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How to Know if the Insurance Company Is Offering You a Fair Settlement?

A lot of people who have never gone through the process of personal injury cases are unfamiliar with the fact that most of these cases that involve car accidents and other preventable injuries, or damages are usually settled out of court. 

More often than not, insurance companies from both sides, the plaintiff (the victim who is demanding compensation) and the side of the defendant (the alleged offender), prefer sitting at the table rather than presenting their case in front of a judge and jury. This is because courtroom juries are unpredictable and can make decisions that might not be in the interest of either party. 

Thus, for any car accident or personal injury case, insurance companies put in efforts to protect the interests of their clients by avoiding the uncertainty of a courtroom and try to round up the best settlement deal for themselves and their clients, while negotiating outside the courtroom.

For personal injury cases, the only barrier that sits between a court hearing and a settlement negotiation is the readiness of the party at fault to concede liabilities. Once this is decided, the final step is to reach an agreement on how much compensation is going to be paid by the party at fault for the losses incurred by the victim. Several factors must be considered when deciding on the amount of compensation that the victim is supposed to receive:

  1.  Medical expenses
  2.  Lost income
  3.  Loss of enjoyment of life
  4.  Property damage
  5.  Physical and emotional losses

In a lot of US states, the state law has been formulated in such a way that it offers the victims the opportunity to even claim compensation for future losses that might have been caused by the accidents.

Factors to Be Considered

The negotiation process is quite intricate and requires a lot of factors to be taken into account in order to reach a fair settlement. As a standard practice, the settlement figure that is decided is as per the ballpark figure that would have been offered to the plaintiff if a lawsuit was filed and the case presented in court. This is why it’s imperative that the victim’s attorney is experienced in personal injury cases and is up to speed with the merits and weaknesses of your claims.

When sitting on the negotiation table, certain factors need to be kept in mind to get the best possible settlement offer:

  •  The severity and expected recovery time of the victim’s injuries
  •  The inclination of the state jurisdiction towards the plaintiff or the defendant
  •  Merits and weaknesses of the victim’s claims regarding the negligence of the offender
  •  If any of the victim’s actions contributed to the accident

Review Your Case

The first thing that you should do as a car crash victim is to immediately contact a highly-skilled and experienced personal injury attorney to take up your case. This will help you ensure that you end up with the compensatory amount that you deserve for your losses.

 One thing that you should keep in mind is that once you have agreed to a settlement offer, it is not possible to claim a greater figure later. Therefore, it is essential for you to have proper communication with your lawyer so that you don’t regret your decisions in hindsight.

If you currently reside in Pensacola, Florida. There are several firms that you can visit to find the most suitable Pensacola car accident lawyer and get the settlement offer you deserve.

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