How is a Personal Injury Verdict Different from a Settlement?

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There is nothing more devastating than sustaining a life-altering injury at the hands of a negligent party. Fortunately, as long as you can prove you were hurt due to no fault of your own, you should be entitled to compensation, either through a settlement or a verdict. Please continue reading and speak with a seasoned Jacksonville personal injury lawyer from Ansbacher Law to learn about the difference between verdicts and settlements and how we can help you get fairly compensated for your injuries. Here are some of the questions you may have:

What is the difference between a verdict and a settlement?

The primary difference between a verdict and a settlement is that a settlement is a contractual agreement reached outside of court between you, your attorney, and the other party’s insurance company. Essentially, a settlement is an agreed-upon payout that you will receive to compensate you for your injuries. Settlements are generally quicker to obtain than verdicts, and, typically, most personal injury cases resolve in settlements.

That said, you should note that insurance companies are notorious for offering injured parties lowball settlements that don’t truly cover the cost of their injuries. This is because they are only businesses, and in most cases, their primary concern is simply protecting their bottom line. If the settlement you are offered is insufficient, we can take your case to trial, wherein a jury will determine whether you’re entitled to additional compensation, and a judge will issue a verdict.

What compensation can I recover through a verdict or settlement?

As long as we can satisfy the burden of proof in your personal injury claim, you should receive compensation for the economic and non-economic damages you’ve incurred as a result of your accident. Economic damages can help you deal with the cost of medical bills, lost wages from being unable to return to work, property damage, and more. On the other hand, non-economic damages can help you cope with the pain and suffering, lower quality of life, emotional trauma, and scarring/disfigurement you’ve endured as a result of your accident.

How long will I have to file a personal injury claim in the state of Florida?

In Florida, the statute of limitations for most personal injury claims is four years. You should note, however, that the sooner you file your personal injury claim, the better your chances are of recovering the compensation you need to heal. Ansbacher Law is here to help you today.

If you have any additional questions or believe you have a valid personal injury claim, please don’t hesitate to contact us so we can get working on your case.