What is the difference between a verdict and a settlement?
Compensation after a claim or lawsuit can come in two forms: a verdict or a settlement. In an out-of-court settlement, the parties agree on a compensation amount without court involvement. In contrast, a verdict is issued by a judge or jury after a court proceeding and trial.
In most personal injury cases, the plaintiff (the person bringing the suit) and the defendant agree to a settlement before the matter goes to trial. However, if a claim is disputed or a lot of money is at stake, it may go to trial, where the jury or judge will make the final decision.
You could recover your due from the responsible party in both settlements and verdicts. However, working with an accomplished and motivated attorney can give you the best chance of receiving what you deserve. Morgan & Morgan is here for you. Contact us today to determine whether you qualify for compensation in a free case review.
Settlements vs. Verdicts?
Verdicts and settlements both have distinct advantages and disadvantages. Knowing these pros and cons can be essential for receiving what you deserve.
Advantages and Disadvantages of Settlements
Out-of-court settlements generally produce faster results with fewer legal costs than court cases and verdicts. Moreover, you know the final amount you will receive when agreeing to a payout. Another significant advantage of settlements is that, unlike in a court case and trial, victims’ privacy is protected.
While there are only a few negatives when you settle out of court, the final amount of the settlement can be much lower than a trial verdict.
Advantages and Disadvantages of Verdicts
Trials can be lengthy and usually involve higher legal fees. Victims may have to wait much longer to receive their payout than with an out-of-court settlement. Moreover, you have no guarantee of winning at trial and could end up with nothing. Unlike a settlement where you are in the driver’s seat, a judge or jury decides how much to award you, if anything.
That said, the primary advantage of a favorable verdict can be recovering a higher compensation amount than you could have hoped for with an out-of-court settlement.
How to Know Your Claim’s Worth Before Settling?
Before agreeing to a settlement, ensure that you know the worth of your claim. Once you sign on the dotted line and agree to a settlement, you may not be eligible to file a lawsuit and pursue further compensation.
An attorney from our firm can assess your claim and damages and help you decide whether a settlement offer is adequate or whether you are leaving money on the table. We never settle for less and can take your case to trial if the other side does not agree to a fair settlement.
Can You Decide Whether to Accept a Settlement or Verdict?
Victims are deeply involved in out-of-court settlement negotiations as they ultimately decide whether to accept or refuse an offer. However, taking the first offer only to settle quickly can be a mistake. Defendants and insurance companies often make lowball settlement offers that do not cover victims’ damages. In other words, rushing to accept a payout could leave you sitting on your future medical bills and other damages.
While victims can decide whether or not to take a settlement, once your lawsuit goes to trial, you only have minimal influence on the outcome. You cannot decide whether to accept or refuse a verdict. However, a court verdict can work out advantageous, especially if the at-fault party previously denied you a fair settlement.
Working with an excellent trial attorney can be essential if you want to receive what you truly need and deserve, whether in a settlement or verdict. Morgan & Morgan’s experienced and dedicated attorneys fight for maximum compensation in and outside the courtroom.
What are the Damages You Could Recover With a Verdict or Settlement?
Whether you win a settlement or verdict for your claim, you could qualify for various damages, such as:
- Income loss
- Healthcare costs
- Property damage
- Out-of-pocket expenses
- Pain and suffering
- Reduced life quality
Our experienced attorneys can determine the value of your claim and fight for a fair settlement or favorable verdict on your behalf.
Should You Hire an Attorney?
Hiring an attorney who will fight to maximize your compensation can be critical in cases with high damages and severe injuries. Our dedicated lawyers can:
- Calculate the value of your claim and determine a fair settlement amount
- Gather the evidence needed to prove liability
- Build a case against the liable party
- Communicate and negotiate with the insurer and defendant
- Negotiate a fair out-of-court settlement for you
- File a lawsuit and take your case to trial, if necessary
Morgan & Morgan Wants You to Receive Maximum Compensation
We see the devastating impacts of personal injuries on victims and families every day. Life-changing injuries, sky-high medical bills, expensive property damage, and other costs can quickly spiral out of control and cause misery and financial hardship. However, if someone else caused your injury, they should pay for your damages.
We do not want you to receive less than what you truly deserve. We never accept an insurer’s last best offer if we think you deserve more. Morgan & Morgan believes that our injured clients deserve the total value of their claims so they can put their lives back together and face the future without fear of financial chaos.
Contact Us Today
Our tenacious attorneys can fight tirelessly for the compensation you deserve. In the last three decades, we recovered more than $13 billion in damages in verdicts and settlements. You have nothing to lose as our fee is free unless and until we recover for you.
If you think you have a case, our attorneys want to hear from you. Contact us now for a free, no-obligation case review.