Accident victims often wonder whether their personal injury claim should be settled or if it is more prudent to pursue justice in a court of law. “The sad truth is too many accident victims accept the insurance company’s first offer assuming it will cover the costs related to the accident” says Richard Schibell. The better approach is to consult with a personal injury attorney to determine if it is sensible to accept the offer, make a counter-offer or take the litigation route. Let’s take a look at some of the most commonly asked questions regarding personal injury claim settlements.
How do insurance companies determine how much to offer?
Insurance companies employ an approach similar to that of attorneys in that they have an adjuster analyze the personal injury claim in-depth. This professional considers an array of factors to gauge the compensation owed. Everything from medical expenses that determine the aggregate cost of treatment across posterity to the police report detailing fault for the accident, prior injuries and medical records matter a great deal. The adjuster determines the likelihood of winning at trial and the level of compensation awarded. This professional also attempts to determine if the victimized party is partially responsible for the accident. If it is determined fault exists, the percentage of the fault is reduced from the settlement amount.
When should I file my claim?
Time is of the essence after an accident. Reach out to your insurer immediately after the accident to file a personal injury claim. New Jersey’s statute of limitations to seek compensation by way of a personal injury lawsuit is a mere two years. Though victims are provided with two full years from the accident date to serve the lawsuit against the at-fault individual, the claim should be filed as soon as possible. Insurance providers typically have internal deadlines to meet. Furthermore, there are a number of factors to consider following an accident that will chew up your time. Everything from meeting with a personal injury lawyer to go over the details of your claim to obtaining the necessary medical treatment will take time. Be mindful of the forementioned statute of limitations and act within this time frame. Otherwise, you won’t recover any compensation for the claim.
Why does settling make more sense than filing a lawsuit?
There are a number of advantages to settling instead of pursuing compensation in a court of law. Settling a claim is advantageous as it is more affordable than pursuing litigation. The typical trial is egregiously expensive in comparison to the settlement negotiation process. Furthermore, it might be necessary to pay for an expert witness to testify in court. All of the litigation costs will be subtracted from the reward.
Settling your claim also makes sense as it is comparably fast. Most people do not want to wait for a trial to be completed in order to receive their payout. Furthermore, there is no guarantee the jury will provide a favorable ruling. In fact, the jury might even determine fault is shared amongst both parties. Trials tend to be more unpredictable than settlements. Opt for a settlement and you will rest easy knowing your payout was carefully calculated based on your unique injuries. A settlement is quick while trials have the potential to take months. If an appeal is filed, this process will take even longer. Perhaps the best reason to opt for a settlement is the fact that it is less stressful than litigation. Trials are nerve-wracking events in which highly-intelligent attorneys aggressively argue on behalf of their clients. The defense attorney might even request private medical data, question the victim’s credibility or launch an attack through cross-examination.
Why is an attorney necessary to settle a personal injury claim?
Though it is unnecessary to pay for an attorney’s assistance, there are some benefits of hiring a legal representative. Lean on a personal injury attorney following this unfortunate incident and you can rest easy in anticipation of a settlement offer. Your personal injury attorney will collect evidence, create the demand package provided to the insurance company, handle communications to prevent a verbal misstep and fiercely negotiate on your behalf. This legal practitioner’s in-depth understanding of New Jersey’s unique negligence laws, comparative negligence law and statute of limitations will prove invaluable to complying with court rules, proving fault and establishing a causal relationship between the accident and your injuries. Your attorney’s mission is to maximize your settlement so you can move on to a new chapter in your life.
Contact Our Legal Team for a No-cost Consultation
If another person’s negligence is even partially responsible for your injury, you will need the assistance of a savvy personal injury attorney such as Richard Schibell. Our personal injury team is here to help with each stage of the personal injury claim process. Most importantly, our years of experience qualifies us to accurately evaluate the value of your personal injury claim and negotiate until you are provided with the money you need and deserve. Reach out to us today to find out more about how we can maximize your personal injury settlement.
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source http://richardschibell.com/personal-injury-claim-settlement-faq/
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