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Understanding The Truth About A Fair Personal Injury Settlement

When you’re injured in an accident, your recovery will be the single most important focus in your life for some time. But, it’s important to understand that you may have to recover in a physical and financial sense. Medical professionals offer help with your healing, but what about your financial recovery?

Seeking a settlement through a personal injury case is one of the only ways to get a full recovery, and even those filing a claim with their own insurance company may end up discovering that it can be difficult to reach a point where you can make a total financial recovery. As such, getting help is important. However, it all starts with understanding the different truths about a personal injury lawsuit and your settlement.

The Truth About Those Settlement Offers

The biggest thing that injured victims need to keep in mind is that those initial settlement offers you may receive from an insurance company are very likely to be too good to be true. The reason? Because they’re usually an offer that is made to try to get you to accept it on the rounds that you can’t seek additional compensation thereafter. In other words, you accept the settlement and then can’t collect any additional funds.

This is made worse by the fact that the settlements you’re initially offered will usually be far smaller than what you are really entitled to. As a result, you end up accepting money that barely covers your expenses and leaves you still struggling to recover. In short, those initial settlement offers are just a shady tactic used by the insurance companies to save themselves money – and leave you still trying to recover.

What Makes A Fair Settlement?

There are numerous ways that an accident could impact your finances negatively, and it’s important that each of these be considered when creating a fair settlement for your case. Some of the different things that you’ll have to think about include:

• Medical Costs – This needs to include the medical costs of your accident and recovery as well as your estimated future medical costs.

• Lost Income – Missing work due to an accident means that you miss out on income. Lost income can have a negative impact on your salary, as such you need to make sure that it’s included in your settlement.

• Costs Of Disability – Long term disability can lead to significant costs, include a negative impact on things like your ability to earn, missed promotions and pay increases, reduction on your retirement funds, negative impact on your medical insurance, and more.

• Property Damage – You could also be compensated for the damages done to your personal property and the overall costs that can be incurred due to its repair.

• Non-Monetary Losses – These may also be considered, especially when a case goes to trial. They include things like compensation for our pain and suffering. They’re also one of the biggest reasons that insurance companies will usually want to settle out of court.

Be sure that each of these is included in your settlement or you could end up still in a situation where you struggle to make a full recovery after an accident.

How Does A Lawyer Get You What You Really Deserve?

Your attorney will work with medical professionals and financial experts to create an accurate look at the real cost of your accident and what it will take to fully financially recover from it. Then, they fight to make sure that you receive that amount in a settlement – or through a trial if needed.

In short, there are more costs associated with an accident and injury than you may realize. Seeking compensation through a personal injury lawsuit is important to make sure you can get back on your feet and move on following an injury.

Michael J. Babboni's wide-ranging legal career is based on the strong belief that everyone should be treated fairly and have access to effective legal help. Michael began putting his beliefs in action by helping the people of St. Petersburg Florida get what they are owed in civil trials fighting to protect families by making corporations pay, and honor their obligations.

Understanding The Truth About A Fair Personal Injury Settlement

Goldman Babboni Fernandez
Murphy & Walsh

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