Be wary of that contingency fee. It has been known to jump up if the attorney can't settle the case and has to go to trial. Also, 33 percent is not always standard -- the contingency fee can be higher in some areas if local custom dictates.
That is not to say that tort lawyers are overpaid. Anyone who has tried to deal with an insurance company and get what he or she is due knows how difficult that can be. Personal injury lawyers get paid so well because the good ones get higher settlements than a person representing himself could.