Hiring a personal injury lawyer is a big decision when you’ve been injured. You may be wondering if the cost is really worth it or if you can handle the claim yourself. There are pros and cons to hiring an attorney that is important to consider.
Benefits of Hiring a Personal Injury Lawyer
There are several valuable benefits to hiring a personal injury attorney that can make the costs worthwhile. According to Matthew Mincone, an experienced personal injury lawyer in Tampa, here are some of these benefits.
More Settlement Money
Studies show that claimants represented by an experienced lawyer receive settlements that are 3.5 times larger on average than those who represent themselves. These lawyers are experienced negotiators who know how to maximize the compensation you are entitled to.
They understand the full scope of damages personal injury victims can claim, including medical expenses, lost wages, pain and suffering, loss of enjoyment of life, and more. With their expertise, most clients get significantly higher payouts.
Lower Stress
Around 80% of clients report lower stress levels when their legal matters are handled by professionals. Personal injury cases can be complex, with multiple insurance adjusters, defendants, expert witnesses, and stacks of paperwork. Handling everything alone can quickly become overwhelming.
Attorneys have the knowledge and resources to deal with the legal and insurance details so you can focus on recovery. They lift the burden while fighting to get you justice.
Cons of Hiring a Personal Injury Lawyer
While there are advantages, hiring an attorney also has some potential drawbacks to weigh.
Upfront Costs
The main disadvantage is the out-of-pocket money required to hire an attorney. According to a recent report, the average attorney hourly rate in 2022 was $313. However, many personal injury lawyers work on a contingency fee basis, which means you don’t pay anything until they win your case.
Their fee percentage then typically ranges from 25% to 40% of your compensation, depending on the specifics of your injury. Considering you are likely to receive more compensation when you work with a lawyer, the cost may not be an issue for you.
Time Investment
Pursuing a personal injury claim takes time, often several months to a year or longer. Your lawyer must investigate the accident, request records, consult experts, negotiate with insurance companies, and more. This is inconvenient and can cause delays in receiving your settlement. However, a good attorney will move the case forward as quickly as possible while striving to maximize your payout.
Is the Cost Worth It?
Given the increased compensation, lowered stress, and higher validity achieved with legal representation, most clients feel the percentage fee is worth it. Consider that the lawyer’s work results in a much larger total settlement, so the fee is offset by the additional amount recovered. Also, chronic injuries like spinal damage or traumatic brain injuries can require a lifetime of expensive medical treatment. The higher settlement a lawyer obtains makes a major difference in covering these long-term costs.
When to Hire a Personal Injury Lawyer
If your injuries and losses are relatively minor, you may not need an attorney. Hiring a personal injury lawyer is likely in your best interest for more serious injuries that greatly impact your life and ability to work.
Additionally, if the insurance company is disputing liability or denying your claim, legal help is recommended. Personal injury attorneys have successfully represented clients in all types of cases, including vehicle accidents, slips and falls, medical malpractice, dangerous products, and more. They know how to build a strong claim for maximum compensation.
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