After a serious accident you probably just want to put the event behind you and move on with your life. The last thing you want is to drag an injury case out for months and months, waiting on a settlement. As the victim of another’s negligence, you have the right to seek damages through a personal injury claim.
Many personal injury cases turn to negotiations and alternative dispute resolutions like mediation to settle out of court. The parties involved work out a resolution without involving a judge or jury. This method of settlement has its pros and cons.
The Benefits of Settling Your Personal Injury Case Out of Court
Out-of-court settlements almost always result in a faster resolution to your case. Unlike a personal injury lawsuit where a judge and jury are involved, an out-of-court settlement is between you, the at-fault party, and your legal teams.
Another benefit of settling out of court is that much of the time taken to prepare a case for trial, which may include depositions and tracking down witnesses, may be unnecessary. This also reduces the expenses involved in a personal injury case.
The reduction in stress and time is also a benefit to consider when seeking an out-of-court settlement. These cases typically resolve much faster than a trial, which means you have less time to worry about your case and can collect your settlement faster.
The Downside of Settling Your Personal Injury Case Out of Court
Negotiation is possible after a settlement offer, but receiving a low, unacceptable settlement offer may still lead you to bring a lawsuit against the party that caused your injuries. By accepting a settlement out of court, you often waive your right to further legal action. This could be a problem if you discover additional injuries in the future that were not present at the time but were caused by the accident.
The most common type of out-of-court settlement is where you file a claim with an insurance company after an accident such as a car crash. Insurance companies want to avoid trial, so they attempt to settle out of court by offering a quick payment for your damages. Unfortunately, this offer doesn’t always account for the full amount of the claimant’s damages.
You should be able to collect a settlement that reflects damages from medical costs, lost wages, and pain and suffering up to the limits of the policy. If you feel the initial offer does not cover these damages, or the policy limits are not enough, a lawsuit and trial may be your only option for fair compensation.
Protect Your Rights During an Out-Of-Court Settlement
We want to make sure you understand the options available to settle your personal injury claim. That’s why attorney D.J. Banovitz offers accident victims in and around Denver a free, no pressure consultation to explore settlement options. Call us at (303) 300-5060 to get honest answers to your questions about the claims process, filing a lawsuit, and alternative dispute resolutions.