When you are involved in an accident in Maryland, it can be incredibly overwhelming to navigate. As such, understanding the different steps in this process is critical. Typically, you’ll find that an accident case begins with negotiations between the injury victim and the insurance of the negligent party. If you are offered a settlement by the insurance company, you may be unsure of your rights or if you should accept the offer. The following blog explores what you should know about these matters, including the importance of discussing your case with personal injury attorneys in Baltimore County to explore your legal options during these matters.
What Are the Benefits of a Settlement?
When you are involved in a legal dispute with another party, in this case, a personal injury lawsuit, you’ll find that one of the primary options to close your case is a settlement. Essentially, this means that the parties involved have reached an agreement on the outcome of the matter, which is most commonly a financial resolution, without involving the court. However, you should note that if the defendant in a matter chooses to settle, it does not mean they are admitting guilt.
Settling with the negligent party has many benefits. One of the most important things is that you do not have to appear before a judge and enter a lengthy litigation process. This can help reduce costs, as you do not have to take off work or pay court fees, and prevent stress, as a prolonged legal battle can be incredibly draining.
Another important benefit is that it can help you retain greater control over the outcome. Unlike having a judge determine the outcome, you can work with the other party to determine the most fair outcome based on the circumstances of your case.
What Should I Do if the Insurance Company Makes an Offer?
First and foremost, it’s critical to understand that if the insurance company offers you a settlement offer, it is likely going to be worth significantly less than the true value of your claim. This is because insurance companies understand the financial bind accidents can place victims in, and unfortunately, many accept the first offer because they want to experience some form of relief. Insurance companies can and do take advantage of accident victims, especially those without legal representation, as they may be less familiar with their rights.
Generally, you should never accept the first offer extended to you by the insurance company unless your attorney has stated otherwise. You can counteroffer and continue negotiations with the insurance during these matters.
As you can see, navigating the settlement process with an experienced attorney to provide you with guidance is critical to ensure you can fight for the best possible outcome in these difficult times. At the Law Offices of Markey & Orsi, we understand how devastating a personal injury can be and the impact it can have on your life. That is why our firm is committed to providing you with the best possible legal advice to help you through these difficult times. Contact us today to learn how we can fight for you.