It’s commonly understood that both parties in any personal injury case want to avoid going to court. Going to court can be costly, time-consuming, and disruptive to your daily life. For these reasons, personal injury cases usually end in settlements; according to the Bureau of Justice Studies, only 3-4% of personal injury cases end up going to trial, rather than settling out-of-court.
With that in mind, receiving word that your personal injury attorney has negotiated a settlement can be a relief. Before you accept a settlement, it might be helpful to know the factors that go into determining the settlement and level of compensation, like how bad the accident was, and whether it is obvious who is at fault.
While this blog covers five factors that could affect your decision to accept a settlement or not, there’s one decision that’s easy to make: hiring an experienced personal injury lawyer like those at Great West Injury Law. Read on to learn more about the settlement process and how we can help.
What Is a Personal Injury Settlement?
A personal injury settlement is an agreement between the injured party and the party responsible for an injury to resolve the claim outside of court. The settlement usually involves a payment of compensation to the injured party in exchange for releasing the defendant from further liability.
Personal injury settlements can be reached through negotiations between just the parties involved and their lawyers or through mediation with a neutral third party. In some cases, settlements can also be reached through arbitration, in which an arbitrator decides the outcome of the case.
5 Factors that Could Affect Your Personal Injury Settlement
A variety of factors can impact your personal injury settlement. Understanding these factors can help you receive the full compensation you deserve.
1. The Severity of Your Injuries
One of the most significant factors that affect personal injury settlements is the severity of your injuries. The more serious your injuries, the more compensation you may be entitled to receive. This includes not only physical injuries but also emotional and mental harm, like your ability to enjoy life after your accident.
An experienced personal injury lawyer like those at Great West Injury Law can assess the full extent of your injuries and ensure that they are properly documented and considered in any settlement negotiations.
2. The Strength of Your Case
A strong case will have clear evidence, a well-documented injury, and eyewitness testimony. Our personal injury lawyers can help you gather and present the necessary evidence to support your case and increase your chances of a successful settlement.
3. The Insurance Company’s Liability
If the insurance company accepts responsibility for the accident, the settlement process can proceed quickly and smoothly; if the insurance company denies or disputes liability, the process may take a while. A personal injury lawyer can help negotiate with the insurance company and ensure that your rights are protected.
4. The Statute of Limitations
The statute of limitations is the time frame within which you must file a personal injury claim. If you miss this deadline, you may be unable to recover compensation for your injuries.
The statute of limitations can vary from state to state and case to case, so it’s important to consult a personal injury lawyer after the accident to ensure that you’re in the clear.
5. The Availability of Damages
Some types of damages, such as pain and suffering, may be more difficult to put a dollar amount on and to prove.
A personal injury lawyer can help you understand the types of damages that may be available in your case, such as lost wages, and ensure that all relevant damages are considered in any settlement negotiations.
Great West Injury Law Is Always Ready.
While avoiding a costly trial is preferable in many situations, we at Great West Injury Law understand that it’s not always possible. To that end, we’re always ready to take your case to court if it means getting the compensation you deserve.
Contact us for a free consultation. We can help you calculate your damages, build your case, negotiate with insurance companies, and earn the compensation you need to get back on your feet.
