When Is Settling A Claim In Your Best Interest?

When trying to receive compensation after a personal injury, you probably think your main goal is to win. However, in many cases, settling can be your best bet to receiving the most significant cash settlement versus nothing at all.

If there’s a chance you may receive nothing at all, or the discussions could extend over the course of several years and delay financial compensation, it may be in your best interest to settle your claim.

When Should I Settle A Personal Injury Claim?

In most cases, an insurance company will negotiate with you and your legal team and make a settlement offer that mostly or entirely meets your financial needs. If the insurance company makes an offer to compensate for your injuries, lost wages, and any damages to property, it’s in your best interest to settle.

If you wait and try to fight it in court, you may end up with a smaller settlement than the insurance company initially offered.

Particularly in North Carolina, which enforces contributory negligence, where if your actions helped cause the injury or accident, a court might find you are entitled to no damages.

What Are The Pros Of Settling A Claim?

Settling a claim can provide you with a few critical benefits. First, you likely will receive your settlement money sooner than if you went to trial. If you have expensive medical bills or are out of work because of your injuries, having access to that money more shortly will be helpful.

When you settle a claim, your legal fees will also likely be lower, and you will avoid the long-drawn-out commitment of a trial.

Even if the insurance company offers an amount slightly below what you hoped it could be, receiving the money sooner may greatly benefit you.

What Should I Do If I Need To File A Personal Injury Claim?

If you suffered a personal injury in a car accident, work accident, or another incident with a third party, reach out to Hyland, Padilla, & Fowler immediately. Employing an experienced worker’s compensation attorney to help you negotiate with the insurance company can help you receive the most significant claim possible.

Our firm offers free consultations to help you get your case started right. We can advise you when it’s best to settle and when heading to trial would benefit you.

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