A lot of car accident victims are hesitant about contacting an attorney thinking they must appear in court to secure compensation for the damages they have sustained. Although some car accident cases end up in court, the majority are resolved through a claim settlement. Settling a case instead of going to trial has many benefits. And a skilled attorney like John Foy can discuss these with a victim.
What are Car Accident Claim Settlements
Settlements are legally binding agreements reached by the parties involved in injury claims. In a settlement, the liable agrees to pay compensation to the victim while the latter agrees not to file claims in the future over the same injury. Often, parties reached a settlement after the parties negotiate.
The negotiation process starts when the lawyer of the victim sends a demand letter detailing the amount of compensation that victim wants to be paid and why this amount is reasonable enough as compensation. This letter is given to the insurance company of the liable party. Once the insurer receives this letter, it then makes a counteroffer. Both parties may be involved in back-and-forth negotiations before they can reach a settlement.
Usually, the parties involved in a car accident agree to settle their case before one of them files a lawsuit. But sometimes, the insurer refuses to settle the case. In this case, the victim can file a lawsuit in court to pursue the compensation they are entitled to.
Benefits of Settling a Case
Settling a car accident case allows the victim and their layer to have control over the negotiation process. If the victim does not find a settlement offer reasonable, they can reject it, and give a counteroffer. Meanwhile, trials in court can be unpredictable. For instance, the judge might not include certain evidence or the witness may give an unclear testimony.
Moreover, settling a case outside of court is faster. A trial can take months or even years to be concluded. And even if the victim gets a favorable outcome, the insurer of the negligent driver might appeal the case, dragging out the process even longer. If you settle your case with the other party, an appeal does not happen. Once a settlement is signed, the situation gets resolved and you can start receiving checks. Lastly, settling a car accident case without going to court is less costly than a court trial. Going to court means dealing with different costs and expenses.