How do car accident settlements work?

 

Transcript:

Under Georgia law, if another driver negligently causes a car wreck in which you are injured, then that driver is going to be obligated to compensate you for the damages caused. Damages include any past and future medical expenses, lost wages, and pain and suffering. That is the basis of personal injury law.

At the end of the day, only a judge or jury will have the ultimate final say on how much compensation is appropriate for a particular case. That is the basis of our civil justice system.

In Georgia courts, each party must pay their own attorney’s fees and expenses. This is why almost all car accident cases settle. The cost, both in time and expense, often eats into the value of the case. Even though the at-fault driver would ultimately get a verdict for a certain amount, the injured person’s expenses to see the final result would undercut the value. In other words, seeing it all the way through to verdict is taking money out of the pocket of the injured person.

So a car accident settlement works like this: The personal injury attorney representing the injured party makes a demand to the at-fault driver’s insurance company for a certain amount of money. This amount would represent the full case value or above. The at-fault driver’s insurance company will negotiate that amount and both parties will end up settling somewhere in between. The goal for the injured party is to achieve a settlement amount that represents the amount closest to a reasonable verdict estimate. When the parties cannot settle on a number, then a lawsuit will have to be filed in order to get a final resolution.

Basically, a car accident settlement is an exchange of money by the at-fault driver’s insurance for a promise by the injured party never to sue the at-fault driver for the injury. Car accident settlements are final and enforceable by Georgia courts.

If you or a loved one have been injured in a car wreck, and you have a question about how the settlement process works, then please, feel free to call and speak to our experienced Atlanta car accident lawyers today. Our consultations are always free.