{"id":42776,"date":"2022-02-03T12:01:27","date_gmt":"2022-02-03T16:01:27","guid":{"rendered":"https:\/\/ciccarelli.com\/philadelphia-injury-lawyers\/?p=42776"},"modified":"2022-02-03T13:46:27","modified_gmt":"2022-02-03T17:46:27","slug":"what-is-a-personal-injury-settlement-agreement","status":"publish","type":"post","link":"https:\/\/ciccarelli.com\/philadelphia-injury-lawyers\/what-is-a-personal-injury-settlement-agreement\/","title":{"rendered":"What Is A Personal Injury Settlement Agreement?"},"content":{"rendered":"

In the aftermath of sustaining an injury caused by another individual, company, or entity, victims are usually able to recover compensation for their losses. The most common route towards securing compensation is working with insurance carriers to receive payment for medical bills, lost wages, property damage expenses, and pain and suffering losses. However, what exactly is a personal injury settlement agreement?<\/span><\/p>\n

Here, we want to discuss settlement agreements so that you understand what to expect. We also want to talk about why you should work with an attorney to help you get through this process.<\/span><\/p>\n

Most Injury Claims Are Resolved Through a Settlement<\/span><\/h2>\n

There is a reason why most injury claims are resolved through a settlement. Trials are costly, and it can take a significant amount of time for an injury claim to even reach a jury. Sometimes, a jury hears cases about incidents that happened years before. Most individuals do not have the time to wait to recover compensation. Additionally, the reality is that most injury claims are simply not worth enough to involve a jury trial.<\/span><\/p>\n

\"Philadelphia<\/p>\n

After an injury claim is filed with an insurance carrier in Pennsylvania, this usually triggers an investigation by an insurance claims adjuster. These adjusters will conduct preliminary studies, and they may even make a very quick settlement offer to get the case over with. However, we need to point out that insurance carriers do not want to pay out high amounts of compensation, and a quick settlement offer is not a favor to you – it is an attempt to make you go away as quickly as possible while paying you as little as possible.<\/span><\/p>\n

Settlement offers typically begin on the low end, and this is where a negotiation process takes place. The injury victim and the insurance carrier need to go back and forth until an adequate amount is agreed on. We strongly encourage all injury victims to work with a skilled <\/span>Philadelphia injury attorney<\/span><\/a> who can help them with this process.<\/span><\/p>\n

If an insurance carrier refuses to offer a fair settlement, or if they deny the claim, it may be necessary to move forward with a personal injury trial to recover compensation.<\/span><\/p>\n

What Compensation is Usually Agreed on in a Personal Injury Settlement?<\/span><\/h2>\n

There are typically various types of compensation awarded through a personal injury settlement in Philadelphia. Even though no two injury claims are exactly alike in the Commonwealth, injury victims can typically expect to receive settlements that include:<\/span><\/p>\n