Often times when you are in a car accident you will have to deal with the insurance company and an insurance adjuster. Accidents can be traumatic and costly, which could lead to a mountain of debt. If you decide file a personal injury claim, you may be entitled to compensation from the at-fault driver’s insurance company.
But beware, the insurance company is going to try and pay you very little for your pain and suffering so they can keep the company from losing money. The job of an insurance adjuster is to save the insurance company money. In most cases, they will try to offer you a settlement which is typically low. Before you decide to accept or reject an offer you should consult with an experienced personal injury attorney. One who can walk you through the settlement process and explain why you should reject the very first offer.
A settlement offer comes before a settlement agreement, but you need to understand what a settlement is before we explain a settlement offer.
A settlement agreement happens when both parties come together stating what they are willing to offer, and what they are willing to receive. This often includes monetary offers. There are two types of settlement agreements lump-sum and structured.
A lump-sum settlement will be paid to you all at once, while a structured settlement is paid for a set number of years or possibly the rest of your life.
A settlement offer requires both the injured party and the insurance company to agree with the terms of the offer. In most cases, an insurance company will offer the lowest amount they can give you without going to court. They may try to convince you that their first offer is also going to be their best offer ignoring any long-term distresses that you may have from the accident. Again, this is why you need an experienced injury attorney guiding you through the settlement process.
In order to ensure you are getting the very best settlement from the insurance company, it is imperative that you hire a personal injury attorney, making sure you are documenting everything you’ve experienced since your car accident. Most often, insurance adjusters want to settle out of court to avoid costly litigation.
At Hardee, Massey & Blodgett we want what is best for you in your personal injury case. We will fight for you and if we need to fight in court, we have the experience and are ready to do so. Contact us today for your free case evaluation.