Three important facts to know about personal injury settlements

Read This Before You Accept a Personal Injury Settlement Offer

If you’ve been injured in any kind of accident that was not your fault, you may be entitled to compensation. For example, if you were hit by a drunk driver, liability for the accident rests with that person, and their insurance company will be responsible for providing your compensation. Typically, insurance companies prefer not to take personal injury cases to court. Instead, they will review your case and then make a settlement offer.

Before you accept any settlement offer that you may receive from an insurance company, you need to understand three things:

  1. You May Be Entitled to More Compensation
  2. It is in an insurance company’s best interests to offer as little compensation as possible, in order to keep their costs down. This means that their initial settlement offer is almost always going to be low. Non-economic damages like pain and suffering are often not accounted for. In some cases, settlement offers do not even provide enough compensation to cover your economic damages, including medical bills, property damage, and lost wages.

  3. You Can Negotiate for a Better Offer
  4. If you receive a settlement offer that is less than what you need or deserve, you can and should negotiate for a better offer. The worst that can happen is the insurance company will stand their ground and refuse to raise their offer—they will not rescind the offer entirely, so you really have nothing to lose. If the evidence in your case is strong enough, however, you should have success in negotiating for a better offer that will provide fair compensation.

  5. You Need an Attorney to Fight for You
  6. Insurance companies respond better when you have a professional on your side. By hiring a personal injury attorney, you can get expert assistance with all the steps that are needed to put you in a strong position to successfully negotiate for full and fair compensation. For example, your attorney can help gather evidence for your claim, explain the amount of compensation that would be reasonable given the facts of your case, and keep the pressure on the insurance company to treat you fairly. Your attorney will handle the settlement negotiations for you so you can focus on recovering from your injuries.

Need Help with a Personal Injury Claim?

If you have been injured in an accident that was not your fault, The Law Offices of Larry H. Parker is here to help you secure maximum compensation via settlement negotiations or litigation. To learn more about working with us, call 800-333-0000 and request a free consultation with a personal injury attorney.