You should settle your car accident personal injury claim when the insurance company’s settlement offer meets your goals, or when you and your personal injury lawyer agree that settling is in your best interest.
If you sustained injuries in a car accident where someone else was at fault, you have the right to pursue financial compensation. Fortunately, you do not necessarily have to go to court to get the compensation you deserve for your injuries. In most cases, the at-fault party’s insurance company will negotiate in good faith and make a reasonable settlement offer.
If the insurance company will not negotiate or make an acceptable offer to settle, your lawyer can help you determine if going to court will benefit you. Factors that may influence this decision include:
- The nature and extent of your injuries
- The value of your claim
- The complexity of your case
- The strength of your case
- The statute of limitations
How Do Your Injuries Influence the Decision to Settle a Car Accident Claim?
For most injury accident victims, settling out of court with the at-fault party’s insurance company makes good sense, as it provides several benefits:
- You will likely receive your settlement much sooner
- Your legal fees will be lower
- You will avoid the rigors of a civil trial
Even if it means accepting a lower settlement amount than your initial demand, most accident victims benefit overall from settling their case out of court.
If your injuries will require ongoing medical treatment or ongoing care, you may prefer to wait to settle your case. Otherwise, you may not recover enough money to pay for your future medical bills. However, if your injuries prevent you from working, you may need your settlement sooner than later, to help cover your bills and expenses.
How Does the Value of Your Car Accident Claim Influence a Potential Settlement?
The insurance company has one overarching goal: to minimize their liability and pay out the least possible amount for your claim. The higher your car accident and injury demand, the longer it may take the insurance company to make an acceptable offer for settlement.
Your car accident lawyer can discuss the pros and cons of settling early for a lower amount or waiting for the insurance company to increase the amount of their settlement offer.
How Does the Complexity of Your Case Affect the Decision to Accept a Personal Injury Settlement?
The more complex your car accident personal injury case, the longer a trial can take. Your car accident lawyer must present the elements of your case to prove the at-fault party’s liability. If the elements are complex, this can take time. A personal injury attorney will fight to ensure a favorable settlement, even if your case is complex.
How Does the Strength of Your Car Accident Case Influence the Choice to Settle?
If your case is strong, with clear and persuasive evidence of the at-fault party’s negligence, you may want to hold off on settling. The stronger the case, the more likely the insurance company is to eventually make an acceptable settlement offer. Even if they do not make a strong settlement offer, your lawyer may recommend going to trial if you have a good chance of winning.
How Does the Statute of Limitations Affect a Car Accident Settlement?
In Pennsylvania, you have a limited time to pursue a claim for a personal injury settlement. If you fail to file legal action within the prescribed period, you lose your right to pursue a settlement for your damages.
If the statute of limitations is close to running out, but the at-fault party’s insurance company has not yet made an acceptable settlement offer, your lawyer may recommend filing a lawsuit.
Although the insurance company can still settle with you even after a court filing, taking this step will ensure that you do not lose your legal right to pursue compensation.
How Can a Car Accident Personal Injury Lawyer Help You Know When to Settle?
In addition to having an intimate understanding of the law, your personal injury lawyer understands the details of your case as well as your unique needs and goals. This allows your attorney to help you make the right decision about settling your case.
The personal injury lawyers of Cordisco & Saile LLC understand the challenges you face as you wait to receive compensation for your injuries and other losses. Our car accident lawyers can navigate the complex legal aspects of your case on your behalf. They will also help you make the best possible decision about when to settle your case.
Contact us today at 215-642-2335 for a free consultation.