The Downside to Early Settlement of Personal Injury Cases
Most personal injury cases will settle out of court because people don’t want to wait any longer to get a settlement. Although there are advantages to settlements, it’s important that you speak with your personal injury accident attorney in Bradenton, FL, before agreeing to an early settlement. Settling early isn’t always in your best interest. So, heed the advice of your lawyer and read more below.
Disadvantage #1 – Lower Settlement Amount
It’s no surprise that settling means most plaintiffs in a personal injury case take a lower compensation amount. Just how much lower is what often surprises people. While settling does get you a chunk of money quicker, it’s not always a good idea when you’ve been involved in an accident that causes serious, life-altering injuries. Ask any motorcycle accident attorney in Bradenton what it’s like dealing with catastrophic injuries and you’ll learn that future medical treatment and other costs add up. Most people don’t realize how much money they need to take care of these future costs.
Disadvantage #2 – Security for Your Family
Depending on the extent of your injuries, you may or may not be able to work in the future. In some cases, plaintiffs accept settlements and end up dying from their injuries. Where does this leave their families? If you’re the main breadwinner in your household, it’s important to think about how your injuries really affect your family, not just now but in the long term. An auto accident lawyer in Bradenton, FL can help you look at your case objectively. They can help you see how taking a settlement may or may not play into what you want for your family in the future.
Disadvantage #3 – No Defendant Liability
Some people who are involved in a horrific accident want the defendants to assume responsibility. They want the court to acknowledge that their reckless actions caused harm and future pain and suffering. If you’re seeking punitive damages, settling your case forfeits your right to be awarded monetary damages for pain and suffering. Although Florida has high standards for awarding punitive damages, it doesn’t mean that your Bradenton auto accident attorney won’t be able to successfully argue your case and get the judge to enforce payment.
Disadvantage #4 – Setting Precedence
In most personal injury cases, the goal is to get money from the insurance company, business, or person who caused you harm. However, if your goal is to set a legal precedent with your personal injury lawsuit, then settling sidelines this plan. Often, people who feel their constitutional rights have been violated want the court to acknowledge this wrong -- not only for their case, but for future cases, too. If you want to use your case as a means to an end for changing legal precedence, settling out of court is not in your best interest.
All of the information provided in this article is for informational purposes only. It’s not legal advice and shouldn’t be used to make a definitive decision about settling your court case. Instead, you must speak with your car accident attorney in Bradenton for legal advice and guidance. If you’re at the beginning of the process, contact Erjavec Injury Law to schedule a consultation with a personal injury lawyer.