What Makes A Settlement Fair?
Most people today are aware of the fact that seeking compensation for your injuries after an accident is something that you should consider doing. While frivolous lawsuits get most of the attention these days, the reality is that those who have legitimate personal injury cases really do need to file those claims. Failure to do so could leave your life in shambles, leaving you struggling to make your finances work out due to the impact your injuries had on it.
Often, personal injury claims don't go to trial, ending instead in a settlement. But insurance companies and lawyers for the other side often try to bully around those who are hurt, offering them settlements that are lower than they really deserve or trying to refuse payment at all. Even when you're offered a settlement, there's a chance that you aren't being offered an amount that is fair. There are numerous things that can play a role in whether or not your settlement is really fair. Here are some of the things to make sure are considered in your settlement before you accept it.
• Medical Bills - The medical costs associated with your injuries can reach insane levels. And not only your initial medical bills - as weeks and months go by, you may have additional costs to face as you return to physical therapy and additional medical appointments. Your settlement needs to factor in your existing bills as well as any potential future medical costs that may be associated with your injuries.
• Lost Wages - You could lose wages due to missing hours at work because of your injuries. If this occurs, those lost wages could have a major negative impact on your finances. Your settlement should include any lost wages as well as future potential lost wages that may be associated with your injuries. Financial and medical experts often must be consulted to develop a clear image as to potential losses.
• Property Damage - If your vehicle or property was damaged in any way, you'll also have the right to seek compensation for the damages - repair and replacement costs. This needs to be factored into the settlement offer as well.
• Pain and Suffering - Along with punitive damages, pain and suffering compensation is often something that is generally awarded when a case goes to trial - it's actually one of the main reasons that many insurance companies prefer settlements. As such, pain and suffering isn't always included in a settlement offer. It could be, however, and the only way to potentially receive this is usually to have a lawyer arguing your case for you.
Each of these factors will play into a settlement offer and determine just how fair it really is. The ultimate goal is to get a settlement that will return you to the point you would have been in had your accident never occurred at all. If you can't reach that point, you will not be receiving a fair settlement. As such, each of the points above has to be considered to ensure your financial recovery is possible.
The key is to let your personal injury lawyer negotiate your settlement for you, making sure that you're able to get the restitution that you are truly owed. Our team can review your case and each aspect of it, then, make sure that you get that amount. If we can't reach a settlement agreement, we have no problem heading to the courts and fighting for your money there. The main thing to remember is not to accept a settlement that's less than you are owed - it could cost you your financial stability.