You may recover on a personal injury claim by settling with the other parties or by going to court: - Going to Court ¿ you rely on a judge or jury to interpret the law to determine who was at fault in your accident and how much should be paid to compensate for your losses. Bringing your case to court, called litigation, requires a lot of work, takes a long time and often costs lots of money. Also, there is no guarantee that the judge or jury will find in your favor or that the award will be as much as you think you deserved.
- Settling ¿ When a case settles, both sides agree to a resolution. Usually, the plaintiff will pay a money award if the defendant will agree not to pursue the matter any further. Settling offers a quick and easy resolution because it does not require the involvement of the court and it is also less risky because the parties know what the outcome will be before they agree to it. The parties can settle at anytime and for any amount.
The advantage to settling is that it is predictable and relatively quick, but, depending on the strength of your case, you may have to compromise on the amount of your award. In contrast, going to court may result in a larger award, but the outcome is not guaranteed and it may be years before you actually see the money. Insurance companies will often try to settle suits as soon as possible because they recognize that settling for a lump sum at the onset of a claim may cost them significantly less money than defending the suit in court. If you consider settling with an insurance company be aware that their business demands that they settle for the least amount possible, not necessarily the most fair amount. Also, you may not know the extent of your loss immediately after an accident, so it is never wise to settle right away. |
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