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Why Should I Settle My Personal Injury Claim?

The Law Office Phillips & Allen PA Nov. 20, 2022

Ultimately, the decision to settle or go to trial is up to you, the client. However, settling your personal injury claim outside of court is often the better and safer choice for multiple reasons. First, taking your claim to court is expensive. Costs such as filing fees, getting expert opinions, doing discovery, and attorney fees add up quickly. Settling your claim outside of court is often a better choice because it is quicker and cheaper. Second, taking your claim to court can be risky no matter how good of a claim you and your attorney feel you have. Juries and even judges can be unpredictable, and you are left with whatever decision a jury or a judge comes up with. On the other hand, settling out of court gives you more control and the ability to accept a fair settlement offer without the risk associated with going to court. Third, going to court is stressful for most people.

The stress of going through the court system and waiting for a final judgment is something that can be avoided by settling out of court. With a settlement, you have a definite recovery that is final and cannot be appealed. However, not every case is suitable for settlement. If you believe the other side is not trying to settle in good faith, then litigation may be a better option for you. Either way, it is important to have a knowledgeable and experienced attorney help you understand your options, fight for your claim, and ensure maximum recovery.

Is There A Minimum Personal Injury Settlement Amount?

There is no set minimum personal injury settlement amount. The amount of your settlement will depend on multiple factors such as the facts of your claim, medical bills, and out of pocket expenses you have incurred as a result of your personal injury claim.

Since there is no minimum settlement amount, insurance adjustors will often try to settle with you right away and typically for a low amount. It is important for you to talk with an attorney before accepting anything from the insurance company. Most attorneys offer free initial consultations that are risk-free so you can understand your options and ensure that you are not being taken advantage of by an insurance company.

Does The Severity Of The Injury I Have Resulting From My Car Accident, Ensure The Likelihood Of A Larger Settlement?

The severity of your injuries often helps ensure a large settlement, but not always. An experienced attorney can review all aspects of a claim in addition to your injuries and medical bills to ensure a larger settlement amount. Settlement amounts also often depend on the insurance coverage policy limits. Handling a claim with an insurance company is a complex and difficult process. A personal injury attorney will not only handle this process for you but can recover a larger settlement for you. Insurance policy limits may also be a factor. Insurance companies will generally not settle above the limits of liability. Underinsured motorist coverage can supplement your claim if the other insurance company cannot cover your claim.

Will All Of My Future Medical Costs Be Taken Into Account For The Settlement Amount After A Car Accident?

It is important to realize that once you accept a settlement offer, the other side cannot be held liable for any other future damages even if they are clearly from the personal injury you suffered. Your settlement amount is for all past present and future damages you have suffered as a result of your injuries. With that said, an experienced personal injury attorney will be able to assess all aspects of your claim and demand payment for every possible injury or expense that you have incurred or are likely to incur in the future. This is another reason why people with personal injury claims should get an attorney. Your attorney can communicate with your doctors and other experts to make sure that your settlement will cover your expected future medical bills resulting from the accident.

Will Preexisting Conditions Impact My Settlement Amount?

Having a preexisting injury might substantially impact the amount of your settlement, but it does not bar you from receiving a fair settlement. An insurance company or the defense will undoubtedly raise the issue of your preexisting condition and claim no liability. This makes it even more important than usual to hire a knowledgeable and experienced personal injury attorney that can convince an insurance company to make a fair settlement or persuade a judge or a jury.

How Are Personal Injury Settlements Paid Out?

Personal Injury settlements are usually paid by a check to you and your attorney. A skilled attorney will make sure that your settlement is structured so that the amount you receive is not subject to Federal or State taxes.

For more information on Settling A Personal Injury Claim In MD, a free initial consultation is your next best step. Get the information and legal answers you are seeking talk Arnold F. Phillips by calling today.