Following a motor vehicle accident, a slip and fall incident or some other negligence-related accident, you may choose to seek compensation for your injuries and related financial losses. This is done by filing a personal injury claim. Before taking your case to trial, you may receive something called a settlement offer from the insurance company or the party you are filing a claim against. What exactly does this mean, and how should you decide whether to accept the offer? Our Bucks County personal injury lawyer is here to answer these commonly asked questions about settlement offers.
What to Know About Personal Injury Settlements
- What does a settlement entail? – A personal injury settlement is essentially an agreement between the injured party, the insurance company and/or the liable party. In exchange for a monetary sum, the injured party agrees not to pursue a lawsuit in court.
- Why might one choose to accept a settlement offer? – Taking a settlement can be beneficial for the injured party in some cases. By taking the settlement, you avoid having to wait for your case to be resolved in court, which could take months or even years. A settlement can also be a better deal because it guarantees that you get some compensation, whereas you may not if you take the case to trial and lose.
- Why might one choose to reject a settlement offer? – There are a number of reasons why you may decide not to accept a settlement offer. For example, if you and the other party are unable to agree on who is at fault or how the accident happened.
- How should one respond to a settlement offer? – Upon receiving a settlement offer, it is advisable to consult a personal injury lawyer in Bucks County for guidance on how to proceed. They can help you determine whether the settlement offer is fair and whether you should accept or continue to negotiate. If you choose to decline the offer, your attorney will assist you with drafting a demand letter. The purpose of this letter is to tell your side of the story and provide evidence which shows why you are deserving of a larger amount of financial compensation. The letter should also specify a dollar amount you would be willing to accept.
Receiving a personal injury settlement offer can be intimidating if you do not have a legal background. By calling on an experienced Bucks County personal injury attorney for advice, you can rest assured that you are making an informed decision.
Personal Injury? Speak with Gary Heslin of the Heslin Law Firm
In the unfortunate event that you are injured due to another person’s carelessness, the Heslin Law Firm can help you pursue the compensation you rightfully deserve. Known as a reputable personal injury lawyer Bucks County can depend on, Mr. Gary Heslin has more than 30 years of experience defending accident victims. If you would like to discuss your case with a skilled and dedicated attorney, call the Heslin Law Firm at (215) 332-0300 to schedule a free consultation.