What is the difference between a settlement and going to trial?

A “settlement” is an agreement reached outside of court between the injured party (plaintiff) and the at-fault party (defendant), usually through their insurance company. If you settle your case, it is because you agreed to specific terms.  Settlement allows the parties to retain control, is usually quicker than going to trial, and provides a final resolution.  If you “go to trial”, the case is presented to a judge or jury, who then decides liability and the amount of your damages.  Trials are typically a matter of public record and often take years to be resolved.  While juries can sometimes award more than what was offered in a settlement, the outcome is uncertain. At trial, you could win more or less than was offered in settlement — you could win nothing at all.  A trial will give the parties their “day in court,” but they lose control over the outcome.