If you have had a driver’s license for more than about 10 years, you’ve probably had an auto accident! If not, you’re lucky! But, the odds are it’s just a matter of time before you may suffer the pain and inconvenience of an auto accident.
What will you do when you are in that situation, the accident was not your fault, and you are in the hospital wondering just what you may be facing? In the matter of mere seconds, your life can change and become more complicated than you ever imagined.
For the first time, you may actually want to know a lawyer. Should you deal with the insurance company alone? Can you get a fair settlement on your own? Would an attorney get a higher settlement? But, even so, would the attorney keep it all? Or, worse yet, will you have to pay out of pocket for attorney fees?
These are all legitimate questions running through your mind. And, at the same time, the insurance adjuster is hounding you, imploring you not to hire a lawyer. What do you do?
Well, let’s look at some facts:
When a study was conducted by the insurance industry, it showed that with cases in which settlements were under $15,000, those plaintiffs who had auto accident lawyers averaged over $7,450, while those without representation were only $3,464.
Accident Victims Who Hire An Attorney
Get Larger Net Awards
This is a very telling statistic. Clearly, having an attorney more than doubled the odds of getting a higher settlement.
What do we learn from this? In general, having an auto accident attorney does help in higher settlement payouts to claimants.
More importantly, what is the difference between “final offers” that an insurance company makes to a victim compared to the amount ultimately awarded once an attorney gets involved and assists in negotiations, arbitrations, mediations or trials?
Some of the nation’s largest and most successful litigation firms have examined these questions by conducting internal studies of their own cases. Based on these analyses it was determined that, uniformly, the attorney cases yielded over 5 times the award!
If this is true, why would the insurance company make such low offers, to begin with, knowing that if these victims hired an auto accident attorney, they would wind up paying out 5 times as much in settlements?
The likely answer is that they are betting you won’t do that. They are playing the odds that you will take the low offer to avoid any further hassle. And, they must be right or they would change their methods!
Remember, these insurance companies are in it to make money! This is big business. You can bet that insurance companies make calculated decisions about how to approach settlement offers and have studied these facts in detail.
Given these facts, think about hiring an auto accident attorney if you are faced with an injury and deserve compensation. You may be thinking that the attorney’s fee eats up the increased settlement amount, but that is simply not the case, statistically.
Yes, the attorney may keep as much as 30% of the award, but was responsible for increasing that award by 5 times. Do the math. It makes sense to hire an Auto Accident Attorney!