What Is the Difference Between a Verdict and a Settlement?

Before entering a personal injury claim, you may want to understand the distinction between a verdict and a settlement. Read on and reach out to our skilled Houston personal injury attorneys to learn more. We are here to help.

How are a verdict and a settlement different?

The main difference between a verdict and a settlement is that a verdict is determined in court and a settlement is an agreement between the plaintiff and defendant outside of the courtroom. Oftentimes, personal injury lawyers will work to negotiate a fair settlement for their clients because it is generally in everyone’s best interest to avoid going to trial. In the event that a fair settlement cannot be reached, personal injury attorneys will represent their clients in court to obtain a decision through a trial. If you have additional questions, give us a call today to learn more. We are on your side.

What is a fair settlement?

A fair settlement protects all economic and non-economic losses linked to the accident. It is very essential to speak with a personal injury attorney before taking a settlement offer or attempting to bargain with the at-fault insurance adjuster. If you have a lawyer on your side, he or she will have the knowledge needed to assess the real value of your claim and review your legal rights. Insurance companies rely on the fact that most people have no concept of what their claim is worth so they can present them with the smallest settlement possible, or even abandon their claim entirely.

What compensation can be obtained from a verdict and a settlement?

Even though each personal injury claim is different and will have a clear list of damages, you can expect to see the compensation awarded in verdicts and settlements to be comparable. Here are some common examples of recoverable damages in Texas:

Economic damages:
• Past and future medical bills
• Lost wages
• Reduced or lost earning ability
• Repair or replacement of damaged property
• Lifecare expenses

Non-economic damages:
• Pain and suffering
• Physical impairment
• Disability and disfigurement
• Loss of companionship
• Emotional distress

With the aid of an experienced personal injury attorney, you will be able to have access to more information regarding the value of your claim and the damages you are entitled to. Reach out to The Gonzalez Law Group today to meet with one of our skilled attorneys about the specifics of your case and your legal options.

CONTACT OUR EXPERIENCED HOUSTON PERSONAL INJURY FIRM

If you require legal representation for personal injury matters, look no further than The Gonzalez Law Group. Schedule your initial consultation with our team to learn more about our services and how we can assist you. Contact us today.

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