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Factors to Consider Before Accepting a Settlement Offer

Once you’ve made an insurance claim or filed a lawsuit related to the injuries that you’ve suffered from because of a recent accident, it’s likely that you’ll eventually receive a settlement offer from the insurance company in question. Depending on how extensive your injuries were, this settlement offer can award you tens of thousands of dollars. However, there are times when it would be in your best interest to decline the offer and go forward with a lawsuit. When you sit down with personal injury attorneys, there are several things you should discuss about the settlement offer.

General Case Strength

When discussing a settlement offer with your attorney, the choice of whether you pursue a lawsuit depends mainly on your case strength. Your lawyer should be able to answer your questions about such factors as the settlement outcomes and verdicts of similar cases, the strength of the opponent’s evidence, the strength of your evidence, the chances that you have of winning the trial, and the difficulties of trying such a case.

Standard Concerns

One of the more notable concerns that you should speak about with your lawyer involves the discovery process. When a case goes to trial, the discovery process means that your personal information would be combed into, which you might be reticent about. You should also inquire about how long such trials typically last and what the negotiation tactics are of the opposing lawyer. Knowing this information beforehand will help you determine if you should accept the settlement offer.

Money and Potential Damages

A large component of deciding whether to accept a settlement offer involves the money and potential damages that are tied to the case. Make sure that you’re fully aware of the trial expenses that you’ll owe if the case goes before a judge. Your lawyer should also be able to determine what you should be able to obtain in damages from a successful trial. If the money is much more than the settlement offer, it may be wise to file a lawsuit.