How Contingency Fees Work
Attorneys have several options when it comes to charging for their services. Some have flat rates, others charge by the hour, and still others work with contingency fees. Typically, personal injury attorneys and insurance claim attorneys charge contingency fees because of the cases they see.
People only file personal injury lawsuits or insurance claims when they’re in dire need of financial assistance. For example, people who have been catastrophically injured in a car crash will need more than $1 million to compensate them for their injury over the course of a lifetime if they can no longer work a normal job. Likewise, a person whose house sustains significant damage after a storm will need an insurance company to help pay for repairs.
Attorneys who assist these people understand their clients are desperate and don’t have a lot of time or money to spend on litigation. Contingency fees allow lawyers to work for a client without putting financial pressure on him or her. Attorneys who charge contingency fees don’t require any payment unless they can win their clients’ cases. After they’ve won, the lawyer will take a percentage of the final amount awarded to the client as payment for his or her work on the case.
If a lawyer can’t recover any compensation, he or she doesn’t charge a client any money for his or her services. The client isn’t obligated to pay anything extra, so he or she ends up in much the same position as before without going into debt with his or her attorney.
Many prefer this type of payment method because it ensures an attorney is fighting for a victory as hard as possible. Not only is a lawyer invested in the success of a client’s case on principle, but he or she also has a personal interest in winning the case.
If you’re interested in discussing your situation with an experienced Miami insurance attorney call us today. The Morgan Law Group, P.A. accepts cases on a contingency fee basis, so you don’t have to worry about paying a fee unless we win your case. Let us see what we can do for you.
Contact us at (844) 818-0774 or fill out our online form to schedule a consultation today.