16 May Personal Injury Settlement Offers: 6 Things to Consider (Pt. 1)
When you are involved in a personal injury lawsuit, the chances are that you will be offered a settlement at some point before a trial because, in most cases, the defendant in your case will want to avoid the costs of a trial and resolve the case as soon as possible. However, just because you are offered a personal injury settlement does not mean that it’s necessarily a good idea to accept it, and there will be a number of things to consider when you are deciding whether to accept or reject these offers after they have been made.
In this three-part blog, we will point out some of the most important issues that you need to consider when it comes time to accept or reject personal injury settlement offers. Keep in mind, however, that our discussion herein is general and that it’s always best to discuss settlement offers with an experienced attorney before officially accepting or rejecting them.
As you decide whether accept a settlement, ask yourself…
1. Will the offer cover the costs of my future medical care?
On first presentation, personal injury settlement offers may seem enticing, especially if they are in the tens of thousands of dollars. However, after being presented with an offer, it’s important to take a critical look at whether this sum will realistically cover the costs of your ongoing medical care in the months or potentially even years down the line.
The facts are that medical treatments are expensive and that, when insurers or corporate lawyers make settlement offers, they count on victims not being aware of their entitlements and accepting offers that are substantially lower than they deserve.
Therefore, don’t be hasty to accept an offer just because it may seem large or substantial. Sit down with an attorney, do the math and figure out if this settlement offer is, indeed, sufficient to pay for your future medical needs.
2. Will going to trial result in a greater settlement?
This is an important issue to assess when deciding whether or not to accept a personal injury settlement offer. If you stand the chances of securing far more money by waiting for trial, then you may want to consider rejecting the offer and holding out for the upcoming trial (in these cases, the impending trial can compel defendants to present additional, higher personal settlement offers after an initial rejection).
Stay posted for the upcoming second and third parts of this blog for more on what you should consider when deciding whether to accept a personal injury settlement offer.
Phoenix Personal Injury Lawyers at the Law Office of Richard Langerman
You have a choice in the lawyer you hire to handle your claim, and the choice you make can affect the compensation you receive. Make sure that your lawyer has the ability and experience to handle your case.
If you have suffered from any type of personal injury and suspect that another party’s negligence or recklessness may be to blame, the Phoenix personal injury lawyers at the Law Office of Richard Langerman will fight to help you obtain the highest possible settlement so you can focus on your recovery and future.
Let’s Talk about Your Case
Call us today at (602) 240-5525 to learn more about your rights and receive professional advice regarding your case by setting up a free, no obligations initial consult with our trusted attorneys.