No one wants to second guess an attorney who has been retained.
In the very few personal injury cases that I agree to handle, based on your facts which don't specify the amount of out of pocket medical expenses, I would demand policy limits.
Of course an attorney would help. First to use in interstate commerce, not first to apply for registration is the criterion for establishing rights. You can try to represent yourself, but against the law firm of a "large company" it won't be a fair fight.
I appreciate your question is linked to a real-life concern.
A non-compete is not enforceable except against an owner in connection with the sale of a business, including good will. It would not be enforceable in Calfiornia against a non-owner, non-director, non-officer employee of a business entity under the current state of California law.
Knowing that this is an "at will" employment state not enjoying the most robust economy, you can decide what to sign or not. Avvo is for analysis not...
I agree with my colleague's analysis, but one has to wonder what interest the attorney is charging to triple the amount of fees by virtue of accruing interest. You may wish to consult the bar. I am not sure, but I do not think compounded interest is permitted. Again, without knowing the facts of your written retainer agreement, further analysis is impossible.
Many reasons are possible. Depositoins are very expensive. Much information can be obtained from interviews (without a court reporter) followed by a declaration that the witness signs (to help insure the witness does not change their story before or at trial.)