It’s normal to want to move on past a truck accident as quickly as possible, especially if you’ve suffered injuries and simply want to focus on your recovery. If your truck accident was caused by the negligence of another, then you might get that opportunity, too, in the form of a settlement offer. These offers seek to give you compensation for your damages in exchange for foregoing trial. It can provide a quick resolution, but is it your best option?
Factors to consider when assessing a settlement offer
Before accepting or denying a settlement offer, you should take a number of things into account. Each of the following can be pivotal to your case and need a close look to ensure that you’re making a decision that is best for you:
- Strength of your evidence: Of course, the stronger your evidence, the more likely you are to succeed at trial, which could mean recovering more compensation than offered in settlement. Strong evidence also gives you more leverage at the negotiation table.
- Weaknesses in your case: If you’ve got glaring holes in your case, then you might need to look more closely at your settlement offer because you’ll know that going to trial will be risky.
- The value of your claim: You really can’t tell if a settlement offer is appropriate if you don’t know what your case is worth. That means that in order to be prepared, you need to calculate all of your damages, including lost wages, medical expenses, and pain and suffering.
- How have similar cases played out: Looking at cases with similar facts can provide insight into how a jury might view your claim. Again, this is a great tactic to help you better determine how much risk is involved with going to trial.
Get help analyzing your case
Figuring out whether to take a settlement offer requires a thorough cost-benefit analysis. This can be a tricky thing to do, especially for those who are unfamiliar with the legal arena. If you think that’s it be helpful to have some assistance with these matters, then it might be time to sit down with an attorney who can provide you with an open and honest assessment of your case.