Accidents Happen: 3 Loeschen Law Guidelines to Knowing When You Should Hire an Auto Accident Lawyer
If you have an auto accident, how do know if you need a lawyer? It’s easy to think you may need a lawyer for every accident. We are bombarded with advertisements promising “full and fair compensation” from various law firms. Describing monetary damages as full and fair compensation is a new trend among law firms and a very polite, politically correct way of saying “we will get you more money.” And that’s fine. But let’s call a spade a spade. The name of the game for insurance companies is to pay out as little as possible on a claim to maximize company profits for corporate shareholders. The only reason you should ever hire a lawyer in an injury case is to get more money. That’s why the Loeschen Law Firm has a shark in its logo.
The “full and fair compensation” advertisements fail to mention that part of your deserved compensation from your auto accident claim goes to paying the law firm. The portion of your claim to pay your attorney fees can range between 25-30%. Of course, if it is a tough case with damages that are hard to determine, or it is not entirely clear who is at fault, then hiring a lawyer will prove the attorney fees are well earned.
The question is: How are can you know if your auto accident case is worth hiring a lawyer? In many cases, hiring a lawyer might cost more than the settlement would be worth. Minor accidents, such as “fender benders,” often don’t require an attorney to settle. Here are 3 Loeschen Law guidelines for knowing if you should or shouldn’t hire an attorney for your auto accident case:
1. Are you injured? Are there medical expenses to be paid? If your answer is “no,” then it’s just a matter of working out a settlement with the insurance carriers for the repair or replacement of your damaged property. Damaged property includes the car, as well as the contents inside the car. If you carry a high deductible, you may consider suing the other driver for the cost of the deductible on your insurance. This can be done on your own – you simply file a claim in your local General Distract Court. It is relatively inexpensive to file your claim. Be sure to bring your insurance policy, the documents showing the settlement with your carrier, any bills you acquired, and a breakdown of what was covered and the cost of repair and replacement of items. You are entitled to receive the deductible that you paid as an out-of-pocket expense.
2. If you are injured, but the injuries are minor physical injuries that according to your doctor will be easy to recover from, then you can most likely handle the settlement on your own. Be careful to not be led to confuse major and minor injuries from your auto accident. The “full and fair compensation” lawyers often term “whiplash” as “connective tissue injuries.” The language makes the condition sound more serious, leading you to believe hiring an attorney is in your best interest. Even if a hospital stay is involved, you still may be better off handling the case on your own. Minor injuries are generally not worth hiring a lawyer for a settlement.
3. There is a simple formula used by fender bender lawyers and insurance companies to determine a settlement, using medical expenses factored by a multiplier. Your lawyer multiplies the medical expenses by a factor of 3. The insurance carrier usually multiplies medical expenses by a factor of 1. Therefore, settlement usually occurs somewhere between 1.5 and 2.2. For example: $15,000 in medical expenses multiplied by 3 equals $45,000. And $15,000 multiplied by 1 equals $15,000. Meeting in the middle of 2 would mean taking the $15,000 and multiplying it by 2 equates to a settlement of $30,000. This is usually 90% of all simple auto accident settlement cases, assuming one driver with minor injuries and the plaintiff is not at fault.
Each auto accident settlement case has its own story with twists and turns. There’s different defendants, insurance policies, serious and permanent injuries, which makes it easy to feel overmatched and overwhelmed. In those instance, give us a call. Loeschen Law Firm is happy to sit down to discuss the details of your case. We will help you determine if hiring an attorney makes sense per your possible settlement. We won’t encourage you to immediately sign a contract, or pressure you to act in hast. Loeschen Law Firm has your interest in mind. There’s plenty of “full and fair compensation” law firms who may not make your protection personal and find it difficult to see beyond dollar signs. We protect you as family and will be the shark when we find it necessary to aid in your protection, and will help teach you how to better protect yourself.
Think you need an auto accident lawyer? Get a consultation.