Key Takeaways
- The Value of a Settlement Is Difficult to Determine: Determining the value of a settlement is rarely simple. Attorneys evaluate multiple factors when assessing a claim’s value. The facts of the accident, medical records, doctors’ opinions, past and future medical expenses, and lost income all play a role.
- Filing a Lawsuit Does Not Mean You Will Go to Trial: Filing a lawsuit does not automatically mean the case will go all the way to trial. In many situations, claims continue to settle after litigation begins, sometimes even shortly before the trial date.
- An Advantage of a Settlement Is Certainty: One advantage of settling a case is certainty. When a settlement is accepted, the injured person knows exactly what compensation they will receive and can move forward without the stress of a trial.
Many people assume that once an insurance company makes a settlement offer after an accident, the case is essentially over. In reality, deciding whether to accept a settlement or move forward with a lawsuit is one of the most important decisions in any personal injury claim. Attorney-client discussions at this stage often focus on whether the insurance company’s offer truly reflects the value of the injuries, losses, and long-term impact of the accident.
Video Transcript:
What's the difference between a settlement and a trial, and which is better? Should you take the settlement offer or risk filing a lawsuit and going to trial?
These are questions I have and discussions I have with my clients in every single case. In every single personal injury case, we get to the point where we have concluded our settlement negotiations and have obtained the highest settlement amount from the insurance company possible.
And then I have a discussion with our clients and I give them my evaluation as to whether that's a fair settlement offer or whether it's not fair and whether I think that filing a lawsuit and going to trial is actually in their best interest.
There's so many variables that determine what a fair settlement value is. It is based upon the facts of the accident, your medical records, the opinions of your doctors, how much your medical bills are, how much your lost wages are, what your future amount of medical bills are expected to be.
Those are all taken into account to help us determine what a fair settlement offer is. And if the insurance adjuster is unwilling to offer something that is fair, we recommend to our clients to allow us to file a lawsuit on their behalf.
And that gives us the leverage in the case because the last thing the insurance adjuster and insurance company want is to be in front of a jury and having the jury listen to all the injuries and effect that your injuries have had on your life.
There's benefits to a settlement if it's fair enough. You know what you're going to get. And there's benefits of filing a lawsuit and going to trial in your case because we can often get a jury verdict of something far in excess of what the insurance company was ever willing to offer.
There's some risk involved in going to trial. There's really no risk involved in filing a lawsuit. Even once we file a lawsuit, the case can settle at any time from the time we file the lawsuit all the way up to the courthouse steps.
There is some risk involved in going to trial because we never know what a jury's going to do. And the jury could award you less than what the insurance company ever offered. These are all things that we discuss with our clients in every single case.
At that certain point, once the final offer has been made, I always have a discussion with my clients and have a detailed discussion giving them my evaluation of what their case is worth and what my recommendation is.
Whether that recommendation is to settle the case at that point in time voluntarily with the insurance adjuster or to file a lawsuit and head off in the direction of trial.
So, if you have any questions about whether you should settle your case or file a lawsuit and head toward trial, please give me a call at 813-915-1110. I'd be happy to consult with you, walk you through the process, help you evaluate your case, and give you my recommendations as to what you should do.
What is a Settlement?
A settlement occurs when both sides agree to resolve the case without going to trial. In many personal injury claims, attorneys negotiate extensively with insurance adjusters to reach the highest possible offer before considering litigation. Once negotiations reach their peak, the key question becomes whether the offer fairly compensates the injured person for medical bills, lost wages, and the physical and emotional impact of the injury.
Determining what is “fair” is rarely simple. Attorneys evaluate multiple factors when assessing a claim’s value. The facts of the accident, medical records, doctors’ opinions, past and future medical expenses, and lost income all play a role. Long-term effects, such as ongoing treatment or permanent limitations, can also significantly influence the value of a case.
What is a Trial?
Insurance companies, however, often attempt to limit what they pay. Their goal is to resolve claims quickly and for as little as possible. If the insurer refuses to make a reasonable offer, filing a lawsuit can become an important strategy. Litigation places pressure on the insurance company because it opens the door to a jury hearing the evidence and determining the value of the claim.
One advantage of settling a case is certainty. When a settlement is accepted, the injured person knows exactly what compensation they will receive and can move forward without the stress of a trial. Trials, on the other hand, involve more uncertainty. A jury could award significantly more than the insurance company offered, or potentially less.
It’s important to understand that filing a lawsuit does not automatically mean the case will go all the way to trial. In many situations, claims continue to settle after litigation begins, sometimes even shortly before the trial date. The possibility of a jury verdict often motivates insurance companies to reconsider their position.
How an Experienced Personal Injury Attorney Helps
An experienced personal injury attorney from our firm can carefully evaluate whether a settlement offer truly reflects the value of your claim. This includes reviewing medical evidence, calculating financial losses, and considering how the injuries affect a person’s daily life and future.
Your attorney will also handle negotiations with insurance companies, which often rely on tactics designed to minimize payouts. When negotiations stall, filing a lawsuit can create leverage that encourages insurers to offer more reasonable compensation.
If the case ultimately proceeds toward trial, your attorney prepares the evidence, presents the story of the injury clearly, and advocates for fair compensation before a jury.
Take Action Today: Protect Your Rights After an Injury
If you have been injured and received a settlement offer, it’s important to understand all your options before making a final decision. Speaking with an experienced personal injury attorney from our firm can help you evaluate whether the offer is fair or whether pursuing a lawsuit may be in your best interest. A knowledgeable attorney at Hancock Injury Attorneys can guide you through the process and help you make an informed decision about your case.
Call us at 813-915-1110 to schedule your free case consultation with one of our attorneys today.
FAQs
Q: Is settling a personal injury claim better than going to trial?
A: Not always. A settlement offers certainty and faster resolution, but it must be fair. In some cases, going to trial may lead to greater compensation if the insurance company refuses to offer a reasonable amount.
Q: Can my case still settle after a lawsuit is filed?
A: Yes. Many personal injury cases settle after litigation begins. In fact, cases can settle at any stage, even shortly before a trial starts.
Q: What factors determine whether a settlement offer is fair?
A: Attorneys review medical records, medical bills, lost wages, future treatment costs, and how the injury affects your life. The strength of the evidence and liability for the accident also influence value.
Q: Is there risk involved in going to trial?
A: Yes. Jury verdicts are unpredictable, and there is always a possibility that the award could be lower than the insurance company’s offer. This is why attorneys carefully evaluate the risks and discuss them with their clients before proceeding.