You probably heard that personal injury attorneys work on a percentage of the insurance settlement. How does that work? What is a contingency fee? It’s an alternative to an hourly rate other attorneys charge their clients. A contingency fee is an arrangement between you and your attorney to share a set percentage in the final settlement that comes at the end of your claim with the insurance company.
A Win-Win For You and Your Attorney
A contingency fee agreement with an attorney gets you legal services at no cost upfront. Under the agreement, your attorney will work your case from start to finish without sending a bill. Your attorney receives an agreed percentage of your final settlement.
For example, if your attorney’s contingency fee is 33 1/3% and your attorney wins you a settlement for $30,000, you receive $20,000 and your attorney is paid $10,000. Some contingency fee agreements operate on a sliding scale. If you receive a favorable settlement early, the fee may be at or less than 33 1/3%. If the case moves to a trial, the extra time and work may require a higher percentage.
You and your attorney share the settlement when you win, but you also share if you lose. If your case ends unfavorably, you don’t have to worry about receiving a bill from your attorney.
How a Contingency Fee Works for You
A skilled attorney will grow your claim, not your problems. Determining when to accept a settlement from the insurance company by yourself can be stressful. Getting help puts your case into experienced hands. Your attorney wants the same thing you do: to get the highest possible settlement. This assures you that your attorney is dedicated to your claim when negotiating with the insurance company.
The contingency fee also works to ensure you get full care. An early, lowball settlement from the insurance company won’t compensate for future medical costs. When you hire an experienced attorney on a contingency fee, you get help planning your medical visits, tests, and treatment. This builds your claim for compensation while you receive necessary long-term care.
You don’t have to worry about the cost of good representation after an accident. Our team at Sam & Ash, LLP is just as dedicated to your recovery as you. We will get you What’s Right while you focus on getting better. Call free any time at 1 (800) 304-2000.