It is a factual statistic that a majority of car accident cases never make it to the court room and are instead settled outside of court. The reasons for this are simply because litigation is expensive and costs more than just money. It will also inevitable eat up other resources such as your time and effort.
In fact, in certain complicated cases, litigation can go on for years and the longer it persists the more expensive it is going to be in terms of legal fees for both the plaintiff and the defendant in the case.
Therefore, there is a lot to be gained by both sides when they choose a court settlement instead of taking the case to court and battling it out in trial. However, a settlement is not always as straight forward as one may like. In fact, at the end of the day the settlement is fundamentally a negotiation involving money and so it can sometimes be challenging for the two negotiating parties to find middle ground, explain salient accident lawyers from Owensboro, KY.
If you happen to have been involved in an auto accident case and are trying to recuperate the damages inflicted upon you then we highly recommend that you first consult with a Kentucky accident attorney before you go ahead and accept any settlement offer.
Please note that sometimes, in order to save their company money, an insurance adjustor may offer you a dollar amount which is only a fraction of what you could have got if you took the case to court. Therefore, it is vital that you seek legal counsel and understand how much exactly your car accident claim is worth heading to the negotiations table.
The demand letter
One of the first things your legal pro will do in order to get the ball rolling is file the demand letter. The demand letter is extremely important since it initiates negotiations. Essentially, the demand letter will contain facts and details about the case and will include supporting documentation such as bills.
You are basically presenting your case to the insurance company via the demand letter and thus it is important that you make the demand letter as extensive, factual, and compelling as possible, point out Owensboro, KY accident lawyers who know exactly how to draft the letter so it serves the purpose.
Now if you want to see a powerful letter that has an effect just watch the movie The Shawshank Redemption with the socialist Tim Robbins (Andy Dufresne) and Morgan Freeman (Ellis Boyd ‘Red’ Redding). The letter that Andy wrote Red after Andy escaped was touching and powerful. This motivated Red to find that oak tree, dig into that hole to retrieve that box.
This box contained money and directions to lead Red to where Andy was in Mexico. Andy was working on a boat, living a free life, on that gorgeous sand near all the blue water. This was down in Baja California, probably not that far from Cabo San Lucas.
Now your demand letter that your legal counselor will write for you will be vital as well. It will not be near any money though since at this point, you are the one who is seeking a financial gain from the other side.
During the process of negotiation, it always helps to know what your claim is worth, which is how much you could potentially get for the claim if you were to take the case to trial. This will serve as a reference point during negotiations and will help you reach a fair settlement. Therefore, if you have suffered losses in an auto accident, go ahead and talk to a Kentucky accident lawyer as soon as possible for a proper evaluation of your claim.