Settlement in legal terms is determining or deciding a dispute between a plaintiff and a defendant without a trial.
In a personal injury settlement, both the plaintiff and the defendant agree to an acceptable resolution. The settlement will factor your medical bills, lost pay, pain and suffering, and other losses.
A Settlement Is Often Preferred Over Litigation in Personal Injury Cases
Personal injury cases are often resolved through a settlement. The process for a settlement begins when your personal injury lawyer files a claim against the defendant’s insurance. The type of insurance depends on the circumstances of your personal injury. For example, if you were hurt in a motorcycle accident, you would file against the driver’s auto insurance.
There are several benefits of settling a personal injury case:
- The trial and appeals process can take months or years.
- Trials are expensive for both parties.
- Settlements are private, but trial results are public records.
- Compensation from settlements is usually faster than from a trial verdict.
- Trials can reveal unpleasant or unpopular personal information.
- Damages awarded in a verdict depends on jury reaction.
- Defendants who settle do not have to admit liability.
If your personal injury lawyer cannot reach an acceptable settlement, you have the option of filing a lawsuit provided it is within two years pursuant to Texas statutes.
Personal injury trials can be stressful. If you were injured in an accident and are recuperating at home or in the hospital, you may not feel well enough to go to court. This is a factor for you to consider.
You Do Not Have to Accept the First Offer in a Settlement
Most personal injury lawyers will tell you that insurance companies try to settle a claim as inexpensively as possible. The first offer in a settlement is typically a lowball offer, meaning it is less than the amount sought. You are not compelled to accept a low offer. Negotiations are typically a part of this process.
Settlements Are Legally Binding and Final Resolution
When you agree to a settlement, you give up your right to file a lawsuit or file another claim for the same injury. Some settlements include a non-disclosure policy that prohibits both parties from discussing the details about the case.
That is why you should have a personal injury lawyer review the terms of your settlement. You do not want to sign a legally binding document without understanding the terms and conditions.
A Personal Injury Lawyer Can Pursue a Claim for You
The personal injury lawyers at D. Miller & Associates, PLLC can seek compensation for you. We will negotiate with the insurance company on a contingency basis. If you would like a free case evaluation, please call (713) 850-8600.
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