Who Determines the Settlement Value of My Case?
Why Should I Consider Settling My Case
Your personal injury attorneys in Costa Mesa have a great deal of experience evaluating cases for settlement. One of the realities of personal injury lawsuits is that the majority of them are settled before trial.
Early settlement of a caseoffers several benefits. One is that the parties avoid the cost, inconvenience, delay, and uncertainty of trying the case in court. In addition, settlement gives you some assurance that the amount you receive will be acceptable. It also provides you with your compensation sooner, since trials may take months, or even years, to complete.
What Is the Process for Setting the Value of the Case?
In order for settlement discussions to be successful, it is important for both parties to understand the value of the case. Your attorneys will help you to understand how your losses should be determined, how other similar cases have settled, and the likely result at trial.
Although you should consider the recommendations of your personal injury attorneys in Costa Mesa carefully, keep in mind that you are the one who ultimately decides whether a settlement is acceptable. You are not obligated to accept a settlement that you consider to be too low or unfair.
What Happens after We Determine the Settlement Range?
When you have determined a settlement range, your attorneys will prepare a demand letter to be sent to the other party and their insurance carrier. The letter will offer to begin settlement discussions and propose a settlement amount. This amount will be higher than the top of your settlement range. Do not expect the insurance company to accept your initial demand.This approach is intended to give room for negotiation.
Why Shouldn’t We Request a Very Large Amount in the Initial Demand?
Making an unrealistically large demand is a common mistake. The insurance company has gone through the same process you and your attorneys followed to determine the probable settlement value of the case. Unless the case is very unusual or complicated, they probably have already decided approximately how much the case should settle for.
Consequently, asking for an unrealistically high figure for settlement will delay or stop the settlement discussions instead of moving them forward. If the insurance company believes that you are not being realistic about the settlement value of your case, it mayrefuse to talk with you or make a counteroffer. Therefore, it is important for the first demand to be reasonable. Because your personal injury attorneys in Costa Mesa are experienced in this area of law, they will be able to help you decide the best amount to include in the demand letter.
Call for Quality Legal Representation
If you have been injured in an accident and need legal assistance, call the personal injury attorneys in Costa Mesa at the Law Offices of Arthur R. Haussmann. We offer complimentary initial consultations. Call today at 949-263-1057.