Contingency Fees
A contingency fee is the most common fee option offered by personal injury lawyers. Under a contingency fee agreement, the lawyer only gets paid if they win the case. The attorney's fee is usually a percentage of the final settlement or court award. Contingency fees motivate lawyers to work diligently on cases and ensure they secure favorable outcomes for their clients.
Hourly Rates
Personal injury lawyers may also charge clients based on hourly rates. Hourly rates involve billing clients for the time spent on their case, including research, meetings, and court appearances. Hourly rate agreements typically require clients to pay a retainer upfront, which is deducted as the lawyer works on the case.
Flat Fees
Some personal injury lawyers offer flat fee arrangements for specific services. A flat fee entails a set amount for a particular legal service, regardless of the case outcome. Flat fee agreements can be beneficial for clients who prefer cost predictability and upfront pricing.
Retainer Fees
Retainer fees involve clients paying an upfront amount to secure the services of a personal injury lawyer. The lawyer then deducts their fees from the retainer as they work on the case. Retainer fees are often used in combination with other fee structures, such as hourly rates or contingency fees.