At Apex Law Firm our goal is to get you the maximum recovery for your claim. Sometimes this happens prematurely through settlement. Insurance companies settle cases for five main reasons:
To avoid the time and cost of litigating the case in court: Going to trial can be a lengthy and expensive process, and an insurance adjuster may decide that it is in the company's best interest to avoid this by settling the claim.
To minimize potential losses: If an insurance adjuster believes that the company is likely to lose the case if it goes to trial, they may choose to settle in order to minimize their losses.
To maintain a good reputation: Insurance companies may choose to settle a claim in order to maintain a good reputation and avoid negative publicity.
To resolve the claim more quickly: Involving lawyers in a claim can often lead to delays and extended negotiations. An insurance adjuster may decide to settle the claim in order to bring the matter to a resolution more quickly.
To avoid the risk of a larger payout: If an insurance adjuster believes that the plaintiff's lawyer may be able to secure a larger payout for their client if the case goes to trial, they may choose to settle in order to minimize the potential payout.
Hire or lawyer or not?
The amount of a settlement can depend on a variety of factors, including the strength of the evidence, the amount of damages incurred, and the negotiating skills of the parties involved. That being said, there are a few reasons why settlements with lawyers involved may be higher than settlements without lawyers.
First, a lawyer may be able to negotiate a higher settlement on behalf of their client because they have a better understanding of the law and the value of the case. They may also be able to present the case more effectively, which may increase the settlement amount.
Second, the presence of a lawyer may also increase the perceived seriousness of the case and the willingness of the other party to settle. If the other party believes that the case has a good chance of going to trial and that they may be ordered to pay a large amount of damages, they may be more inclined to settle for a higher amount.
Finally, the involvement of a lawyer may also increase the legal fees that the other party has to pay, which may make them more willing to settle for a higher amount in order to avoid these costs.
Of the cases we’ve observed in the last few years it is rare to see a settlement offer not rise in value after a client retains us.
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