When an insurance company or the defendant of a personal injury lawsuit offers to settle your case, should you take the offer or pass? Many auto accident victims in the Sioux Falls, South Dakota area must face this question after suffering a significant injury.
How do accident settlements work?
An adjuster with the insurance company or the defendant in a negligent accident claim offers to pay you outside of court. If you accept the accident settlement, your journey is over, meaning you will get no further payments. If you reject the offer, you may negotiate for more money or continue with your injury claim.
The insurance company or the defendant can offer to settle at any point in your claim. Sometimes, a settlement offer occurs before an auto accident lawsuit begins. Other times, a settlement offer occurs during a trial. Occasionally, settlements can occur after a trial if the jury has not completed its deliberations.
Should victims with severe injuries take a settlement offer?
In the end, this is a personal decision that only you can make. However, it is unwise to make such a critical decision on your own. The benefits of accepting a settlement include avoiding a court battle and avoiding the uncertainty of jury decisions.
With severe or catastrophic injuries, a settlement may not be enough to cover your medical treatment or alleviate the losses auto accidents cause. We suggest taking your case to an injury firm with litigation experience. Having a professional review your case and take charge of either settlement negotiations or a courtroom trial typically ensures a better financial outcome.
Please continue exploring our injury and auto accident web pages for additional insight into maximizing your compensation after an injury.