New York City Personal Injury Law Blog
Do settlement offers increase as the trial date approaches?
Posted on Feb 13, 2015 in Personal Injury FAQs
In your car accident case, the insurance company does not want to pay you, what you think your case is worth. What is the likelihood that they are going to increase their settlement offer as your case progresses towards trial?
There is Various Possibilities when You can Reject Settlement Offer
The answer is that they might, but then again they might not in regards to the title above. Every case is individual and unique. Let us say, the defense actually makes you an offer to settle the case, and you decide for whatever reason that the money they are offering is not sufficient. You have the expectation that you think that as the case progresses to trial, before it actually goes to trial, at some point they are going to increase the offer and negotiate a settlement.
Not any Higher
Can such a thing happen? The answer is yes, it can happen. However, there is a flipside to this coin. One of the directions this track could take is that the defense might actually withdraw their offer. The defense might turn around and say this is our final offer and no other amount that we propose in the future will be higher than this one sitting right in front of you now.
In such an instance, you may have no choice but to go ahead with the trial if you believe that monetary figure does not fairly represent the painful and financial setbacks you have endured. Your attorney and you will have to convince the jury to provide you with compensation that correlates to your costs (medical and otherwise) and suffering, and await their verdict.
Another scenario that could happen is that the defense can reduce their offer. Hence, when they hear you have rejected their offer, and the case is progressing to trial, they can say that they have reassessed the matter, and found that they had offered too much. Now they make you an offer that is less than their original offer. In such an instance, you will have to decide whether the reduced amount is acceptable or whether you would like to go to trial and accept the jury’s verdict.
It appears there are many different directions this process can take, and you should not necessarily expect that since you turned down their initial offer, they are going to increase the amount. This is true during the negotiation process as well. You might think that if you keep rejecting offers during the negotiation, the defense is going to keep increasing their settlement amount as your case nears trial. You may think that they will start to believe that you know more than them and that your pain & suffering was that severe.
This may not be so at any particular point in the negotiations process. Then you might be stuck in a predicament of being left with no choice but to go ahead with the trial and hope for a favorable jury verdict and there is not any unforeseen circumstances that arise.
Listen to the Advice to an Acute & Standout Attorney
Rejecting a settlement offer should not be based on a gamble or based on the expectation that the defense will keep increasing the amount before the trial commences. Therefore, it is critical to have a marvelous and sharp accident lawyer, who knows the true value of your case, he is confident of proving your case in court, and thinks he can convince the jury to award you with a sizeable compensation.
So basically, whenever any settlement offer is made, your lawyer will discuss the matter with you, and advise you whether it is wise to accept the offer or not.