If you have recently been injured in an accident that was not your fault and have decided to file a claim against the at-fault party, you can feel secure knowing that the vast majority of personal injury cases settle. Read on to learn the top four reasons and the best way to get started with your personal injury claim.

Insurance company agreements

When insurance companies are involved in an accident claim, and they usually are, settlements are almost always offered. The reason this is a fact has to do with why most personal injury cases are settled. Insurance companies often offer settlements because they have the financial means to pay the compensation; in fact, they generally expect to pay a certain amount of compensation for liability claims. In addition, they are “risk averse,” which means they will do whatever it takes to avoid losing control of costs in the event they have to go to trial over a claim.

Why Most Cases Settle

Here are the top 4 reasons why virtually all personal injury cases settle:

1. Risk aversion

As mentioned, most insurance companies choose to offer settlement in an attempt to control financial risk. They would rather make an offer and control the amount of that offer, rather than risk the case going to trial, where a jury decides how much the plaintiff should be offered for his pain and suffering.

2. Protection of reputation

Another common reason insurance companies choose to offer a settlement is for the sake of their reputation. This is especially important today with all the relevant social media platforms available to the public. Larger companies are especially interested in protecting their reputations, as they have a very public profile and any damage to their reputations can jeopardize the company’s profits. Offering a quiet settlement out of court gives the company the opportunity to negotiate terms that work for both parties, possibly including a confidentiality clause.

3. Avoid a lengthy trial

Plaintiffs often choose to settle in order to avoid a lengthy trial. Victims cannot receive financial assistance until an agreement is reached; therefore, if a lawsuit continues for months or years, victims may suffer financially. It’s common for plaintiffs to need the money right away to pay for their losses and damages, including hospital bills, medical bills, lost wages, physical therapy, and more.

4. Win Guarantee

Another common reason plaintiffs choose to accept a settlement offer is for the simple purpose of winning and to acknowledge what they went through. Accepting an offer is a guaranteed method of obtaining compensation.