Three Reasons To Say "Yes" To Your Car Accident Settlement

After a car accident, if the insurance company is not willing to pay an amount that completely covers your damages, you may end up having to sue your insurance company. Doing so can be a long and drawn-out process, but often, before your case reaches court, the insurance company will offer you an out-of-court settlement. Should you say "yes" to the settlement offer? Provided your attorney agrees the settlement is fair, in most cases, it is worth accepting. Here's why.

You'll get your money sooner.

Personal injury cases can take years to work through the court system. You may have your first court date scheduled, but chances are good that your case won't be decided upon on that date. If you do not accept the settlement, it may be years before you see any money from your case. In the meantime, you will have to find ways to pay the bills and cover your finances on your own. If you accept the settlement, on the other hand, you'll be able to pay off your accident-related bills and get back on financial track right away.

You won't owe as much in attorney's fees.

Usually, your attorney will agree to accept a portion of the money you win in court as payment. There should also be a stipulation in your contract that specifies an amount owed, if you settle. Since your attorney will not need to do as much work if you settle out of court, you won't need to pay them as much, if you accept the settlement. This can partially account for the fact that the settlement offer is less than the amount you're asking for in the lawsuit. 

The money is guaranteed.

No matter how strong a case you think you have, there is always a chance that the judge will hear your case and decide you are not deserving of the funds you're suing for. It would be disheartening to put all of that time into your case only to walk away with nothing. The settlement, on the other hand, is a sure thing. All you have to do is sign the paper, and the money is yours. No judge can change their mind or find you undeserving.

Accepting a settlement might seem a bit like admitting defeat, but actually it's usually the best way forward, in a car accident case. If the settlement offer is not enough, your lawyer may be able to negotiate, which is still easier than going to court.