There are 48,397 personal injury law businesses in the US, which employ 165,720 people. Millions of cases settle each year and the industry is worth $57.3 billion as of 2024.
Is it Worth Hiring a Personal Injury Lawyer?
Many people wonder if hiring a personal injury lawyer is necessary or if they can just handle their claim themselves. However, it is worth noting that personal injury lawyers take 7-9 years to become licensed professionals and have experience negotiating settlements and taking cases to trial if needed. A personal injury lawyer understands the complex legal issues and has resources to build the strongest case possible. While you can try to settle your claim on your own, hiring an attorney greatly increases your chances of getting full and fair compensation.
Personal injury attorneys know how to calculate the full value of a claim, including medical bills, lost income, pain and suffering, and other damages. Insurance companies often make lowball offers, hoping injured victims will accept less than they deserve. An experienced attorney knows when an offer is too low and how to effectively negotiate a higher settlement. Studies show people represented by lawyers recover over 3 times more money than those who try to settle a claim on their own.
Are Contingency Fees Worth It?
Most personal injury attorneys use contingency fees, so you don’t pay anything upfront. The lawyer only gets paid if they successfully recover compensation for you. Their fee is a percentage of your final settlement or award, usually around 33%. It aligns their incentives with yours to maximize your payout. While you have to pay a portion of your settlement to the attorney, most people end up recovering far more using a lawyer than they could have on their own. The increase in compensation usually greatly outweighs the lawyer’s percentage fee. This is especially the case for complex claims like TBI injuries, where compensation can be anything from $100k to more than $1 million.
Do Lawyers Speed Up the Claims Process?
Pursing compensation on your own can drag out for months or years. Insurance companies often delay and stonewall hoping injured victims will simply give up. An experienced personal injury lawyer has the resources to build a strong case efficiently and the negotiation skills to push for a quick resolution. On average, a pedestrian accident claim can settle in 6-12 months, whereas a simple dog bite claim may settle in less than that.
Lawyers also understand the litigation process if a fair settlement can’t be reached outside of court. They know how to file and collect evidence, conduct discovery, and effectively prove liability in court if needed. This can help resolve claims much faster than individuals trying to navigate the legal system on their own.
Is the Time Investment Worth It?
Hiring a personal injury attorney does require some of your time, but likely much less than trying to handle your claim alone. You’ll need to meet with your lawyer initially, provide information about your injuries and what happened, and approve any final settlement. But your attorney’s office handles collecting evidence, communicating with insurance companies, filing paperwork, and the many other details of the claims process.
Considering most people recover considerably more money with an attorney, the time invested is relatively small in comparison to the potential payout. An experienced lawyer has your back and fights for the maximum compensation you deserve.
