It’s human nature to want to collect the highest settlement possible in a personal injury case. Remember that the circumstances of your case play a large role in determining how big your settlement will be. The injuries that you have sustained will also be considered.
Your case may not go to court since 95% of personal injury cases never go to trial. All cases go through the discovery period, where both parties gather as much evidence as possible about both sides of the case before the trial officially begins. You’ll learn much more about the strengths and weaknesses of the other party and vice versa during the discovery period.
Negotiating a Personal Injury Settlement
The normal procedure is to hire an injury attorney in Brampton who writes a demand letter for you and submits that to the other party’s (and sometimes yours) insurance company. The demand letter will list and describe the nature of your accident and injuries. It will also name the amount you want as compensation from the other party.
Some things you would want to be compensated for include bodily injuries, property damage, medical expenses and the cost of medicines, lost wages, pain and suffering, and other related losses. Expect to negotiate before the discovery process begins since the other side and the insurance company will reject your initial monetary demand, claiming it’s too high, and offer a much lower counteroffer. You should reject the counteroffer at all costs since it will be too low. You can get a much higher settlement amount if you just hold out.
The two parties tend to reach a mutual agreement during the negotiations, which tends to occur during the discovery period. It’s then that they agree on if damages should be paid, which party they should be paid to, and how much the amount should be.
The negotiations can be over in a few days or for several years. It depends on the nature of the case and the temperament of both parties involved. It also depends on how much of a settlement the injured party wants from the other party.
Insurance Companies and Settlements
The entity that pays for your injuries and losses is generally the defendant’s insurance company. That insurance company will play a huge role in deciding who will defend the defendant. The insurance company is also responsible for hiring the defendant’s lawyer and approving the settlement agreements.
The insurance company will hire an adjuster upon learning that one of its customers has caused another person bodily injuries and property damages it may be liable for. The adjuster will thoroughly study and investigate your case and decide if you will get a settlement and how much it will be on behalf of the insurer.