The rule of thumb in personal injury cases is not to accept the first settlement offer the defendant or their insurance company makes. Their willingness to settle means that, firstly, they accept liability and, secondly, that they know there is a chance you can get a hefty compensation at trial. By settling, they know they won’t have to accept liability and may pay a lower compensation.
That said, when a settlement offer comes, it isn’t the cue that your chances are good and that you should go to trial. It means that there’s room to negotiate. It is also at this point that you should trust your lawyer and let them take the lead.
When your lawyer finally advises to accept a settlement they usually have very good reasons. Remember, since they will get a percentage of whatever you get, they are just as motivated as you to get you a high settlement. Also, you will not get a better settlement because someone you know got a million dollars.
Case facts are always different and those are what determine how much settlement money you can get. There are also statutory and case law limits. So if the offered settlement ‘makes you whole again,’ it is wise to settle. If you go to court, anything can happen, quite literally.
De Sa & Associate are personal injury lawyers in Toronto. We make sure our clients get the support they need to recover physically, emotionally, and financially. Contact us today for a consultation.