers charge a set amount for their services. They may also offer different payment plans based on the same fee. These arrangements are generally preferred for less complex situations, such as drafting and responding to a demand letter. In these cases, you can expect the flat fees to range from $300 to $1,000. Retainers Retainer fees are another payment method that certain law firms attorneys prefer. Your lawyer will collect an initial retainer (upfront amount) to start building up your case. They may also collect a contingency fee if you recover money from a case. However, remember that you have to subtract the retainer amount paid to the attorney from the contingency percentage due. So, if you pay $3000 as a retainer and recover $100,000 in a settlement, you would need to pay the lawyer concerned just $30,000 ($33,000 - $3000 = $30,000). Additional lawyer costs As mentioned, several other expenses are also associated with accident claims. These include fees associated with filing, photocopying, and postage. In addition, you may also have to pay extra for an expert witness, investigator fees, as well as transcripts, and trial exhibit charges. However, most lawyers do not charge these over-the-top expenses immediately. Instead, they deduct the costs from the settlement or recovery amount at the end. Additional fees also tend to pile on depending on the longevity of the case. So you might want to consult with the lawyer about those costs before hiring them. You must also check the agreement for how those fees are handled if the case is not won and the amount you will be liable to pay. Always read the fine print of any documentation you sign, no matter how convincing it may look.