Recovering costs you incurred from a car accident can be a complicated process. Not only are you seeking relief for damage to your car, but if the accident is serious, you may also seek compensation for personal injuries. Recovery of these damages may come in the form of a settlement or a verdict after a trial.
Often the at-fault driver’s insurance carrier will contact you quickly and offer a settlement for the car accident. You need to be very careful before accepting an early settlement because you may not appreciate the extent of your damages right after the crash.
Reasons to Accept a Car Accident Settlement
It may seem like a good idea to settle quickly so you can get your money and move on with your life, but you have other options. Insurance companies want to pay as little as possible and close the claim quickly. Before you agree to any settlement, it’s important to gather all the information about your car accident and the full extent of your losses so you can logically evaluate if the settlement is fair. This includes the cost to you financially, physically, and emotionally.
Because making this evaluation can be time consuming and tricky, many people turn to an attorney with experience in car accident settlements to help them evaluate the true cost. Once that research has been done, then you can begin to consider settling. Here are some reasons why a car accident settlement might be the smart choice.
A Settlement Provides Certainty
When two parties agree to a settlement, the case is considered closed. There are no chances for appeal, on the part of the plaintiff or the defendant. A settlement after a car accident provides a level of certainty. Neither party is likely to get everything it wants, but it does allow both sides to negotiate a fair conclusion.
A Settlement Reduce Costs to Both Parties
Going to trial can be a lengthy process and the costs can really add up for both sides. Taking depositions, producing documents, and hiring expert witnesses may mean significant costs. Settling a case brings closure and gets you your money faster.
But a settlement only makes sense if the amount offered in the settlement is reasonable and fair. Often, an insurance carrier may consider whether you and your attorney are prepared to go to trial before offering you a fair settlement value. In evaluating whether to accept a settlement, you should take into account how much more you might recover if the case goes to trial to determine if the settlement offered is fair.
Why Experience Matters
If you decide to hire an attorney, select one licensed to practice law in New Hampshire and with experience in personal injury law. He or she can guide you through the settlement process and give informed advice about whether a settlement is the best choice, or you should consider going to trial.
Our attorneys have years of experience handling personal injury cases, both those that have gone to trial and have settled. For example, we recently represented a man injured when a driver lost control of his vehicle in the snow and crashed into our client’s truck. The case settled for the full amount of insurance coverage available without the need to file suit once we submitted a full accounting of our client’s damages to the insurance carrier.
If you would like to learn more about Upton & Hatfield’s personal injury and accident law group, contact us today. We have a team of skilled attorneys and paralegals who will acquire your medical records, deal with the insurance companies, hire the best experts we can find, and make the process as easy for you as possible.