The vast majority of personal injury cases never see the inside of a courtroom. Instead, most are settled during the litigation process that comes before a trial. So in this post, we’ll examine all the different aspects of an auto accident injury case settlement.
What is a Settlement?
It is a legal agreement between the plaintiff side (the party filing the suit) and the defendant side (i.e. the insurance company for person deemed at-fault for the accident). In exchange for a specific amount of compensation, the plaintiff agrees to give up the right to pursue any further legal action in connection with the accident or injury.
Why Are Settlements So Common?
Court cases take up a lot of time and monetary resources for both the plaintiff side and the defendant side. Plus, most people do not like the amount of personal information that would potentially be made public during a trial.
Fair settlements, on the other hand, allow the plaintiff to receive his or her just compensation while freeing the insurance company from the possibility of a lengthy, expensive trial.
How Fast Can Settlements Be Made?
They can happen any time after an accident, but there are several factors to consider. Three of the most dangerous aspects are:
- The quick settlement offer: many insurance companies will make a quick offer in the hope the plaintiff agrees without making sure everything is covered.
- The protracted offer: Pennsylvania has a two-year statute of limitations for filing a personal injury case. One strategy insurance companies use is to prolong negotiations with the hope this deadline passes before the case is filed.
- The hardball offer: Many times, insurance companies will make an offer and say there is no room to negotiate. They are banking on the plaintiff’s impatience and unfamiliarity with the legal process.
What Factors Affect the Settlement Amount?
Every case is different, but in general, settlement amounts are dictated by:
- The strength of the case: existing evidence, outcomes of similar cases, the plaintiff’s chance of winning a court case should it get to that level.
- Damages: the monetary amount for the accident; the physical, emotional, and financial burdens afterward; and the quality of this documentation/evidence
- Monetary limitations: the minimum amount the plaintiff is willing to accept; the policy limits of the defendant’s insurance; the defendant’s monetary situation; and previous awards issued by the court.
When to Get Legal Help?
In my 20-plus years of experience, I’ve seen too many accident victims agree to a low settlement amount because they didn’t have legal representation watching out for them. And when they’ve come to me and ask for help, there is very little I can do.
That’s why I urge accident victims to hire an attorney soon after the accident. This way, the victim is protected from signing something that could limit his or her settlement value.
We know the insurance company tactics. We also have proven methods of analyzing the facts and evidence, so your settlement amount is based on the facts that will benefit you the most. So contact us if you’ve been in a Philadelphia-area car accident through no fault of your own. We’ll help you sort through the obstacles and recover all the compensation you deserve.
Also, don’t forget to call (267) 627-4JOE (267-627-4563) or contact us online to request your free copy of my book: The Pennsylvania Car Accident Playbook. It’s the definitive guide on how to handle a car accident. Plus, we will also send you a free In Case of an Accident brochure that can fit nicely into your glove box. It gives you all the cues you need to properly handle a car accident when it happens.
New! Visit our Youtube channel for some advice on how to find out how much your case is worth and how the best personal injury lawyers can settle your case for more.
