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What are the pros and cons of accepting a settlement?

On Behalf of | Aug 16, 2021 | Motor vehicle accidents |

Getting involved in a truck accident in Indiana is often a nerve-wracking time when you need to make important decisions. One of these decisions involves whether or not you’ll accept a settlement if one gets offered. Here’s a closer look at the pros and cons of accepting a settlement after a trucking accident.

Getting the damages you deserve

One of the main advantages of accepting a settlement is receiving damages. By doing this, you receive compensation for your mental and physical distress. This compensation can help you get a new vehicle, pay your medical bills and take care of other financial concerns.

Potentially leaving money off the table

A disadvantage of settling your case is not knowing if you received the maximum settlement amount. Sometimes, trucking companies will try to low-ball the victims of truck accidents by offering them far less than they should. If you get this offer and accept it, you won’t be getting any more money from this trucking company in the future.

Not taking on the risk of going to trial

When you’re in a legal battle with a trucking company, there’s always the risk that you could lose your case. If you lose your case in court, there won’t be any consolation prize. By accepting a trucking company’s settlement, you won’t have to worry about taking on the risk of losing a court case.

The other party won’t get held liable

When you accept a settlement, there’s no going back on your decision. You’ll also waive any right to pursue further action against this company in the future.

In closing, there are pros and cons associated with accepting a trucking company’s settlement. Make sure to give this decision plenty of thought before deciding whether to accept a settlement or go to court.