The losses of suffering preventable injuries in a car accident will come with a major price tag for victims and their families. The settlement is an arrangement made outside the court system to compensate the victim for their damages with a payment from the liable party’s insurance company or their own insurer, depending on the situation. Negotiated settlements are used to resolve most personal injury cases resulting from car accidents in New York and New Jersey, even when the injuries are severe. Accepting a settlement does come with particular conditions. In exchange for payment, car accident victims must waive their legal rights to pursue more compensation by filing a lawsuit or continuing with any pending litigation. Once all the parties have signed the settlement contract, the case is over, and there is no going back. That means claimants should not agree to a settlement unless it provides them with fair and reasonable compensation.