What is a Settlement?

A settlement is an agreement reached between a plaintiff and a defendant outside of the courtroom. In many cases, the defendant’s insurance company agrees to pay the plaintiff a larger sum of money than initially offered to resolve the claim. Settlements are often preferred over trials because trials carry the risk of the plaintiff receiving nothing if the court rules against them.

After an accident, it is essential to secure fair compensation for your damages or, in some cases, prepare to address a claim against you. Understanding the settlement process can help you decide whether to accept a settlement or proceed to court. Regardless of your choice, an experienced attorney can guide you every step of the way.

When Do Settlements Occur?

Settlements can happen at various stages of a lawsuit—often before the court reaches a final decision. Common points in the process for settlements include:

• Before a lawsuit is filed: During initial negotiations with the insurance company, parties may reach a settlement before any formal legal action is taken.
• Before the trial begins: This is the most common time for settlements to occur, as both sides try to avoid the costs and risks of a trial.
• During the trial: Even after a trial starts, settlements may still be reached if one party sees the trial taking an unfavorable direction.
• During jury deliberation: In rare cases, settlements happen while the jury is deliberating, as both parties may want to avoid the uncertainty of a verdict.

However, once a jury reaches a verdict and the judge rules on the case, it is no longer possible to settle. At this point, the court’s decision becomes legally binding.

Why Are Settlements So Common?

Most personal injury cases, such as car accidents, slip and falls, or product liability claims, result in settlements rather than going to trial. This trend occurs for several reasons:

• Insurance companies prefer predictability: Insurance companies aim to control risks and costs. Settling cases allows them to avoid the unpredictability and expense of a trial.
• Settlements are private: Unlike court verdicts, which become part of the public record, settlements can remain confidential. This privacy is often appealing to companies trying to protect their reputation.
• Victims often prefer quicker resolutions: Trials can be lengthy, stressful, and expensive. Many accident victims opt for settlements to receive financial recovery sooner without enduring a prolonged legal battle.

Should You Settle Your Case?

Settlements are not inherently good or bad. While some settlement offers are fair and reasonable, others may be lowball attempts by the insurance company to resolve your case quickly and cheaply. An experienced personal injury attorney can help you evaluate whether a settlement offer is worth accepting.

When assessing a settlement offer, your attorney will consider factors such as:

• The strength of your case: How compelling is the evidence that supports your claim?
• Jury sympathy: Would a jury likely side with you based on the circumstances of your injury?
• Potential defenses: Does the defendant have strong counterarguments, such as a pre-existing condition?
• Jurisdiction: Does the court where your case will be heard have a history of awarding significant verdicts in cases like yours?
• Costs vs. benefits: Is the settlement offer close to what you are seeking, or would going to trial be more expensive than accepting the offer?

Each case is unique, and two identical settlement offers might be viewed differently depending on the specific details of the case. This is why having an experienced lawyer who understands personal injury law in Connecticut is so crucial.

Get Help From Bert McDowell Injury Law

If you have been injured in an accident, you don’t have to face the legal process alone. Bert McDowell Injury Law is here to help. With years of experience serving clients across Connecticut, we are dedicated to fighting for the compensation you deserve.

Call us today at 475-231-3274 for a free consultation. Let us guide you through the settlement process and help you make the best decision for your case.