Should You Accept a Settlement Offer?

When you file a personal injury lawsuit, your main goal is to receive compensation for the injuries that you sustained. While the process can be long and arduous, most hope that they can get through it quickly. Your best hope for a quick lawsuit is to receive a settlement quickly. This is not always wise, however. In fact, you may not want to accept the first settlement that you are offered. If you are tempted, ask yourself these questions first.

Do You Have a Lawyer?

Before you accept a settlement from an individual or insurance company, you should be in contact with a lawyer. Your lawyer will know when to settle and when to keep fighting for a higher settlement. It is better to have a lawyer because he or she will have experience in cases similar to yours. Your lawyer will know the size of the settlements that you can typically get with your type of case.

Have You Calculated Your Case’s Value?

Do you know how much your case is worth? You may know the cost of your medical bills but this isn’t the only determining factor when it comes to the case value. Here are some factors into that final settlement value:

  • Medical costs
  • Lost wages
  • Pain and suffering
  • Property damage

It is easy to see a number that may be close to your estimate and to accept it right away. You want to have a solid calculation first.

Will You Need Future Treatments?

Some injuries will require future medical treatments. It is important that you document every doctor’s visit and every treatment required for your injury. If the doctor suggests that you will need future treatments, you need to take this into account. Even if the offered settlement will help cover the bills that you have right now, it may not cover future costs that you are entitled to.

The best advice when you receive an offer for a personal injury settlement is to think about it critically. Make sure that you have contact with a lawyer so that you don’t make any snap judgments. It is easy to see a lump sum settlement and agree to it right away. Maybe you’re afraid that taking it to trial will fail or that if you continue to negotiate, you won’t receive anything. Trust your lawyer to help you decide what the right move is. For more information on how to handle a settlement offer, talk to a personal injury lawyer, like a personal injury lawyer in Trenton, NJ, today.

 


 

Thank you to the experts at Davis & Brusca, LLC for their insight into personal injury and the law.

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