Don’t accept an accident settlement before gauging these factors

| Jul 17, 2020 | Personal Injury, Settlement |

A car accident can leave you struggling to get by. If you’re like most car wreck victims, then you’re trying to find a way to deal with your physical pain and newfound limitations while your medical expenses continue to mount. You might also need extensive rehabilitation that can be costly during a time when you’re unable to work on account of your injuries. All of this can take quite an emotional toll, too. So, feeling overwhelmed under these circumstances is completely normal.

On account of these stressors, you might be looking for the easiest and quickest way to move past your accident so that you can focus on your recovery and getting back to your normal life. If your accident was someone else’s fault, then you might already be receiving settlement offers from the driver who hit you and/or his insurance company. While it might be tempting to latch onto one of these offers simply to get some money in your pocket and put the matter behind you, you need to recognize that these parties don’t have your best interests at heart. Therefore, their initial offer is usually aimed at minimizing costs on their end and escaping liability as much as possible. In other words, they’re often looking to dupe you into taking something that is far less than what you deserve.

So don’t be to quick to accept an offer that puts your legal claim to rest unless you know that the offer is sufficient. To better determine this, consider these factors:

  • How much time and effort are you willing to put into litigation? Taking a case to trial can be financially beneficial, but it can also drag out and cause a lot of stress. Think carefully about how much time and effort you’re willing to expend to take your case to trial while also recognizing that trials can be risky. Additionally, the potential recovery from a successful trial might not be much larger than an offered settlement. It just depends on the circumstances at hand.
  • Know the strengths and weaknesses of your case. This is the best way to determine just how risky it is to take your case to trial. To adequately do this you’ll need to have a keen legal eye to spot evidentiary issues and a strong understanding of the facts in light of applicable law. You’ll also need an understanding of how judges and juries act and respond to certain types of evidence and the strengths and weaknesses of your opponents case.
  • Understand the value of your case. You don’t know if a settlement offer is appropriate unless you know how much your case is worth. So you’ll want to have solid calculations of your losses backed by evidence. It’s also helpful to know how much juries tend to think these types of cases are worth.
  • What is the extent of resources available to you? There may be limits on the insurance policy held by the driver who hit you, and he or she might not have a lot of money to pay out a judgment. When this is the case, you’ll want to consider whether it’s worth your time and effort to proceed with trial, especially if you won’t be able to recover the damages you’re seeking.

Dealing with the effects of a car accident can be challenging to say the least. If you’re finding that out the hard way, then you know that there’s a lot more to contend with than legal matters. That’s why it’s often beneficial to discuss these matters with an attorney who is experienced in this field. By doing so, you might get an advocate on your side to help you fight for what you deserve.

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