Pros and Cons of Settling Your Personal Injury Claim
Posted on May 13, 2020 in Personal Injury
Should you agree to a settlement for your personal injury claim? Personal injury settlements allow individuals who have been injured to receive recompense without going to trial.
Statistically, most personal injury cases are settled before they reach a civil court trial. In settlement, both sides negotiate to reach an amicable agreement to resolve the matter between themselves.
A settlement can be reached at any time prior to a jury ruling. Even if the case goes to trial, the parties can still reach a settlement while the jury is still deliberating.
Below, we look at some of the pros and cons of taking a personal injury settlement.
Reasons to Settle Your Personal Injury Claim
In many cases, reaching an amicable settlement is advantageous for both parties. Some of the pros of reaching a personal injury settlement are:
- Ensuring Compensation: With a settlement, both sides get to negotiate a deal which they are happy with. As opposed to leaving it up to a jury to decide the specifics, reaching a settlement leaves the final say in your hands. You’ll know that you are getting compensation and how much.
- Resolve the matter faster: If the case goes to trial, it will be much longer until you get your compensation. With a settlement, you can reach a deal and get paid the money you deserve as soon as possible.
- Save money on your legal fees: Personal injury lawyers fees are based on the amount of work done and the time spent on the case, among other things. With a settlement, you won’t have to worry about continuing to pay attorney and legal fees throughout the course of a trial.
- Insurance companies are often anxious to settle: Similar to the previous point, many insurance companies want to avoid the increased legal expenses of undergoing a trial. For this reason, they are often incentivized to reach a settlement outside of court. An effective personal injury firm can use this as leverage for their client in the negotiation process.
- Privacy: If the case goes to trial, court documents will become public records. Settlement allows individuals to keep the specifics and details of their injuries out of the public sphere.
Cons For Settling Your Injury Case
There’s really only one major disadvantage to settling outside of court: not getting the full compensation you deserve. In settlement, the defendant may not be willing to pay the full amount you need to cover your damages. It could be that you could get more from taking them to trial.
However, as mentioned above, taking them to trial comes with its own risks, like living the decision up to the jury and out of your control.
At the End of the Day, There is No Right Answer
Ultimately, your personal injury attorney should pursue every path in order to get their client the full compensation they are due. Every case is unique. In many instances, an experienced personal injury lawyer will be able to present evidence and negotiate to get the full amount due to their client without going to trial.
However, if the defendant isn’t willing to pay, or the sides cannot reach an agreed-upon settlement, then you will want to take them to court.
Having a capable and effective attorney on your side is most effective way to ensure your success.
Bloom Legal Fights For Our Clients In Personal Injury Cases
At Bloom Legal, we understand the in’s and out’s of building a personal injury case and pursuing a settlement. That’s because we’ve been helping people do it in the greater New Orleans area for over 15 years.
We approach every injury on its own terms, and devise a unique strategy to pursue the full compensation our clients deserve. We will exhaust any and every avenue necessary to ensure that you are taken care of.
If you have been injured due to the negligence of another party, contact Bloom Legal today for a free consultation.