Settling A Personal Injury Claim? Think Thrice Before You Do It
Thousands of Americans file personal injury claims every year. Most opt for the settlement route to close the case at the earliest. It makes sense because lawsuits are long, expensive, and stressful. With a settlement, you can easily get compensation for your injuries and damages and start afresh. But settling your claim may not always be the best choice because you may end up being taken for a ride by the insurance company. It is vital to weigh the decision carefully to decide whether it goes in your favor. Here are the three things you must consider before settling a personal injury claim.
Understand if you have reached maximum recovery
The compensation amount hinges mainly on your medical expenses, both present, and future ones. You must be really sure that you have reached the level of maximum recovery after the accident to calculate the fair value of your treatment and rehab expenses. You will not want to settle too early, only to discover additional injuries later and spend more on your medical treatment. The amount you receive will probably not cover the costs and leave you in a financial fix. Countless victims end up settling too early, only to get quick access to money and close the case fast. Injuries surface later, and they regret their decision.
Therefore, you must speak with a personal injury lawyer to help you understand the right time to settle the case. Say, for example, you're hurt in a car accident, then a specialized lawyer in that field will have the legal knowledge and the right tactics to determine your compensation amount. You can visit https://fasigbrooks.com/jacksonville/car-accidents/ to learn about the importance of having an experienced lawyer on board before settling it yourself.
Consider the compensation value
Never settle until you are sure that the settlement offer is fair and valid. Medical costs and damages are easy to figure out, but calculating the value of pain and suffering is difficult. Additionally, there are state-specific laws and caps to consider. It is best to have a specialist lawyer to calculate the claim and value and help you decide whether the settlement is worth it. For example, you can connect with an Arlington Heights personal injury lawyer to help you compute fair compensation for an accident in Illinois. Remember that the insurance company will try to settle with a lowball offer, so never go ahead until you have an idea of the amount you deserve.
Compare implications of settlement and trial
The third crucial thing to bear in mind before accepting a settlement deal is whether it is better than taking your case to trial. A personal injury lawyer is the best person to help you weigh the two options and decide the one that works in your favor. They may recommend a settlement if the negotiations with the insurance company seem to be working for your benefit.
Conversely, they will surely suggest a trial if they believe that you deserve more than the settlement offer, and they can help you get it from the court. At times, going to court is worthwhile regardless of the time and stress it entails, because it brings the opportunity to get a massive amount in compensation.
The choice between personal injury settlement and trial is a tricky one, and you must not decide in a hurry, no matter how good the offer seems to be. Always seek legal counsel to weigh the alternatives and pick the best one.
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