Motorcycle accidents can result in significant financial losses for the rider. In some cases, the riders may experience severe injuries that take time to recuperate, meaning missed pay and other medical expenses.
After a motorcycle accident, you might be asking how much a motorcycle accident or a personal injury lawyer costs and whether you can afford one. Luckily, finding the appropriate motorcycle accident lawyer may cost you nothing upfront. It will give you enough time and energy to concentrate on recuperating from your injuries.
A motorcycle accident lawyer is initially free as law firms tend to offer a contingency fee plan. A contingency fee implies that the lawyer will get a share of the compensation if you win your case. This proportion ranges from 33.33% to 40%. Although the standard is usually a third of the sum granted or 33.33 percent.
Contingency Fees: Everything You Need to Know
After a motorbike accident, all of your money may be spent on medical bills leaving you with no money to cover legal costs. You need to get a lawyer quickly since the statute of limitations for following personal injury claims is two years in most states. If you want to know more about contingency fees and how lawyers may help you, you can learn more here.
This makes it extremely difficult to file a personal injury claim without the assistance of an attorney.
However, if you hire a lawyer on a contingency basis, you won’t have to pay anything upfront. Your attorney may also agree to pay the litigation costs, although the contingency fee may be increased to account for these costs. If you don’t have an attorney yet, a contingency fee will assist you in finding one quickly and filing your lawsuit on time.
On the other hand, there are several disadvantages to contingency-based arrangements. The lawyer may earn more pay under a contingency fee arrangement than they would have gotten if they had charged an hourly fee.
This is particularly true in high-value personal injury claims that are straightforward to handle—and may take a letter or a phone call to conclude.
Before you sign the papers, your attorney will explain the conditions of your contingency fee contract. This is also the time to clarify all your questions about the agreement. The advantage of having everything written down is that there are no unpleasant surprises later on.
Settlement of Personal Injury Cases Before Answering the Lawsuit
Should your motorcycle accident attorney settle your lawsuit before the defendant responds to the complaint, they usually are entitled to up to 33% of the ultimate settlement if it amounts to $1 million.
However, things are different when a motorcycle accident lawsuit is worth two million dollars. Your injury lawyer may take a higher percentage in these circumstances.
Some personal injury attorneys are entitled to an additional charge over the preceding rates if your motorcycle accident claim payout reaches two million dollars. Every claim is unique, and the amounts might vary from case to case.
Personal Injury Cases That Reach Trial
If your motorcycle accident attorney has to go to trial, contingent fees work differently. In this instance, your motorcycle accident attorney may be eligible for a contingency fee of up to 40% of the settlement for cases with payouts of one million dollars.
Cases that payout between one and two million dollars and cases that pay out more than two million dollars are subject to the same incremental fee structure. These are both approximate figures that will change based on the circumstances.
Types of Settlements for Motorcycle Injuries
The cost of a person’s injuries is practically hard to quantify. Depending on the situation, you may be entitled to compensation for damages resulting from a motorcycle accident, including:
- Medical charges
- Medication costs
- Income loss
- Loss of earning potential
- Suffering and pain
- Disability accommodations
- Loss of companionship
- Wrongful death
Why Should You Get a Motorcycle Accident Attorney?
You must concentrate on healing after a motorbike accident. Hiring an attorney allows you to focus on getting back on your feet as your attorney manages all aspects of your situation. After a motorbike accident, you should contact a lawyer as quickly as possible.
Most people’s biggest problem with hiring an attorney is that they are pricey. However, in a contingency-based personal injury case, you can defer payment until after you win.
This relieves you of any financial obligations to the lawyer if you lose your lawsuit. An attorney can assist you with case preparation, insurance company negotiations, and even evidence collection to help you win. It is extremely tough to manage a personal injury claim on your own.
Many people benefit from contingency fees, particularly those who do not have the financial means to hire an attorney on an hourly basis. In most cases, you will not be required to reimburse your attorney for the time spent planning and defending your claim if you lose. Not all contingency arrangements, however, are created equal. When you first employ an attorney, it is vital to understand your contract thoroughly.
Lawyer expenses are usually included in the settlement. If you lose and get nothing, your lawyer also receives nothing. During your initial session, make sure you address all possible costs and expenditures with your motorcycle accident lawyer. You should be aware of all your financial obligations.