What is a Fair Settlement in a Car Accident Claim?
Posted by PKSD Law Firm on November 17, 2020 in Car Accidents
The first offer the insurance company may offer you after being injured may initially sound like a lot of money, especially if you are recovering and unable to work. However, the insurance company is not considering all the expenses you will have to pay out of your own pocket later if that offer is too low.
PKSD Law explains why we do not recommend accepting the first offer from an insurance company and what a fair settlement should always include.
After a car accident, we strongly recommend having a qualified attorney on your side who will fight to protect your rights and best interests throughout the legal process. Our Milwaukee car accident attorneys handle these claims for injured victims in Wisconsin every day. We are very familiar with the tactics insurance companies use to pay out as little on a claim as possible.
Contact our firm if you want to make sure your case is fairly handled and to give your claim a fighting chance to recover a just settlement for the injuries and losses you suffered.
Why You Should Avoid Accepting Any First Settlement Offers
Insurance adjusters and the companies they work for may sound friendly, but it is important to keep in mind that they are not on your side. They are first and foremost a business, so they are not going to offer you a realistic amount of compensation for your injuries or property damages. What they will do is give you a low settlement offer in hopes that you will not yet be working with an attorney.
The initial settlement offer will almost never fairly compensate you for your losses, and that is because:
- You have not reached maximum medical improvement, so how can the insurance company know what other care you may need?
- The total costs for your accident-related medical care, including what you may need in the future, has not yet been assessed.
- Your loss of future earnings has not been determined. If you are no longer able to do the same job – or are unable to work at all – what future income did the accident cause you to lose?
- The wages you lost if you had to miss work may also not have been included.
- The travel costs for going to and from your medical appointments, both now and what you may need in the future have not been considered.
- Any home modifications, mobility aids – such as crutches, a wheelchair or prosthetics – were also likely not included.
- Other non-economic damages, such as pain and suffering, have not been assessed or included.
The list goes on, but you can see why an early offer could leave you with a devastating amount of costs to pay out of your own pocket. These are the very costs – and more – that a licensed attorney will fight to make sure is included in your fair settlement.
Evidence That May Strengthen Your Claim
There is a lot of evidence you may or may not be aware of, but if gathered, could help to strengthen the overall value of your claim. Collecting helpful evidence can begin at the accident scene, such as photographing vehicle damage and road debris, getting witness statements and more.
Additionally, it is important to avoid common mistakes – such as not calling 9-1-1 or failing to seek medical care immediately – that could damage both your health and any potential claim.
When you hire one of our knowledgeable attorneys, we are ready to thoroughly investigate the circumstances of your accident, fight to make sure you are not assessed more than your fair share of liability and work to build a strong case on your behalf. We have the resources and staff to fully manage your claim while keeping you well-informed about the status throughout the legal process. We are also prepared to utilize industry experts, such as an accident reconstruction specialist, when needed.
What a Fair Settlement Should Always Include
Negotiation for a fair settlement cannot even begin until you have reached the maximum recovery you are likely to achieve. Once your have reached that point after an accident, your attorney will work to calculate the maximum amount of compensation for your injuries and other losses, including:
- Lost income
- Loss of future earnings
- All associated medical costs
- Pain and suffering damages
- Property damages
- And more
Many attorneys are not willing to go to trial, and when an insurance company discovers this, it can reduce any leverage for negotiating your fair settlement. However, although we will make every effort to achieve a fair settlement and pursue every avenue for negotiation first, our attorneys are fully prepared and willing to go to trial on your behalf if necessary.
How an Attorney May Help You Recover a Fair Settlement
At PKSD Law, we are committed to fighting for fair compensation for our clients. We have a proven track record of recovering millions in compensation for the injured clients we have represented.
There is no risk for finding out whether you may have a valid case, so we encourage you to contact our firm today. Schedule a free initial consultation by contacting our representatives anytime, day or night. There is no obligation to hire us after this meeting, but if you do, there are no upfront costs to pay. We also do not charge attorney fees until the conclusion of the legal process and only then if we recover compensation for you.
PKSD Law. Trusted legal help fighting for you. 877-877-2228