Insurance Settlements | Personal Injury Lawyer
What would a personal injury lawyer advise if I’m offered a settlement by the insurance company?
Anytime you or someone you know has been injured, or worse, the desire for revenge can be overwhelming. Contacting a personal injury lawyer is wise before acting on those emotions. There are cases, however, when a settlement is a better option than proceeding to trial. When should you accept a settlement?
First, you must determine your chances of success at trial, both in determining liability and in receiving the amount of damages you think are fair. In some cases, the other party’s fault is clear-cut and indefensible; in others, especially when there are multiple parties involved, liability is murkier. Your personal injury lawyer will advise you on your personal situation.
Assuming your case falls into the murky category, there is a commonly accepted guideline. Subtract the percentage chance your lawyer gives you for succeeding at trial from 100 percent. If the settlement offer is equal to or less than the remaining percentage, you should take the settlement. For example, if your personal injury lawyer estimates that you have a 60 percent chance at trial, you should accept any offer that is 40 percent less than what you want.
Another consideration is the political makeup of the potential jury pool. Like it or not, people have biases. Community bias might affect your result if you are subjected to jurors who may have a different lifestyle or different attitudes from yours. Personal injury lawyers will take this into account when making a recommendation regarding a settlement.
The last consideration is the combination of financial need and overall temperament of the party at fault. Sometimes, large corporations or other entities will simply “wait you out,” filing useless motions and wasting time until you give up.
No matter the situation, it would behoove you to listen carefully to everything your personal injury lawyer says and recommends.
It is important to contact a personal injury lawyer as soon as possible after an incident occurs. To learn more about your legal options, call 661.855.4886 today to schedule a free initial consultation.
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