Understanding Your St. Louis Car Crash Settlement

By Christopher Hoffmann  May. 27, 2020 11:36a

Perhaps one of the most common questions among car accident victims is how much money will they end up keeping from their insurance settlement once all the fees have been paid?

It is important to understand that there is not necessarily a standard formula to calculate it. Therefore, you have to understand what are the costs that go into the entire process.

Common Fees in a Car Accident Claim

If you file a car accident claim in Missouri, you have a better chance of getting the full amount of compensation you are legally entitled to if you work with an experienced St. Louis car accident lawyer who can negotiate on your behalf. This is one of the main fees you have to cover during a car accident claim.

Usually, car injury attorneys charge a percentage of the total settlement, which will cover all their time spent working on your case, gathering evidence, and meeting with the insurance company to negotiate on your behalf.

Other costs or fees in a typical car accident claim can include:

• Case costs - which are copy files, medical record retrieval, postal charges, and anything paperwork-related. These costs are generally low during a car accident insurance claim, but can go up quite a bit during a trial

• Outstanding medical expenses/liens

The final amount you receive in your pocket is considered the settlement for things like your pain and suffering, and lost wages. It’s additional money you can spend however you please, as you’ve covered your medical costs already.

Lawyers Usually Work on a Contingency

You may be wondering if you have to pay the lawyer a fee if they don’t win. The answer is usually no, as most car accident lawyers work on a contingency fee, meaning that their fee is contingent on winning the case.

Additionally, lawyers will often front a loss of the case costs themselves, to help their clients, and retrieve this investment once the settlement is finalized. Having a lawyer by your side really makes this whole process easier, and it’s one of the best ways to get a fair settlement in the end.

Do You Need a St. Louis Lawyer?

If you’ve been the victim of a car accident and want to know more about how much your case would be worth, get in touch with a St. Louis auto accident attorney at The Hoffmann Law Firm, L.L.C. for a case consultation and support. Call us 24/7 at (314) 361-4242