Know From Your Injury Lawyer In Cambridge How To Respond To First Settlement Offers

Most of the personal injury cases are settled out of the court and do not require trials. In fact, all injury lawyers are more focused on preparing for a pre-litigation settlement rather than for trial to obtain a higher settlement. However, you should not jump in to the first settlement offer made to you by the insurance company. Ideally, responding to the first personal injury settlement offer needs a lot of thought and considerations to make sure that what you are being offered is the highest and the best. It is best to consult with an Injury Lawyer in Cambridge to know about the strategies,when you receive an initial response from the other party to your injury claim.

Offer Prior To Claim

In most of the cases, the plaintiff and their Injury Lawyer in Cambridge inform the potential defendant about their intention to file a claim, if they are not compensated for the injuries. In such situations,it is advisable that both plaintiff and the defendant consult with their respective attorneys especially, if the claim amount is substantially high. Both will be better off this way,eliminating the chances of making any unworthy decision. It is best to pay an hourly fee for to the lawyer, for consultation and expert advice rather than pay a huge contingency fee for minimal amount of work.

Who Is Making The Offer

It is also essential to consider who is making the settlement offer, once the complaint has been filed by the Injury Lawyer in Cambridge. Ideally, such offers are made either by the defendant or the insurance company of the defendant. If it is found that the defendant does not have any or have little insurance coverage for the potential liability of the claim, then it is necessary to consider the other alternative funds to pay for the damages if the case is won through trial. This is important to know because little cash or few assets of the defendant will not provide sufficient amount no matter how big the award is.

If Defendant Is Broke

If the settlement offer is made by the defendant that is already broke,then you will not be able to collect much after a trial. In such situation the Injury Lawyer in Cambridge will suggest settling the matter fast and avoid the hassles of trial. This will serve your purpose a little bit but if you are bent to punish the defendant for his or her wrongdoings then you can go for trial. If you win a substantial damage award at the trial,then it may lead the defendant to file for bankruptcy and in turn, it will snowball into long term credit damage.

Having Enough Insurance Cover

When the defendant has enough insurance cover to pay for your claims then the insurance company will usually take charge and control the defense. Though there is no scope of an insurance company to run out of money to pay your claims just like the uninsured defendant, the state “insurance guarantee” funds will cover your claim if the insurance provider goes bankrupt. For more information visit Our Website