If you’ve recently been injured, whether due to a car accident or another incident that was not your fault, you may face the dilemma of deciding whether to bring a personal injury claim settlement to court or settle it out of court with the opposing party.
It’s an important decision that comes with upsides and downsides.
On one hand, settling out of court is usually quicker than going through legal proceedings, which can take a long time. But on the other hand, if you agree to a figure too quickly under pressure from insurance companies, there’s no guarantee you won’t be underestimating what is owed as compensation for your suffering.
This blog post discusses the pros and cons of settling your case out of court.
- Pro: Settlements typically conclude faster than court trials, providing a quicker resolution to your case.
- Why: Avoiding court proceedings accelerates compensation, addressing immediate financial needs.
- Pro: Settling out of court is often more cost-effective than going to trial.
- Pro: Settlements are private, and details of the agreement need not be disclosed publicly.
- Why: Maintaining privacy can be crucial for individuals who prefer to keep their matters confidential.
- Pro: Settlements allow parties to have more control over the outcome.
- Why: Predictability in the outcome provides security and allows for better planning.
- Pro: Avoiding court appearances and the stress of a trial can benefit the emotional well-being of all parties involved.
- Why: Settling out of court may lead to a less adversarial and more amicable resolution.
Cons of Settling Your Personal Injury Claim Out of Court
- Con: Settlements may result in lower compensation than a successful court judgment.
- Why: Insurance companies may offer less than what a court might award after a trial, as they tend to ignore your non-economic losses.
- Con: You generally cannot pursue additional legal action once a settlement is accepted.
- Why: Accepting a settlement closes the case, even if future complications arise.
- Con: Settlements need more public accountability and the precedent-setting impact of court decisions.
- Why: Court judgments can set legal standards and influence future cases.
- Con: There’s a risk of accepting terms outside your best interest.
- Why: Without the guidance of legal professionals, you may agree to terms that do not adequately address your needs.
- Con: Settlements depend on the cooperation of both parties.
- Why: If the other party is unwilling to negotiate fairly, settling may be challenging.
In conclusion, settling your personal injury claim out of court is not a one size fits all solution. It depends on your circumstances and the agreeable terms both sides can agree upon. Moving cases to litigation can be a lengthy process, and it may not even yield greater financial settlements than what could have been achieved out of court.
No matter what you decide is best for your case, ensure you do adequate research and keep track of all negotiations and communications with insurance providers. Above all else, if an attorney is involved in any capacity, ask for their expertise every step of the way. Hiring experienced personal injury lawyers will go a long way in guaranteeing that your case will be handled in the best possible way, permitting an equitable settlement for both you and the other party involved.