After a car accident, there are various legal situations that may arise, making it difficult for a plaintiff to endure. One of the things that insurance companies often try to use in order to entice the victim is a settlement offer.
When car accident cases go to trial, the insurance company is often worried about their own bottom line and profits. Trials give victims the opportunity to seek maximum compensation, so for the insurance company, offering a settlement gives them hope of escaping a trial and getting through the situation without paying as much as they should.
Understanding how a settlement works can keep you aware of what to expect. Here’s what you should know about settlements so you know whether it is right for you.
The Process
After an accident, taking action begins and your attorney will discuss the case with the insurance company. Most of the time, this leads to the insurance company offering a specific amount as a settlement to the injured party.
A settlement has two purposes to the insurance company:
- A settlement by the insurance company means they are trying to avoid going to trial. This keeps the insurance company and negligent party out of the public eye.
- A settlement also helps the insurance company protect their own bottom line and pay out less than the injured party deserves.
When the settlement is offered, you as the plaintiff can either accept it and take the payment to get through the process as quickly as possible, or you may go to trial. You may be able to counter the offer, as well, hoping to get more without enduring the trial process.
By having a lawyer on your side, you can better understand whether a settlement is right for you. In some instances, individuals simply want to settle for the amount they need and avoid the long legal process.
In other situations, you may want to go to trial to seek more compensation, as well as hold the negligent party accountable for their actions and seek justice.
At The Matiasic Firm, our San Francisco car accident attorneys are dedicated to helping injury victims do whatever necessary to hold the negligent party liable for the damages they have caused. We aim to protect your rights from start to finish.