Knowing When To Settle Your Personal Injury Case

Approximately 95% (19 out of 20) of personal injury cases are resolved through pre-trial settlements. While this may be good news if you have been involved in an accident, knowing the appropriate time to settle is the challenge. If you settle too early, you may end up incurring future losses that you will never be able to recover. Additionally, while settling is an appealing option compared to going to lengthy trial proceedings, it may not be the best route for your situation. In this article, we explore the factors to consider when making this crucial decision.

Understanding What It Means To Settle a Personal Injury Case

Settling a personal injury case means agreeing to resolve a claim out of court by accepting a specific amount of compensation from the at-fault party or their insurance company. Most personal injuries are resolved this way, avoiding a trial’s uncertainty, cost, and time. When you settle, you sign a release form, meaning you forfeit any future claims related to the injury. As such, it is vital to ensure that the settlement offer adequately covers all your current and future needs before you accept it.

Factors To Consider Before Settling

Before settling your personal injury case, consider the following:

Medical Recovery and Future Costs

Never accept a settlement offer before reaching maximum medical improvement (MMI), which refers to the point at which your condition has stabilized, and no further treatment is likely to improve your condition. If you settle before reaching this point, you risk being left under-compensated for future medical expenses or complications.

Impact on Ability To Work

You also need to consider the impact of the injury on your ability to work and ensure that the compensation accounts for the lost income or wages. If your injuries have significantly affected your ability to work, you must ensure that your settlement reflects not only your current losses but also any future income you may no longer be able to earn.

The Strength of Your Case

If you have a strong case, for instance, if the evidence is overwhelmingly in your favor, from indisputable proof of negligence to clear medical documentation, you may consider leveraging this for a higher settlement at trial. However, settling may be a safer option if liability is disputed or the evidence is weak.

Settling Your Personal Injury Case When It Makes Sense To Settle

While each case is unique, and what worked for a close friend may not ideally work for you, several instances make it more sensible to settle. Such instances include:

The Offer Is Fair and Covers All Damages

A fair settlement should cover both economic damages and non-economic damages. If your attorney reviews your damages against the settlement offer and finds the settlement fair, then settling is the best.

Avoiding the Risks of Trial

Trials can be unpredictable, and even with strong evidence, you don’t have a guarantee of a favorable verdict. Trials are also expensive, and if you prefer a less expensive, predictable route, then it makes sense to settle your case.

To Save Time

Personal injury trials can take months or even years to conclude. If you prefer a quicker resolution to move forward with your life, settling may be a better option.

A Charleston Personal Injury Lawyer Can Help

If you’re struggling to decide the right time to settle your personal injury case in SC, contact our  Charleston personal injury attorney at Gus Anastopoulo Law Firm today for legal help.