Every year, millions of Americans fall and hurt themselves, including through slip and fall accidents at businesses. Compensation is often available following a slip and fall accident at a store or other place of business in Florida. This compensation may come in the form of a settlement.
Take a closer look at the different settlement options available for slip and fall cases under Florida law.
Settlements vs. Trial Verdicts in Personal Injury Cases
There are two ways for a slip and fall injury victim to obtain compensation following their accident. First, a slip and fall claim can be resolved through a verdict following a trial. A judge or jury would decide whether the injury victim was more likely than not hurt by a hazard that the property owner negligently failed to address.
The second method of resolving these claims is through a settlement agreement. In a settlement agreement, the other party agrees to pay you a certain sum of money for your injuries and losses.
In exchange, you agree to dismiss your lawsuit and not pursue additional compensation from the other party. In most cases, the other party does not admit fault or wrongdoing.
Benefits of Settlement Agreements
A settlement offers several benefits to injury victims. Perhaps most importantly, a settlement agreement gives the victim compensation for their losses without the hassle, expense, and uncertainty of a trial. The victim knows the precise amount of compensation they will receive, and there is no question that they will receive it.
Additionally, compensation often comes much more quickly than if the parties had trialed the case. This can be especially helpful if the injury victim is facing mounting medical bills or has experienced a reduction of income due to their injuries.
Considerations for Settlements
Settlements are not right for every case. Once executed, they are difficult to undo or revise. If the amount of compensation you agree to is not enough to adequately address your needs, you may not be able to revise the settlement agreement. You would likely be prohibited from pursuing additional compensation against the other party, even though you still need it.
The compensation received through a settlement may also be less than you would receive at trial.
Negotiable Terms in Slip and Fall Settlements
As no two slip and fall accident cases are identical, no two settlement agreements following such accidents look the same. Your slip and fall attorney will negotiate the specific terms of your settlement with the property owner’s representatives. These terms can specify not just the amount of the settlement, but also whether:
- The payment will be made in one lump sum or several payments
- The other party will admit any fault in the accident
- Any other non-monetary compensation or benefits will be provided
- Any other party must agree to the settlement before it can take effect
Your slip and fall attorney and the other party will also negotiate the date or dates for any payment.
Determining Whether a Settlement Is Right for You
Even when you have a slip and fall attorney helping negotiate your settlement, whether you accept it is ultimately your decision. In making this decision, your slip and fall attorney will encourage you to consider:
Amount of Compensation
Your lawyer will advise you to consider the amount of financial damages offered. If the amount offered through the settlement is close to the amount of economic harm and damages you have or will suffer, for instance, you might strongly consider accepting the settlement.
Need for Prompt Financial Compensation
As your medical bills and other financial costs accumulate following a slip and fall accident, you may face a growing need for financial resources. A settlement increasingly becomes the better choice for you, the more acute this financial need becomes.
Strength of the Evidence
Your slip and fall attorney can review the evidence in your case and determine the likelihood your case would succeed if it went to trial. While no case is guaranteed to succeed, a settlement offers the certainty of some compensation even in cases where the evidence in your favor is not strong.
Negotiating a Settlement
Not every settlement offer you receive from a property owner is in your best interests. When you have determined not to accept a specific settlement, it is not necessarily the end of your claim. You and your slip and fall attorney have one of three options.
The first of these options is to counter and offer an alternative set of terms to settle your case. This puts the burden back on the other party. They can then either accept your counter or continue negotiating a settlement.
For example, suppose you receive a settlement offer for $10,000 but determine that you need a minimum of $15,000. You can communicate this in a counteroffer to the property owner, who can then either accept this revised sum or offer you yet another settlement to consider.
A second option is to involve the services of a mediator or arbitrator. A mediator is an impartial third party who can help you and the other party break through an impasse in your settlement talks and forge an agreement. An arbitrator would review each side’s evidence and arguments and decide what an appropriate resolution would look like.
After rejecting a settlement offer, the third option is to take the matter to trial.
An Experienced Slip and Fall Attorney Can Help
A slip and fall attorney can assist you at any stage of your claim. However, the earlier you seek legal help, the greater your chance of reaching a satisfactory resolution through a settlement.
At Schrier Law Group, our slip and fall attorneys can evaluate the unique details of your case and recommend whether a settlement or trial is the best course of action. We can guide you every step of the way, whichever path you choose. Contact Schrier Law Group to schedule your consultation today.
