Pros And Cons Of Settling A Personal Injury Claim Out Of Court
A common question injured victims have when pursuing compensation for their damages and losses is, “Should I settle my personal injury claim out of court or should I go to trial?” If you and the insurance company can come to an agreement regarding fair compensation in your case, you can settle your claim out of court.
However, under certain circumstances, it may be advisable to take your case to court to maximize your compensation. Contact a Miami personal injury attorney to discuss the pros and cons of settling a claim out of court in your particular situation.
Pros of Settling a Personal Injury Claim Out of Court
Statistically speaking, about 95% of all personal injury cases are settled out of court before trial. However, it is still a good idea to learn the advantages and disadvantages of settling your personal injury claim out of court.
Let’s talk about the advantages of settling your personal injury case without court involvement:
- You can save money. Taking your personal injury claim can be costly. In addition to filing fees and other court fees, attorney’s fees are higher when a case goes to trial, not to mention that there is a risk of losing your case or receive less money than you hoped for.
- You are guaranteed to get the money. When you accept a settlement offer out of court, you are guaranteed to get compensated for your losses and damages. The same cannot be said about going to court where there is a risk of losing your case and receiving no compensation whatsoever.
- You can save time. Taking your claim to trial is not only expensive but also a time-consuming process. Your personal injury case could take months or even years to resolve. By accepting a settlement out of court, you immediately get access to the much-needed money to pay for your medical treatment and cover your other losses.
- You will reduce stress. Litigation is always very stressful. Taking your claim to trial may not allow you to return to your normal life until your case is resolved. By settling your claim, you can get compensated for your damages and losses faster and without unnecessary stress.
Cons of Settling a Personal Injury Claim Out of Court
Deciding whether or not you should settle your personal injury claim is not easy because there are disadvantages to settling your case out of court. Consider the following cons of settling a claim out of court:
- You lose your right to recover additional compensation. Once you accept a settlement offer, you automatically waive your right to pursue legal action and seek additional compensation stemming from this accident.
- You may receive less money than anticipated. There is no guarantee that you will receive any compensation when a judge rules on a judgment in your case. Even if you win your case, you may receive less money than you could have received had you settled your claim out of court. That is why taking a personal injury case to trial can be a risky endeavor.
Since there are pros and cons to consider before settling your personal injury claim, you should consult with a skilled attorney to discuss your unique situation. Schedule a case review with our attorneys at Pita Weber Del Prado by calling 305-670-2889.