If you’ve been injured in an accident caused by a negligent person,
corporation, or government entity, you may have grounds to pursue damages
by filing a personal injury claim. Depending on the circumstances of the
accident (and the generosity of the defendant’s insurance company),
you may find yourself having to weigh the pros and cons of going to trial.
Of course, we all lead busy lives, and many plaintiffs balk at the thought
of having to endure a stressful court case.
Fortunately, most cases tend to settle outside the courtroom. Like any
business, an insurance company is motivated by money and therefore prioritizes
their daily profitability. While your lawsuit will cost them a pretty
penny, they’ve been in the business long enough to realize that
paying court fees on top of your damages isn’t in their best interests.
That said, it’s important to critically review any settlement offers
with an experienced attorney before making any life-changing decisions.
Your chosen legal representative can calculate your claim’s maximum
value and determine if the settlement offer will cover the existing and
projected cost associated with your injuries.
Why Is the Insurance Company Willing to Settle Out of Court?
As previously stated, the main reason most personal injury cases settle
out of court is for purely monetary reasons. The defendant’s insurance
provider knows they will have to pay out the claim as some point, and
that going to trial will be vastly more expensive than simply renegotiating
a settlement offer. Also, the insurance company has no control over the
outcome of a case once it goes to trial, making it a potentially risky
– and financially cataclysmic – endeavor.
That said, there are rare circumstances, such as catastrophic injury cases,
where an insurance company may prefer to go to trial because a lot of
money is at stake.
Which Parties Benefit From Settling?
Interestingly, settling a personal injury lawsuit and foregoing a trial
can be beneficial to both the plaintiff and the defending parties. For
example, it’s particularly helpful to the plaintiff because settling
allows them to collect compensation sooner. The monetary damages can alleviate
their financial concerns and safeguard their standard of living. The defendant
also benefits because they don’t have to pay additional court fees
and will retain control over the negotiation process.
It’s impossible to predict the outcome of a court case, which is
why you need to retain the services of a skilled litigator who can secure
maximum compensation on your behalf.
What Should I Do If Negotiations Fail?
Sometimes, an insurance company will refuse to negotiate a settlement that
reflects the claimant’s legal objectives and financial needs. The
purpose of a personal injury claim is to recover compensation that reimburses
the victim’s medical bills, lost wages, property damages, and more.
If a claimant accepts the insurance company’s low-ball settlement,
they could face serious financial problems and even bankruptcy in the
future. In this scenario, the claimant’s only option is to initiate
court filings to get the insurance company’s attention. Oftentimes,
this action can end the game of chicken and encourage the insurance company
to deliver a fair settlement offer. However, if they still refuse to settle,
it’s important to rely on your attorney to guide you through the
Schedule a Free Consultation with Our Experienced Legal Team
At The Stewart Law Firm, PLLC, our
personal injury lawyers are experienced negotiators and litigators who can help you pursue and
obtain damages without going to trial. Of course, we also aren’t
afraid to aggressively represent your interests in court if the insurance
company refuses to provide a reasonable settlement.
Contact The Stewart Law Firm, PLLC at (512) 271-5112 to explore your legal options today.