If you’ve been injured in an accident and are making a personal injury claim against an insurance company to compensate for your injuries and pain and suffering, it is almost inevitable that at some point during the process a settlement offer will made. A settlement offer is a proposed agreement of terms by which a personal injury claim is resolved, usually a monetary payment. A settlement offer can come from the insurance company, or from you and your attorney in the form of a demand. Each settlement offer in a personal injury case must be analyzed in light of many different factors.
These factors include the severity of your injuries, the specific facts surrounding your case, the amount of fault involved, your medical bills, the amount of medical care required for your injuries, your lost wages, and the ways the accident has affected your life. Settlement offers must also be considered in light of the amount of insurance available in the case. Another factor to consider when reviewing a settlement offer is the position of your case in the legal or claims process and the amount of issues and potential litigation involved at the time the settlement offer is made.
Every settlement offer made by the insurance company should be relayed to the client by their attorney in a personal injury case. And before an attorney accepts a settlement for the client, or makes a demand to an insurance company for settlement, they should discuss the amount they are asking for and the reasons why with the client. Reviewing and analyzing a settlement offer is important because once a settlement is accepted and a release is signed, the settlement will be final and enforceable in court and your case will most likely be over.