Should I Accept The First Settlement Offer From My Insurer?

One of the most common questions that personal injury lawyers answer when handling a case is “Should I accept the first settlement offer from my insurer?” If you accept their offer, you’ll be compensated for your injuries quicker and be able to move on with your life. Conversely, that settlement offer may be insufficient to meet the needs of your long-term disability. In any event, a personal injury lawyer can guide you through the legal process and ensure your rights are protected.

Factors that will help You make Your Decision

Whenever an insurance company proposes a settlement for damages in a personal injury case, there are certain factors that could help you decide whether or not you accept it. These include:

Duration of a personal injury lawsuit – the majority of all personal injury claims never go to court. In fact, roughly 90% to 95% of all cases are resolved in mediation or at the negotiating table, so to speak. Personal injury cases can be extremely complex and can take years to be resolved in front of a judge and jury. As with all personal injury cases and lawsuits, it ultimately depends on the quality of evidence that is presented and taken into consideration.

Insurance policy details – insurance policies are extremely complex documents that often need the legal interpretation of an experienced personal injury lawyer. Talking with a legal professional about your options gives you a better chance of experiencing a positive outcome with your case. It also ensures that your rights will be protected during the legal process.

Liability issues – if you are liable for the accident and your injuries, the degree of fault could adversely affect the amount of compensation that you receive. It is very important that you obtain evidence to support your case. This would include surveillance footage and witness statements.

Nature and extent of your injuries – getting a professional medical diagnosis of your injuries is critical in a personal injury case. Not only does this help you prove that your claim is valid and that you should be able to recover damages, it helps them to gauge the cost of any assistive devices that are needed and any future medical costs.

If you or a loved one recently sustained injury in an accident that was caused by the careless or negligent behavior of another person or entity, you may be entitled to fair and reasonable compensation. Talk with a personal injury lawyer in Waterloo today.