Last week, we shared a blog that detailed how much a workers’ compensation lawyer costs in Minnesota. However, workers’ compensation isn’t the only type of work we perform. We also handle personal injury cases for individuals who have been injured when they are not on the clock.
So does a personal injury lawyer cost the same amount as a workers’ compensation lawyer, or is there a different fee structure? The answer is that although they are similar in nature, they do have some key differences. We explain more in today’s blog.
Cost of A Minnesota Personal Injury Lawyer
Like a workers’ compensation lawyer, personal injury lawyers in Minnesota tend to operate using what’s known as a contingency fee. This means that the lawyer only gets paid if you win an award. As we explained in the related post, contingency fee-based relationships are beneficial for both the client and the lawyer. The client only has to pay if they win a payment award, and the lawyer has a vested interest in maximizing the award amount for their client, because the more they get for their client, the more the lawyer gets to take home!
In Minnesota, most personal injury lawyers operate using a one-third contingency fee. This means that their fee is one-third of your total settlement award, while you get to keep two-thirds. So if your lawyer earns you a $30,000 award, they’ll take home $10,000 while you walk away with $20,000. Some clients may think that one-third is a large portion, but again, your lawyer is going to be working as hard as possible to get you the biggest award possible.
Also, considering that one-third is pretty much considered the industry standard, if you search for a lawyer who charges a smaller portion, there’s a chance that you are sacrificing your ability to earn a larger personal injury claim because the lawyer simply may not have the experience needed to compete in the industry. They may try to entice clients by offering to take a smaller portion of the award, but they may not have the skills or knowledge to turn your case into the biggest payday. If they are only taking 25 percent of your settlement, but they can only get you $10,000, that’s not a better option than going with an experienced lawyer who may take one-third, but can secure a $20,000 award.
At the end of the day, it’s your decision who to go with for a personal injury case, but it is in your best interest to hire an experienced law firm like Hey Workers to pursue your claim award. We can walk you through our specific fee structure after taking a look at your case, and you’ll have the peace of mind knowing that our team of professionals is doing everything we can to get you every last penny that you’ve rightfully earned. For more information or to set up a case strategy session, give us a call at (844) 439-9675.
