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Settlements in Car Accident Cases: What You Need to Know

Car accidents. They happen far more often than they should, and individuals deal with the aftermath long after the incident occurs. It’s an unfortunate situation that happens to thousands of people each year, all because some drivers act in a negligent manner.

One thing that people should be aware of, though, is that there are numerous options after suffering an injury to hold the negligent party accountable. There are legal avenues that may be available if you’ve been hurt in a car accident caused by reckless behavior.

In some situations, injured individuals may be able to seek compensation from the responsible party, but there are several factors that must be considered. Here are some of the things you should know about moving forward with legal action and what a settlement can mean for you.

Why Settlements are Offered

From the moment you file a personal injury lawsuit, you’re going to be dealing with the insurance company of the responsible party. Most often, they’re may offer a settlement to you in lieu of going to trial. This is done for a number of reasons.

Settlements are often much less in terms of monetary compensation than what may be recovered in a trial. This means the insurance company is looking out for their own bottom line—their own profit margins—and they know you may have a case but want to avoid the decision going to court.

Settlements offers are also designed to get the plaintiff to avoid trial because in a trial, the negligence and behavior of the defendant—as well as the insurance company—becomes public knowledge. If the insurance company tries to devalue your claim, or place fault on you, this could lead to a bad reputation.

You should know, though, that you have the right to deny the settlement offer if it is deemed insufficient by you and your lawyer. You can either counteroffer the amount or try to move forward with the trial in hopes of seeking maximum compensation.

Are There Any Pros to Settlements?

Before you accept or deny a settlement, you want to ensure that you are speaking with a lawyer to help determine what option is right for you. There may be a reason that you want to seek a settlement rather than going to trial.

There may be a number of reasons, including the following:

  • The settlement offer is enough to cover your expenses and you don’t want to deal with the legal process.
  • The settlement is the quickest way for you to get compensation and you want to get past the situation as quickly as possible.
  • You are content with what is being offered and don’t care about seeking justice.

A settlement is not for everyone, though. In many cases, going to trial is about justice as much as it is about compensation. Some injured individuals feel it is better to hold the negligent party accountable and seek compensation instead of just recovering damages.

Before you go through any communication with the insurance company, make sure you’re represented by an experienced and knowledgeable attorney. An attorney can break down the entire situation for you, giving you the information you need to make the right decision for your situation.

If you’ve been injured because of negligence in a car accident and you need to hire a Chicago car accident lawyer, make sure you do your research. Find a team with extensive experience handling these types of cases and speaking with the insurance company.

At Morici, Figlioli & Associates, we have been fighting for the rights of injured individuals since 1998. We have the track record of success necessary to give you confidence in your car accident case. You can feel peace of mind knowing our accomplished team is standing by your side.

We are committed to your best interests and we work hard to guide you through the process in the most favorable manner.

Call us today at (312) 779-0366 and learn more about how our team may be able to help you seek compensation and justice when it matters most.

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