Personal Injury Settlement vs. Judgments & Awards

Although the terms’ settlement and judgment are often used interchangeably, they aren’t actually the same. If you’ve recently been injured due to the negligence of another party, you can seek compensation for your medical bills, lost wages, pain and suffering, and other damages.

In many instances, attorney Matt Boulton is able to convince the other party’s insurance company to accept 100% fault for your injury for cases types such as:

• Car accidents
• Truck accidents
• Motorcycle accidents
• Dog bites
• Slip & Falls

In cases where Matt has proven liability, there is a good chance that he can then negotiate a settlement that is larger than what the client would be able to secure with an attorney.

In the rare instance an insurance company does not meet Matt’s demands, he may decide that filing a lawsuit would be in the client’s best interest, and this is where judgments can occur.

How Settlements and Judgments Differ

When a personal injury claim is filed on your behalf, an attorney will negotiate and present your case to one of the defendant insurance company’s adjusters. Factors that adjusters will consider when figuring the amount of your settlement can include:

• The magnitude and extent of your injuries
• The potential long-term effects of your injuries
• Your medical bills and other treatment-related expenses
• The type of treatments you receive
• The duration of your treatment
• Your lost wages

Insurance adjusters also use historical case data to estimate reasonable payments for pain and suffering. Pain and suffering account for the psychological trauma of being injured and the stress of dealing with the settlement claims process.

Rushed Settlement Offers and Settlements That Are Far Too Low

Insurance adjusters are notorious for making low offers that don’t accurately reflect the true measure of a person’s losses. Additionally, they may attempt to rush the claims process and settle as quickly as possible. Matt is familiar with both of these tactics.

At Boulton Law Group, we handle all conversations with claims adjusters. Our experience with cases like these is how we are able to help calculate a fair settlement on a client’s behalf. Moreover, when insurance companies aren’t willing to agree on reasonable settlement amounts, we’re also able to take these companies to court, thus the potential for a possible judgment.

Settlements Between Two Parties and Judgments Occur in Court

Whereas settlements are binding agreements for payouts that claimants and defendants or their insurers establish on their own, judgments are only made in court. When a personal injury case goes to trial, the court enters an official judgment into the court’s docket. A judgment shows that a victim has prevailed in their lawsuit against the defendant and that the defendant is indeed at-fault.

What Are Awards?

Judgments determine whether defendants are liable for damages. Awards state exactly how much in damages defendants must pay. More simply, judgments are decisions on whether defendants are actually at-fault and awards are monetary amounts. Judges, arbitrators, or mediators determine awards after issuing judgments.

Should You Settle?

There are both benefits and drawbacks to going to trial. Taking a personal injury claim to trial is a worthwhile decision if the insurance company handling your claim is unreasonable or fails to adhere to Indiana’s personal injury laws. For personal injury claims involving debilitating, disfiguring, or otherwise life-altering injuries, going to trial may be the right choice. With far more at stake, people with severe and potentially permanent injuries may fare better in court.

However, when taking cases to trial, injury victims face the risk of receiving less money than they would if accepting earlier settlement offers. Moreover, both parties will invariably incur greater legal fees by going to trial. Taking a case to trial can also take far longer than opting to settle.

At Boulton Law Group, we carefully assess each claim that we handle to determine the best course of action. Many insurance companies prefer to settle outside of court whenever possible. They know that doing so will minimize their legal fees and their overall spending on claims. When injury victims work with well-established Indiana law firms like ours, insurance companies are typically more responsive in negotiations, and much more likely to make reasonable settlement offers.

Do You Know How Much Your Personal Injury Claim Is Worth?

Although settling a claim outside of court is often faster and easier, it’s rarely in the best interests of personal injury victims to settle all by themselves. And while a settlement offers might seem like a lot of money, an initial offer may not be sufficient for covering all of the damages that a negligent person has caused.

More importantly, if you settle too soon, you won’t be able to return for additional funds if you need them. Taking a rushed settlement offer could leave you facing financial strain.

Get in touch with Boulton Law Group today to have your case reviewed by Matt at no cost to you. His 25+ years of experience can help you accurately calculate your losses, and he can also help you determine whether settling with a defendant outside of court is the best course of action. Best of all, if you do choose to settle, he’ll make sure that your settlement amount accurately reflects the full measure of your losses.