Tips for analyzing a settlement offer

Most people who have been injured in a car accident simply want to recover the compensation they need and deserve so that they can focus on their recovery and returning life back to normal as much as possible. When a negligent driver caused the wreck in question, then this usually means taking legal action. The fact of the matter is that the vast majority of personal injury cases result in settlement well before they go to trial, but how do you know if a settlement offer is fair and whether you should take it?

Analyzing a settlement offer

There are a lot of considerations to be taken into account when deciding on a settlement offer. Let’s look at some of them:

  • Your damages: Before you can accurately assess the appropriateness of a settlement offer, you have to know what your claim is worth. This means putting in the work to calculate not only lost wages and medical expenses, but also articulating your pain and suffering and obtaining a clear sense of what your future looks like.
  • The evidence: If your evidence is strong, then you’ll have more leverage to either negotiate a better settlement or take your case to trial. But if your evidence has weaknesses, then a settlement may be the safer bet. It’s a balancing act here, and you need to know what level of risk you’re comfortable with taking.
  • Your timeline: One reason why a lot of car accident victims take settlements is because they need money fast. They also just want to move on with their lives. You’ll have to consider what you want out of your recovery and how quickly you want to move on to the next chapter of your life.

Don’t go into settlement negotiations blind

Don’t make the mistake of thinking that settlement negotiations are low-key talks where everyone involved just wants to figure out how to position you for a successful recovery. The opposite is true. You and your attorney are the only one looking out for you. Therefore, before sitting down at the negotiation table, make sure that you’re equipped with a strong strategy and are prepared to go to trial, if it comes to that. Attorneys who are experienced and skilled in this area of the law can help you create a strategy that aggressively works for you.