If you have an existing personal injury claim, you may be wondering whether or not to consider an out-of-court settlement. The answer to this depends on the circumstances of your case and how you wish to move on with your life after your injury. Usually, it is a good idea to work with an experienced Alliance Law Group attorney who can give you advice on when a settlement offer is fair. Your lawyer will advise you against accepting an offer that does not cover your medical bills, lost wages, and pain and suffering. Before you decide to settle your claim, here are factors you must consider:
Your Legal Representation
Trying to deal with an insurance provider will usually put you at a disadvantage. While this can get a quick settlement, it may not be enough to cover all your expenses and losses. Surveys show that personal injury claimants tend to get a better insurance payout when they have legal representation.
Maximum Recovery from Your Injuries
Your settlement should include compensation or your medical expenses, which include current and future medical treatment. You must only settle if you know all your medical expenses. But you can only get this information if you have fully recovered from your injuries. Once you reach maximum recovery, you will be able to determine the costs of your previous medical treatments and the cost of future medical care you may need.
Pain and Suffering
Your claim should also demand compensation for non-economic damages such as pain and suffering, reduced quality of life, and mental distress. Such damages are especially essential if you have endured a long, painful recovery or sustained a permanent disfigurement or disability. Your attorney can translate these damages to a dollar amount. To assess these damages, they will take into account certain factors and dig into the outcomes of other people’s personal injury cases.
Lawsuit
If negotiating a settlement with an insurance company does not work, your attorney may advise you to file a lawsuit against the negligent party to pursue maximum compensation. When you go to court, the insurer will know you are willing to fight for your right to compensation no matter what it takes. Because of this, the insurer may make a more reasonable offer. Otherwise, you could take your case to trial. In this case, a judge will decide the monetary award you deserve based on their assessment of your case including your injuries, accident, and related facts.
