If you have been injured at work or are dealing with an occupational disease, you may be eligible for workers’ compensation. This can help you to cover the costs of any necessary medical care or support you receive moving forward and any wage loss suffered as a result of the accident.
However, many potential claimants avoid seeking out this compensation because they are worried about the costs of hiring legal counsel. For example, they may not understand how fee structures and legal pricing work, meaning they do not ask for any help whatsoever, even though they could benefit quite considerably from this support.
Understanding Fee Structures
Contingency Fees
To protect the worker’s best interests, Renfro & Renfro’s worker’s comp lawyers will charge on a contingency basis. This means that our payment hinges on a successful outcome on behalf of the client, we don’t get paid, unless you get paid. If we win your case our fee is typically deducted from what the insurance company owes you and paid directly to our office so you don’t have to pay our bill directly. If we are unsuccessful in obtaining worker’s compensation benefits for you, you owe us nothing.
Percentage Basis
Fees for worker’s compensation lawyers are typically calculated as a percentage of the benefits or settlement obtained, as opposed to a one-size-fits-all fee that may be used in other legal scenarios. The exact percentage charged by a lawyer will vary on a case-by-case basis, but it is usually somewhere between 20-25% of the total settlement amount. Renfro & Renfro charges a 20% attorney’s fee on workers’ compensation settlements. As such, if you were awarded $10,000 in compensation, our fee would be $2,000, plus any costs that we incurred in prosecuting your case.
Fee Agreements and Consultations
Initial Consultation
If you want to hire a worker’s compensation lawyer but want to have a better idea of the costs associated with this ahead of time, schedule an initial consultation. Here, they’ll be able to provide you with an insight into their legal fees and fee structures. Even better, many worker’s compensation lawyers, such as the team of experienced lawyers at Renfro and Renfro, conduct the initial consultations free of charge.
Fee Agreements
Before officially hiring a lawyer, take your time to look through their fee agreement. Make sure that you understand what you are agreeing to, and ask any questions that you may have. This will give you much greater peace of mind moving forward.
A good lawyer will be completely transparent regarding their pricing and fee structures and will not be offended by you asking for more information relating to this.
Additional Costs and Expenses
Litigation Expenses
While the amount of litigation expenses you’ll face during the process of making a worker’s compensation claim can vary, they are typically paid for by your attorney and repaid to the attorney if you win your case. Some of these litigation costs include:
- Court fees
- Medical record/report retrieval
- Travel expenses
- Expert Fees
Typically litigation expenses advanced by your attorney are deducted from your settlement paid directly to your attorney. However, in some cases, they are reimbursed to your attorney separately.
Contingency Fee Benefits and Considerations
Contingency fees are often referred to as “no win, no fee” legal agreements. They always work in favor of the client, as it means that you do not have to pay a single cent if you do not achieve a favorable outcome.
However, they are often great incentives for lawyers to work hard and succeed. This increases the chances of a successful claim and getting the compensation you deserve.
Fair Compensation
As noted above, contingency fees incentivize lawyers to secure the maximum benefits available for their clients. For every dollar your attorney gets for you, your attorney gets a percentage of the dollar, this then ensures that they will work hard to get the best result for you. As such, it is a mutually beneficial partnership where both parties are working toward a shared goal.
Book a Free Consultation with a Trusted Workers’ Compensation Lawyer in Richmond, VA
If you have been injured at work or diagnosed with an occupational injury, then it’s important you act fast and seek out worker’s compensation. Typically, this requires you to report the incident and begin to take action within 30 days of the incident occurring. Otherwise, you may miss your opportunity to make a claim.
If you’re looking for a trusted workers’ compensation lawyer in Richmond, VA, look no further than Renfro and Renfro. With years of experience in helping workers get the compensation they deserve, we’re here to help you throughout every step of the process. We would be happy to discuss costs and legal fees in more detail with you during a free consultation call! Contact us today to get started.
