Why Do so Many Cases End in a Settlement?
By now, you know that if you suffer an injury in a car accident, you deserve to pursue compensation. However, you should also recognize that there are numerous obstacles you may run into when dealing with the insurance company and its legal team.
When you can provide significant evidence during the discovery phase, the odds of your case ending in a settlement can increase. Many car accident cases end before they even make it to trial. Learn why so many cases end in a settlement from the insurance company.
The Excessive Cost of Trial
Insurance companies have one focus: profit. They’re trying to protect their bottom line as much as possible. While this most often comes into play when the insurance company offers a low settlement, it’s also true when they recognize that you have strong evidence.
When the insurance company can see the possibility of a trial resulting in a significant verdict, they’re more likely to offer a favorable settlement. They want to avoid a trial that can cost a substantial amount of money due to court fees, attorney fees, and more.
Insurance companies rely on their reputation to bring in new policyholders. Any negative press can damage how well the insurance provider does, causing fewer people to go through the company for their policies.
If a case threatens the insurance company’s reputation by going to trial, they are more likely to offer a fair settlement. If you accept this settlement, your case ends, and the insurance company’s positive reputation stays intact. You deny the claim, and you threaten the insurance company’s bottom line even further than a settlement would.
Our car accident lawyers at Lowe Law Group recognize how a settlement or trial can benefit you. We investigate your options to determine what suits your needs best. From there, we’ll go the extra mile to prepare your case as needed and guide you through every phase of the process.
Call our firm at (801) 900-4681 today to speak with one of our qualified lawyers.