On Behalf of Rosenthal, Levy, Simon & Sosa | January 24, 2025 | Car Accidents
You may be surprised to learn that only 3 to 5 percent of personal injury cases proceed to trial, with the remainder settling out of court. In Florida, it is possible to settle your car accident case, avoiding the time and stress that comes with filing a lawsuit. However, your settlement amount may be lower than if you proceeded to trial.
You may be perplexed when making this decision, causing you to feel uncertain if you are making a wise choice. If you are unsure whether you should take your case to court, our West Palm Beach car accident lawyers are here to discuss what an insurance settlement entails and the benefits and drawbacks of accepting one.
Claim Submission & Insurance Investigation
When you file a claim, you can negotiate with the insurance company to accept liability by paying you for any accident-related losses. These negotiations take place after you send the insurer a demand package which includes documentation supporting your damages, along with a demand letter requesting relief by a specific deadline.
Once your claim is submitted, the insurance company has 14 days to acknowledge the receipt of your claim. Your auto insurer may send a claims adjuster to your home to evaluate the damage to your vehicle. According to Fla Stat. § 627.70131(3)(b), if the insurance company decides to conduct a physical inspection of the property, they must do so within 30 days of receipt of proof-of-loss statements. The insurance company must render a decision within 30 days of receiving your claim or inform you in writing if they require more time (they must inform you in writing every 45 days of your claim status).
In hiring a car accident attorney, you have someone who will prepare the demand package and handle insurance negotiations on your behalf, giving you the greatest likelihood of recovering maximum compensation.
What Actions Can My Insurance Company Take?
The insurance company may pay on your claim, deny your claim, or request more information. While your claim may be approved, the insurance company may still offer you a lower settlement amount than you requested. The first settlement offer is typically only 40 percent of what your claim is worth. However, if a settlement is reached, the insurance company must tender payment within 20 days.
Benefits of Accepting a Settlement Offer
Taking a settlement comes with many perks, saving you:
- Time: Reaching a settlement can save you the agony of spending several weeks or months in court;
- Money: You will avoid the costs and fees of going to court
- Stress: Settlement negotiations allow you to have more control over your compensation and to take time to consider each offer
Drawbacks of Accepting a Settlement Offer
By accepting a settlement, you will be releasing the defendant from any further liability, meaning that you will be unable to receive any further compensation on your claim. By taking the settlement offer, you will likely be receiving less money than if you pursued litigation. These drawbacks must be considered before accepting a settlement.
When Should I Consider Going to Court?
Although it is possible to reach an agreement, if your auto insurance company keeps offering you lowball settlements, repeatedly denies your claim, or plays games (such as insisting that your injuries are related to something else entirely), then you should consider taking your case to court.
At Rosenthal, Levy, Simon & Sosa Attorneys at Law, we are in constant communication with our clients and the insurance company during negotiations to ensure that you are notified of each offer as soon as possible. Our foremost priority is recovering the compensation that you deserve. If we believe that the insurance company is giving you a “runaround,” then we may recommend that you file a lawsuit.
Injured? Contact Our West Palm Beach Car Accident Lawyers Today
If you have suffered an injury due to another person’s carelessness, you need experienced representation to handle your claim from start to finish. If you are ready to pursue adequate compensation for your injuries and lost income, now is the time to speak with our West Palm Beach car accident lawyers. To learn more about what we can do for you or to schedule your free case review, contact Rosenthal, Levy, Simon & Sosa Attorneys at Law online or give us a call today.
Gerald A. Rosenthal
Retired
Since opening the firm now known as Rosenthal, Levy, Simon & Sosa more than 40 years ago, Gerald A. Rosenthal has been a dedicated champion of the everyday hero – police officers, firefighters, teachers, nurses, construction workers, farm workers, and more. Passionate about preserving the civil rights of laborers, he has fought tirelessly against giant insurance companies who deny the injured workers their benefits. It’s not just the lawsuit Rosenthal fights to win – he is driven by the opportunity to restore his client’s quality of life.
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