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Don’t accept a settlement without considering these four things

On Behalf of | Apr 7, 2022 | Motor Vehicle Accidents

Most people who have been injured in a car accident need financial relief, and they need it fast. After all, medical bills can quickly come due, and lost wages can make it hard to raise your family and make ends meet.

While a personal injury lawsuit can be a promising way to recover the compensation that you need and deserve, you have to take care to ensure that you’re protecting your claim and your interests as fully as possible. This means that you have to fully vet any settlement offers that an insurance company pushes your way. Although it may be tempting to quickly snatch up one of these agreements, doing so could leave you with a recovery that is less than you otherwise could have received.

When isn’t a settlement appropriate for you?

Only you can fully answer this question, but we can give you some things to consider as you navigate your case. This information shouldn’t be taken as legal advice, though, as you can only achieve the full guidance best applicable to your situation after consulting with an experienced personal injury attorney. With that in mind, let’s look at those considerations:

  • The strength of your evidence: A lot of settlement offers are made in an attempt to reduce risk. This means that the insurance company or the party responsible for the accident is worried that it could lose even more money if it goes to trial. So, if you have strong evidence to demonstrate liability and the full extent of your damages, then accepting a settlement offer may not be in your best interests, especially if that settlement offer is far less than your damages require.
  • Your immediate needs: A lot of personal injury case resolution is also driven by need. Accident victims oftentimes need a quick infusion of cash just to make sure that they can keep a roof over their head, food on the table, and medical treatment. While there may be financing options available to help bridge the gap until you resolve your case, those options can prove expensive. So, you’ll want to ask yourself how long you’re willing to wait to recover compensation for your accident damages. If you can hold out, then going to trial may be best for you.
  • How much stress can you handle: Dealing with the legalities of a personal injury lawsuit can be stressful. Although an attorney can help shoulder much of the burden on your behalf, you’re probably already feeling the pressure. So, as you analyze a settlement offer, you should consider how much more stress you’re willing to undertake in order to reach the true outcome that you deserve.
  • Your willingness to take risks: Although insurance companies try to resolve cases to reduce risk, there are risks on your end, too. If you refuse a settlement offer and take your case to trial, then there’s always the chance that you could lose your case or end up recovering an amount that is less than was initially offered to you. So, talk through the risks with your attorney so that you can make the informed decision that is right for you.

Educate yourself to make decisions that support your best interests

We know that there’s a lot to take into account as you navigate your personal injury case. It can be stressful and overwhelming, and you may even feel like the future is bleak. But this isn’t the case. By securing the assistance of an experienced Brooklyn personal injury attorney, you can obtain the information, guidance, and advocacy that you need to develop the legal strategy that positions you as strongly as possible for success.