Most accident victims who institute a claim for compensation when they have been injured in car accidents face this situation. The insurance company that has to make the settlement payout makes an offer that seems attractive at first glance.

It’s important to understand that insurance-companies are for-profit organizations that are focused on protecting their own business interests. Hence, any offer that comes from them should be thoroughly discussed and analyzed with an experienced personal injury lawyer before you sign on the dotted line.

Expensive medical treatment, loss of income, difficult to sustain household maintenance and the stress caused by accidents makes people and their families vulnerable. The immediate relief that victims and families get with a swift if meager settlement is undeniable. Court processes can be challenging, unpredictable and lengthy. Many people prefer to “get on with their lives.” Settlement also ensures your privacy and confidentiality as your private matters don’t become a matter of public record. Another reason to prefer settlement is that it’s a fact that 95% of personal injury claims are settled out-of-court. Unless you’re determined to have your “day in court” or it’s a matter of social/ethical/national importance, settlement is a good option.

However, as your personal injury lawyers will advise, the fact that the insurance-company has come forward could mean that it’s a tacit admission of fault. Courts may award very large settlements. If your personal injury lawyer advises, it’s best not to grab the first offer that you get. Negotiation, mediation and arbitration could yield better results.