Contracts mitigate risk - they do not eliminate it
First of all, the "point" of contracts is that they set out legal rights and obligations for all commercial transactions.
Buy a cup of coffee? That's a contract. Go to the movies? That's a contract. Buy a house? That's a contract. Build 23km of motorway? That's a contract.
Now, when I buy a cup of coffee, I don't bother with a written contract because the risks in that contract are extremely low and I (or the vendor) am unlikely to sue for a breach because the cost of enforcement will be much greater than the damages.
When I build a motorway, I insist on a written contract and it will have a detailed dispute resolution procedure including such things as an ongoing dispute panel of independent experts throughout, a requirement to negotiate in good faith, mediation and arbitration all before anyone can go anywhere near a courtroom (except for injunctive relief).
People have freedom to contract under the law which means that they can choose the terms to suit the risks. Going to court is always a last resort.
I have a litigator friend who handles medical malpractice suits (usually as a defendant for insurance companies) and his rule of thumb is that you don't go to court unless there are more than a million dollars at stake - less than that you just write a cheque.
My rule in my business is if it's less than the local court level ($100,000) I'll sue you myself - if it's more than that I'll hire a lawyer. In 20 years of business, I've sued about 5 people and I've never lost. Of course, I have settled many, many disputes for less than I might be legally entitled to because the cost (in time, money and effort) of getting what I deserve is not worth it.
There are lawyers in Australia who work on a contingency basis, usually for negligence rather than contract claims, however, be aware that, in Australia, costs generally follow the event. So if you lose, your lawyer won't charge you but their lawyer will.
Now, if it's a consumer contract (less than $40,000, or for goods or services normally used in the household, or a motor vehicle) then the government has agencies who will take up the consumer's cause without them spending a cent.
If it’s a non-commercial contract then you should be getting insurance.