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Even though movies and television shows love to dramatize the suspense of a trial, and a final jury verdict, the fact of the matter is that almost 97% of personal injury claims are resolved in settlements, and not jury verdicts.

Resolving a personal injury claim through a settlement has advantages for both sides involved in the dispute (which we will discuss in detail below), but it is important to remember that even though your personally injury claim most likely will be resolved through a settlement of some kind, you and your Morris County personal injury attorney still need to be prepared for a trial. In fact, it is this willingness and preparedness for trial that often causes the insurance company to actually make a fair settlement offer in the first place.

So, with the importance of being prepared for trial in mind, we will discuss the various advantages to both sides in resolving their personal injury dispute through a settlement rather than a jury verdict, and when you should, or shouldn't, resolve your claim by accepting a settlement offer.

The Advantages of Accepting a Settlement for the Injured Party, Parsippany Accident and Injury Lawyer

No matter what type of accident you were involved in which caused your injuries, whether it be a car accident, truck accident, motorcycle accident, an accident with a drunk driver, a construction accident, a slip and fall, or any other kind of accident caused by the reckless or negligent actions of another party, there exists several important benefits for you accepting a settlement offer, rather than pursuing a jury verdict.

Perhaps the most important advantage to you is that you secure the financial compensation you and your family may need in a much more timely manner. Trials can often take months, if not several years, and in this time your medical expenses may be quickly mounting, or your inability to work is causing your family a great deal of stress and financial uncertainty. By accepting a settlement, albeit a fair one, you can much more quickly secure financial compensation for the very real damages you have suffered.

In addition, even if and when a jury ultimately awards you a favorable verdict, that verdict can be appealed in a higher court, increasing the timeline for when you actually receive compensation even further.

Remember, however, that while it can sometimes be important for you to recover compensation in a timely manner, this doesn't mean you should accept an unfair offer. By consulting with an experienced Parsippany injury lawyer, you can get a much clearer picture of when an offer is fair to you, when you should continue to negotiate in the hopes of securing a more favorable settlement offer, and when you should instead seek a trial and jury verdict.

The Advantages of Settling Your Morris County Personal Injury Claim for the Insurance Company

Not only can it be advantageous for you to resolve your personal injury claim through a settlement, it can also be advantageous for the insurance company. Many insurance companies are wary of the volatility of jury verdicts, and find it mathematically more favorable to settle rather than risk a jury award.

Additionally, insurance companies regularly hire large corporate law firms to represent their cases, and corporate lawyers are anything but cheap. By resolving your claim in an expedited manner through a settlement, the insurance company can also avoid the often great expense of paying for legal representation through the entirety of a lengthy trial.

When Should I Accept a Settlement Offer? Roxbury Personal Injury Law Firm

So while there are certainly advantages to both sides in resolving a personal injury claim through a settlement, that doesn't necessarily mean that you should always do so. This is especially true in the case that the settlement offer on the table is only the first offer. As a general rule of thumb, initial settlement offers are almost never fair to the injured party, and most likely will not accurately reflect the full extent of the damages you have suffered.

Before accepting any settlement offer, either an initial offer or a subsequent offer, it is highly recommended that you first speak with an experienced Roxbury, NJ personal injury law firm. An experienced personal injury lawyer will be able to help you to fully assess the extent of the damages you have suffered, and advise you when a settlement offer is either unfair to you and further negotiation is necessary, when a settlement offer properly takes into account your damages, or when a trial and jury verdict may be necessary to securing full and fair compensation.

Contact A Morris County Personal Injury Attorney Today

At The Law Office of Smith and Doran, our personal injury team has extensive experience working with the victims of accident injuries of all kinds, helping them to assess the full extent of the damages they have suffered, and working to secure them the compensation they need and deserve through settlements and trials alike in towns across Morris County, including Parsippany, Randolph, Roxbury, Madison, and Morristown.

When working with our firm, your case will be personally handled by founding partner Robert A. Smith. Robert Smith is a New Jersey Supreme Court Certified Civil Trial Attorney, an elite distinction held by only 2% of the active lawyers in the state. By helping you to prepare for trial, and gathering all of the necessary evidence, testimony, and documents necessary to supporting your claim in the strongest manner possible, Robert Smith and our personal injury team can demonstrate to insurance companies across New Jersey that we are prepared and willing to go trial for you, a fact which can greatly influence the insurance company into making you a fair and accurate offer.

To speak with Robert Smith and our personal injury team today in a free and confidential consultation regarding your accident, the damages you have suffered, and your options for securing full and fair compensation in a personal injury claim, please contact us online, or through our Morristown, NJ office at 973-532-2661.

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Smith & Gaynor, LLC
60 Washington Street, Suite 302
Morristown, NJ 07960

Phone: 973-532-2661
Fax: 973-292-9168
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