Differences Between Settlements and Jury Verdicts
June 11, 2021
Many personal injury victims do not know claims are often resolved through out-of-court settlements. Those that are not may end up in court. However, there are significant differences between these two options for resolving claims.
Below, Phillips Law Group explains settlements and jury verdicts and the pros and cons of each. If you were injured in an accident caused by another’s negligence, give us a call to see how we may be able to help you. Our firm has obtained hundreds of millions in compensation on behalf of our clients and founding partner Jeff Phillips has served as lead counsel in more than 40 jury trials.
Process of Settling a Claim
When someone suffers an injury because of another’s negligence, the negligent party may be held liable for damages suffered by the victim. If the negligent party has liability insurance, such as car insurance, he or she is likely to use that insurance to cover the victim’s damages. The victim can file a claim for compensation against that insurance to attempt to pay for medical expenses, lost wages and other damages.
After a claim is filed, the victim and his or her Phoenix personal injury attorney can review the damages suffered to determine the value of the claim. Then the attorney can file a demand letter and negotiations can begin. Hopefully, your attorney and the insurance company will reach an agreement on compensation.
It could take several months to reach a settlement. It depends on a variety of factors, such as the amount of time it takes for your injuries to heal or the amount of time it takes for you to reach maximum medical improvement.
While each case is unique, you may simply need to meet with your attorney a few times, go through your medical treatment and wait for a settlement to be reached.
Pros and Cons of Settling a Case
The thought of going to court is often a major stress for injury victims. Fortunately, one of the good things about settling a claim is that there is no need to go to court.
Settlements often come quicker than jury verdicts. That means victims often get compensation much faster than they would have if they had to go through a jury trial.
Agreeing to a settlement guarantees you will receive compensation. If you go to trial, it is likely up to the jury whether you may receive compensation. However, if you go to trial, you may receive more compensation in a jury verdict than you would have from a settlement.
Taking Cases to Court
Most cases do not end up in court, but when they do, it is often for certain reasons. For example, the insurance company may:
- Dispute liability and refuse to offer compensation
- Place partial blame on you for the accident or your injuries
Offer significantly less than what your claim is worth When things like these happen, your lawyer may recommend filing a lawsuit. Once a lawsuit is filed, there are several steps before a trial begins:
- Setting a date
- Assigning a judge to the case
- Pre-trial discovery
- And more
It is important to note it can take quite a long time to get to trial. That means it will take longer for you to receive compensation if the jury rules in your favor.
Generally, the insurance company will agree to a settlement before a case ever makes it to trial. This is usually because insurers do not want to risk additional expenses related to going to court or having to pay out more than a case is worth.
There are many steps and risks associated with going to court, so it is important to have an experienced lawyer at your side throughout the process. You should consider speaking to a lawyer who has experience with cases like yours and has had success in the courtroom.
Have Questions After an Injury? Call Phillips Law Group
You likely will not need to go to court to resolve your claim, but each case is different. It is important to discuss things with an experienced attorney to determine your legal options.
At Phillips Law Group, our licensed attorneys are prepared to go to court if we cannot reach a fair settlement with the insurance company. It is important to have an attorney with courtroom experience representing you. Otherwise, you may not be able to obtain the compensation you need.
Sometimes having an attorney that regularly takes cases to court causes the insurance company to offer more compensation. Sometimes filing a lawsuit is the push that is needed to get the insurance company to make a better offer.
Schedule a free legal consultation today. There are no upfront fees and we do not get paid unless you get paid.
Phillips Law Group. Call 1-800-706-3000 .
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