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No one can predict what a jury will do in a case, which is why an insurance company and an injured person may settle out of court instead of going to trial. A good settlement is typically one in which the insurance company pays more than they had wanted, and the plaintiff accepts less than they may have wanted.
Different factors and circumstances influence what are deemed fair and reasonable insurance settlements in Indianapolis. Ultimately, an insurance company and an experienced personal injury attorney must come to an agreement to settle a case.
Many factors help determine a fair settlement amount. One of these is liability, meaning how the injury occurred. Others factors include the injuries, any resulting medical treatment, and available insurance policy limits, if it involves a motor vehicle crash.
A settlement takes into consideration the risks and rewards of going to trial, and they can impact both sides in litigation. An injured plaintiff must evaluate the risks versus the potential reward before proceeding to trial. Likewise, the insurance company will evaluate their potential exposure (which would result in risk) versus their chances of prevailing (which would be the reward).
In the end, no one can force two parties to settle a case, and both parties have the right to proceed to a jury trial. When someone is considering going to trial, they should consult a lawyer who has experience with insurance settlements in Indianapolis.
There are certain benefits to accepting a settlement rather than taking a chance at a jury trial. A settlement provides closure with no opportunity for appeal and guarantees the plaintiff receives a definite amount. Settlements are also typically resolved within 30 days of making the agreement after negotiation. While some cases may take slightly longer, once all the paperwork is signed and the insurance company issues the check, the settlement should be finished shortly thereafter.
A jury trial could be months or years down the road and has the possibility of an appeal, which could drag the case out even further.
The strength of the case is the ultimate deciding factor on how much it is worth. The stronger the case, the stronger the bargaining position for insurance settlements in Indianapolis.
Before receiving any settlement, certain steps need to occur. An insurance company will not send a settlement check until the injured party signs a release. A release means the insurance company is accepting responsibilities, and the injured person is agreeing to accept a dollar amount to release the insurance company from all future liability. Promptly signing and returning any paperwork will ensure a prompt settlement payment. An Indianapolis lawyer could help expedite this process and get the settlement amount to the injured party as quickly as possible.
It is possible to settle your claim directly with the insurance company without the involvement of a lawyer, but it is not wise to do so. Insurance adjusters will attempt to take advantage of unrepresented individuals in settling a case. Even after paying an attorney fee, people with legal representation typically receive a larger settlement than if they had done it themselves. Call McCready Law for a free consultation.