In most bicyclist accident cases, the parties involved opt for a financial settlement to cover the claimant's damages, thereby avoiding the need for further legal proceedings. Negotiating a settlement demands skills and patience. This is why many injured individuals and their families hire a bicycle accident lawyer.
Litigation can take a long time. It can also stress the at-fault party, their insurance providers, and legal representation. For these reasons, in most cases, both parties find it more advantageous to negotiate a settlement before resorting to a court battle.
A settlement denotes an agreed-upon sum of money that the at-fault party, typically facilitated through their insurance company, will offer the injured party to withdraw their claim and refrain from pursuing it in court. Occasionally, the specific settlement amount may remain confidential.
In exchange for the settlement, the injured party commits to permanently dismissing their claim against the at-fault party. While injured parties are not obligated to accept a settlement, seeking counsel from their bicycle accident lawyer is crucial for determining the most prudent course of action.
Opting to settle rather than pursue a case in court may provide several potential advantages that warrant consideration.
Firstly, some victims of bike injuries may prefer to avoid testifying in court or undergoing further legal strife, prompting them to choose a settlement.
Additionally, insurance companies often seek to avert the risk of defending their insured against sympathetic juries. Settlements expedite the process for both sides, providing the bicyclist with financial relief sooner rather than later.