It’s Business, And It’s Personal

Analyzing a personal injury settlement offer

| Jan 11, 2021 | Car Accidents |

A car accident can reshape your life. If you’ve been injured in one, then you know all too well the physical and emotional pain and suffering that can be thrust upon you, not to mention the financial losses caused by unexpected medical expenses and lost wages. While legal action might be justified in your situation, particularly if the driver who caused the car accident was negligent, you might also be given a settlement offer in hopes of quickly resolving the matter. These offers can be tempting, but before accepting yours you should really analyze it and your case to see if it’s truly in your best interests.

Analyzing a settlement offer

There are many aspect of your case that you should take into account before settling your personal injury claim. Here are some of the most important ones:

  • The value of your claim: This can be a tricky thing to determine, especially when you take into account noneconomic losses like pain and suffering and loss of enjoyment of life. But you can work with professionals to calculate your economic losses, such as lost wages and medical expenses, then do your best to demonstrate how your injuries have affected your day-to-day life to demonstrate your noneconomic losses. Only once you have a valid figure in mind can you adequately assess your settlement offer.
  • The evidence in play: Once you know the value of your claim, then you can consider the strength of your case. If you have robust evidence to support your claim, then a settlement offer that is only half of what your claim is worth shouldn’t be all that appealing. On the other hand, if the defense as strong arguments or there are holes in your case, then you might want to consider your offer more carefully, especially if you may have been partially at fault for the accident in question.
  • Your willingness to see it through: Even if litigation is the best option for you to obtain the most compensation possible, you should take into account the time and stress that can be involved with litigation. If you need or simply want a quick resolution and a fast infusion of cash, then settlement might be right for you. If you want to fight for what you deserve and aren’t afraid of the risks involved with going to trial, then moving forward might be your best bet.

Seek the representation you deserve

To achieve the best outcome possible, you need strong representation. Competent legal professionals like those at our law firm stand ready to aggressively advocate for your position in hopes of finding accountability and recover the compensation you deserve.

 

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