Getting into a car accident can be a scary experience, and these incidents can leave drivers and passengers dealing with serious injuries. Unfortunately, a car accident can also lead to tremendous expenses for injury victims and their families.
How will an accident victim be able to afford an experienced attorney?
The answers to these questions may surprise you. Here, we want to discuss contingency fees, why they matter, as well as what types of compensation you may be entitled to for your car accident case.
What is a Contingency Fee?
Many personal injury and car accident attorneys work on a contingency fee for their cases. This means that the attorney will charge no upfront or out-of-pocket costs for a case. They will handle all costs related to the case. This includes costs related to:
Investigating and uncovering evidence
Having the client evaluated by a trusted medical professional
Hiring expert witnesses for the case
The full cost of a trial
The legal fees for these cases will be contingent on the attorney securing a successful settlement or jury verdict on behalf of the client. Any legal fees owed to the attorney will be paid for out of the final settlement or verdict based on a percentage agreed upon by the attorney and client before work begins on the case.
A contingency fee is truly a better route for these cases. Car accident cases can be unpredictable, and there is really no way to know for sure how many hours of an attorney’s time a case will take. Billing a client hourly would quickly exhaust a victim’s finances. However, by working on a contingency fee basis, both the attorney and the injury victim can focus on the case, not whether or not the money will run dry before a case is finished.
What Types of Compensation Are Available in a Car Accident Case?
The total amount of compensation available for these cases will vary depending on the specifics related to each particular situation. However, it is not uncommon for an attorney to help a client recover the following types of compensation after a car accident:
Coverage of all medical bills related to the car crash
Coverage for any future medical expenses
Lost income if a victim cannot work while they recover
Loss of future earnings or lost earning potential
Pain and suffering damages
Loss of personal enjoyment damages
Possible punitive damages against a grossly negligent driver
A skilled attorney will obtain all evidence necessary to properly calculate a victim’s costs. This will include not only gathering bills, receipts, and pay stubs, but also may include hiring economic and financial experts to calculate future expected losses. Finally, it may be necessary to use a multiplier method or daily cost analysis to calculate a person’s emotional distress damages, as these do not come with bills or receipts that make for easy calculations.