Personal Injury Settlement: Is This in Your Best Interest?
If you’ve been victimized by a personal injury, then you probably already know that the first thing you need to do is contact a personal injury lawyer. Many instances, along with certain types of injuries, are time-sensitive. The last thing that you want to occur is to learn that you’re not going to win an award because of missteps on your part.
While you’re going through the process of possibly winning a compensation award, your attorney will discuss your options, regarding a settlement. Settlements allow both parties to avoid trial. If you’d just like to receive your money and go on with your life, then consider the following reasons why settling out of court might work in your favor.
Insurance Companies Prefer to Settle Out of Court
Unless the defendant is in violation of the law, they are carrying some sort of insurance policy that protects their interest in situations such as personal injuries. The defendant will bear the burden of filing a claim against their policy since, in most cases, they won’t have the funds to pay you out of pocket.
When they file an insurance claim, the underwriters will come back with a settlement amount. Insurance carriers know that policyholders will eventually file a claim, but carriers generate revenue through policy premiums, and not by paying out claims. So not only will they want the entire affair to be over with quickly, but they’ll also try to settle for as little money as possible.
Your attorney will advise you on whether taking a low settlement quote is in your best interest, but if you want things to be settled quickly, this might be your best bet.
Trial Is a Burden for All Involved
At first, it might seem thrilling to order your attorney to take the defendant and their insurance team to court, but as your expenses pile up, and as you continue to miss days of work, you might find that going to trial has created an expensive burden.
Getting on With Your life
Your lawyer can discuss all of the options available to you after you experience a personal injury. That said, think about whether accepting a quick settlement is in your best interest. But whatever you do, if you’ve been involved in an incident, then contacting an accident lawyer in Las Vegas is the first thing you should do as soon as you’re physically capable.