There are times when a company will fall all over themselves to settle a lawsuit filed against them, and other times they’ll fight it like a mama bear defending her cub. In our last blog post, we talked about why a company would fight a lawsuit. This one discusses a few reasons a company will settle a lawsuit.
You Met Their Requirements
First of all, understand that insurance companies don’t like to pay out money, and they’ll do everything they can to fight it. So imagine they have a checklist and you have to provide them with proof of everything on that checklist. If you have medical expenses, they will want copies of the records. They will also want proof that your medical expenses are related to the accident. You may need to give them a sworn witness statement from a neutral witness confirming your claim. When it comes to property damage, you have to give insurance companies information on what your car was worth, what the mileage was, and satisfactory proof of loss. That’s the only time they’re going to pay. Until you provide them with all of that proof, they’re not going to offer you serious money. Once you’ve got all that proof nailed down, they are more likely to settle. Sometimes, when they’re dragging their feet, if they receive a letter or the threat of a lawsuit from a personal injury attorney, they may be willing to settle, because they don’t want to go to court.
It’s Cheaper to Settle
Sometimes corporations or insurance companies settle claims after the lawsuits are filed just to save further expense if they can see the writing on the wall and they want to save the expense. If someone has been truly harmed in an 18-wheeler accident or medical malpractice case, and they know the defendant is bound to lose, they’ll settle just to avoid the high damages they’ll have to pay out.
They Know Your Attorney Will Go to Trial
As we’ve talked about in the past, there are some law firms that are reluctant to go to trial, and there are some law firms who are more than happy to take on a good courtroom fight. Once a law firm has proven themselves to local defense attorneys or insurance adjusters, they’ll want to avoid the extra expenses of litigation, and they’ll be more willing to pay a fair settlement. Broussard & Hart is one of those firms who have never shied away from a courtroom trial and insurance companies know this. We have gotten fair settlement offers from defendants who didn’t want to face an expensive trial that they could possibly lose. But some law firms are nothing more than settlement mills, and the insurance companies and other corporations know this. They love to work with those companies, because the firms are willing to accept a less-than-fair settlement offer. So insurance companies will either settle because they’re happy to make a case go away for a fraction of the potential damages or because they’re worried about what might happen if they face a courtroom-savvy attorney. If you have further questions about personal injuries or other legal matters, we welcome the opportunity to answer them for you. Please feel free to contact us toll-free at (866) 281-4774