How Verdicts Help to Define Settlement Values
When personal injury cases are filed, there are multiple ways in which they can be handled in order to help the victim seek compensation. The two most common ways are settlements and verdicts. Understanding the difference between these two and how they impact each other is important. Our Philadelphia personal injury attorneys help our clients understand their options before moving forward.
Verdicts vs. Settlements
When someone sustains an injury, the compensation is often sought from the liable party’s insurance company. The company may offer the victim a settlement offer in lieu of forfeiting the right to file a lawsuit. They may attempt to get the victim agree to the settlement as it may be lower than the amount the victim may receive as a verdict.
A verdict means the personal injury case has gone to trial and the victim has proven that the defendant is liable for the injuries sustained. A verdict comes from a trial setting during which the plaintiff and his or her legal team has a chance to bring about evidence, often showing the reckless behavior and whether or not it was intentional. This may incite a higher amount ordered to the victim than a settlement would be.
How Verdicts Influence Settlements
It isn’t always the case, but there are some instances in which the insurance company may use similar case types and the resulting verdicts to determine the amount they would like to offer an injury victim. While it may not be exactly equal in value, it may be closer than it would have been is there were no previous similar instances. The more verdicts there are regarding specific case types, the more basis the insurance company will have for offering a settlement that may deemed fair.
At The Beasley Firm, it is our ultimate goal to help our clients seek the maximum compensation available to them. We understand that this is one of the most difficult times in our clients’ lives and we go the extra mile towards reaching the favorable outcomes our clients deserve. Trust that our Philadelphia personal injury lawyers are here for you.