When you or someone you know has suffered injuries from a car accident, a slip, and fall, or a medical mistake, it’s normal to feel overwhelmed. However, those who have significant medical costs, severe injuries, and lost income due to illness or injury are more at risk of experiencing difficulties in dealing with their situation. Unfortunately, in instances like this, many people would just offer a quick settlement as a remedy.
Bear in mind that you cannot be forced to consent to a low settlement offer that doesn’t meet your needs. After a car accident or similar incident, many insurance adjusters will attempt to deter you from contacting a personal injury lawyer and make you an inadequate settlement offer. The good news is that you are not obligated to put up with it.
What Are The Factors You Need To Consider?
If you haven’t already done so or are unsure of the value of your claim, consult with Raphaelson law professionals or with other experienced personal injury attorneys. The money you’ve been given may not satisfy your long-term financial demands, and taking it could lead to financial ruin. The involvement of a personal injury attorney in your case might help you collect the compensation you deserve. There are various reasons why an insurance company’s initial settlement offer (and any subsequent ones) is generally low. Listed below are some of the factors you need to consider before accepting a a personal injury settlement offer.
- Costs Related To Medical Treatment
One of the most critical considerations will be the total cost of the accident-related medical bills. How much did you pay for your care? Have you undergone any medical procedures? Do you need to see your doctor again? Is it true that an ambulance was called after the accident? If you keep meticulous records of all your medical expenses, any of them should be considered when calculating your compensation.
- Loss of Earning Capacity
Due to your inability to work, the amount of money you lose is also considered. These expenses are considered in your compensation if your accident forces you to take unpaid time off from work that you otherwise would not have. Or, if your injury prevented you from receiving a bonus that you otherwise would have received.
- Emotional Damage
Accidents can cause more than just bodily harm; they can cause severe emotional and mental distress. It is challenging to show emotional damage like pain and suffering. Still, if there is convincing evidence that you have been emotionally affected by your injury, compensation for emotional distress may be available as part of your settlement. Emotional trauma victims should get therapies or professional help and keep detailed records of its effects on their lives to prove their losses in a court of law.
- Damage To Property
Property damage is easier to measure than pain and suffering or mental discomfort, which can be far more challenging to quantify. Factors such as the car’s age and mileage are considered to determine the fair market value of a ruined vehicle, and you should be compensated for that value as part of the settlement.
- Missed Opportunities
Many people don’t consider asking for financial compensation to cover their losses after suffering an injury. Maybe you couldn’t make it to a crucial business meeting that could have led to a lucrative contract, or perhaps you couldn’t be there for a family reunion or a loved one’s burial. Your damage settlement may take all of this into account.
- Infliction Of Pain And Suffering
Pain and suffering are the bodily misery you are forced to deal with due to your injury. This damage is intended to compensate you for the suffering you have had as a result of the physical harm you have suffered. It is in addition to any medical expenses you may have been paid.
Emotional damage is one of the more complex types of damage to calculate. The more painful, long-lasting, and emotionally distressing an injury is, the larger the injury settlement. A judge or insurance company will also consider how long it will be until you recover physically. The injury settlement will be considerably affected by the presence or absence of persistent effects.
In A Nutshell
An offer of settlement does not compel you to do anything in a personal injury case. Your lawyer, however, can give you the information you need to make a conscious choice. Please inquire as to the legal counsel’s opinion of the offer, including whether or not they believe you would fare better at trial and why they hold such a view. Personal injury lawyers have real-world expertise to know if a settlement offer is fair to their clients. They can advise you on formulating a counteroffer and represent your interests in negotiations.