What is a Personal Injury Settlement?

What is a Personal Injury Settlement?

 

When you have suffered a personal injury after being involved in a car accident or some other type of accident that was not your fault, it’s common to hear about a personal injury settlement. Most claims following an accident are resolved before they even reach the civil court. Usually, prior to any litigation process, a case is negotiated through a settlement. In some cases, there may be an informal settlement reached before a personal injury lawsuit is even filed.

 

What Happens When the Parties Reach a Settlement?

When there is a personal injury settlement reached between the parties after an accident, each party agrees to give up the right to pursue further legal action. The monetary amount they have agreed on puts an end to any further action in relation to the accident in question, whether the money comes from the individual at fault for the accident or their insurance company.

It’s important to speak with an experienced personal injury attorney if you have been involved in an accident that left you injured. If you are considering a settlement offer, your lawyer can counsel you and advise on which direction might be in your best interest. When you meet with an attorney, there are certain things you should discuss.

 

What Should You Discuss with an Attorney Regarding a Potential Case and Settlement?

One of the first aspects of the case you should discuss is its strength. These are the points should you consider and discuss with your attorney:

  • Verdicts juries reach in similar cases and the settlement options of such cases
  • What are your chances of winning if you take your case to trial?
  • The typical difficulties you may face in trying the case
  • What are the strengths and weaknesses of your evidence in the case?
  • What are the strengths and weaknesses of the evidence held by the defendant?
  • What are the expected monetary damages your case may be worth and does your lawyer think you can receive damages if you take your case to trial?
  • What is the minimum amount you would be willing to accept to avoid going to trial?
  • What are the policy limits of the defendant’s insurance coverage?
  • What monetary resources does the defendant possess?

 

How Is a Personal Injury Settlement Reached?

Usually, a personal injury settlement is reached through the defendant’s attorney or insurance company. The plaintiff and their attorney agree to the offer and then agree not to pursue a case for damages. In general, a settlement amount is determined between the parties, usually through their lawyers, about what they think the case is worth monetarily. Usually, this is accomplished by taking a look at similar cases and seeing what juries awarded plaintiffs in the past, as well as taking into account special circumstances that might be present.

After both sides have decided on an estimate of a reasonable settlement amount, there will be settlement offers going back and forth. Sometimes, the defense will offer considerably less money than the plaintiff deserves, which is why it’s important to have an attorney.

Never take a personal injury lightly. If you want to receive compensation for your medical expenses and additional damages, be sure to hire an experienced personal injury attorney  such as the such as a personal injury attorney Las Vegas, NV residents trust. Whether you get a satisfactory settlement or decide to take your case to trial, it is to your biggest advantage toward receiving compensation.

Nadia Von Magdenko Attorney at accident law Las Vegas Thanks to authors at Nadia Von Magdenko for their insight into Personal Injury Law.

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