In car accident litigation, some cases are settled pre-suit and some cases are settled prior to trial, but 95% of all accident cases nationwide are ultimately settled. The cases that do not go to trial and are not settled are generally the ones where one side has made a miscalculation on the facts of the accident or the damages sustained.
If no settlement is offered, then going to trial is the plaintiff’s only option. When someone is found comparatively at fault, their damages will be reduced, with the outside chance that they could lose the case outright. That is where an experienced car accident lawyer is valuable because they have handled so many of these settlement claims in the past.
When it comes to accepting or rejecting a settlement offer, plaintiffs need to balance their desire for more compensation with the possibility that they may end up with less if they move to trial. A lawyer can offer advice, but the decision of whether or not to settle is up to the client. Alternatively, if the insurance company is agreeable to what the injured person wants, that is called the compromise and settlement.
Under Louisiana law, an insurance company is required to fund an agreed-upon settlement within 30 days of a written agreement.
A person may have a case, with significant damages and ongoing treatment, but the defendant may have limited insurance or an inability to pay the kind of money necessary in a significant damages case. Our recommendation is the injured person should not consider entering car accident settlement negotiations until we determine what their injuries are and whether the defendant has the ability to pay.
There might be a quick settlement on auto collision cases where the damages are significant, but someone with ongoing medical problems may not want to settle when they do not know the true extent of their damages.
Ultimately, the injured party must rely on his treating physician’s opinions on how long the medical problems will last, future medical needs, how it will affect their ability to work, and whether they can go back to earning the same amount of money.
The acceptance of an insurance settlement will come down to the plaintiff and whether they have reached a point where they feel comfortable putting the claim behind them. If they are experiencing a disability, such as a TBI or paralysis, and their doctors are anticipating many years’ worth of new expenses, there will be more pressure to achieve a full settlement.
Settling a car accident injury claim is not something you should do alone. Retain one of our experienced lawyers to discuss the best options for you.
