A good settlement offer will cover all current and future medical expenses you may accumulate as you recover from your injuries. Depending on the severity of your injury, you could end up needing long-term care or rehabilitation, which costs a lot. A good settlement offer works in your favor and puts you back in a favorable position once the agreement is final. Settlement offers must take into account all the factors that have affected you in relation to your losses, damages and personal injuries. For example, insurance companies use charts, graphs, and calculations to determine the best offer for a claim.
They are usually fair in their decisions, but make no mistake in saying that the insurance company wants to reduce part of the agreement if they can get away with it. While you'll have to pay your lawyer a portion of what you receive during the trial or settlement, there's a good chance that this will end up being much more than you would receive if you tried to negotiate on your own. Working with an experienced personal injury attorney can give you a better idea of the amount of compensation you should expect as part of a reasonable settlement and, in many cases, how to determine if that offer effectively meets your needs. Because one of the benefits of a settlement is the ability to receive compensation quickly, the at-fault party may postpone increasing the settlement offer to encourage them to accept an amount that is more acceptable to them. This is difficult if one of the guilty parties is not solvent or cannot contribute in any way to reaching an agreement.
Once your case has reached a settlement agreement, it can take one to six weeks before the company sends a check. In serious injury cases, you should consult with an attorney before accepting any settlement offer made by the other party. If you were severely traumatized by the incident (for example, you're in therapy, now taking psychiatric medications, and suffering from depression, anxiety, post-traumatic stress disorder, or anything else), they may be willing to offer you a better solution than if you couldn't present any evidence for these conditions. A good settlement offer will include compensation for the pain and suffering you suffered and compensation for the financial losses you suffered in the accident. A settlement is when the insurance company offers you a sum of money to settle your personal injury claim without going to court.
A good personal injury settlement will take into account your direct financial losses and provide some compensation for the non-financial losses that resulted from your injuries. If the at-fault driver in your case is underinsured and doesn't have enough insurance to cover your losses, your agreement with your insurance company will be limited by the limits of your policy. In evaluating whether you have a good settlement offer, the experience of a legal representative is invaluable. If you haven't already contacted a personal injury law firm, a poor settlement offer should indicate that you should contact a personal injury lawyer as soon as possible.
An immediate settlement can provide quick relief, but it may not cover long-term needs, such as ongoing medical care or medical equipment. We will help you understand your recovery rights and determine what a reasonable settlement offer is in your case.
