A self-adjusting pliers-type crimping tool includes a crimping arrangement having movable and fixed levers that are pivotally displaced from an open condition toward a fully closed condition, thereby to generate a first crimping force for crimping an electrical contact upon a bare conductor. When the levers are at an intermediate position, a predetermined compensating energy from a caged spring assembly is released and is applied to the crimping arrangement to complete the crimping process. The spring assembly may comprise a stack of spring washers, a helical spring arrangement, or a stack of resilient elastomeric blocks.