Statistics indicate that up to 95% of personal injury lawsuits, including car accident cases, will settle before trial. There are a variety of reasons that these cases will resolve before trial, and a lot of them have to do with the insurance company involved.
Getting a fair settlement requires a thorough understanding of what your case is worth if it did go to trial. Only insurance companies and experienced Miami car accident attorneys will have that type of information. There are several benefits of settling, for both victims and insurance companies. These may all be reasons that car accident cases are far more likely to settle than be tried in front of a jury or judge.
Going all the way to trial is expensive, and insurance companies want to save money. Settling with you now, instead of preparing for court saves them money in costs and attorneys fees. Paying ahead of time also limits their exposure for serious losses. Setting for a certain sum now means that they can control or restrict the money that is provided to you in a way that they cannot do at trial.
By giving you a settlement now, insurance companies take power away from a jury or judge to determine what your case is worth. Juries can award more than what the insurance company thinks a claim is worth. However, they can also give you significantly less, too. You always run the risk of getting nothing if you take your case to a jury. At least by settling you know that you guaranteed to get some amount of damages out of your clam.
When you, your attorney, and the insurance company reach an agreement, you avoid the significant time and effort that is involved in preparing a case for trial. Trials may not be scheduled for several months or even years into the future, and they can get continued for various reasons that are often beyond your attorney’s control. Settling today means getting your money faster and without all of the hassle of waiting for trial.
Some car accident victims are so distraught because of the accident that the thought of having to tell strangers about the incident in public can be very stressful. This is particularly true in severe cases or situations that involve children. As a victim, settling with an insurance company ahead of trial allows you to avoid having to relive the accident.
The short answer is probably not. However, that does not mean that you should jump at just any settlement number that is offered to you. Car accident attorneys always prepare a case as if it is going to trial. That helps them realize what the claim is worth and what a realistic settlement number may be.
The experienced Miami car accident lawyers at Neufeld, Kleinberg & Pinkiert, PA will only suggest settlement if it is based on a fair number and it is in your best interests. If you have been injured in a car accident, give us a call. We can walk you through your next steps.