What if the insurance company offers me a settlement?

What is the insurance company offered me settlement? How will I know if it is the right settlment amount?

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Answered By: The Law Firm of Shawn M. Murray

Call now: (985) 624-9393

You won't because you will have no idea what the value of your claim is and you can be sure that the insurance company knows that and will low-ball you with their offer. Additionally, there are MANY mistakes that you can make throughout the pendency of your claim that can drastically decrease the value and even jeopardize your claim altogether. You should consult with an experienced Workers' Compensation attorney right away.

Answer Applies to: Louisiana - Replied: 6/4/2012

Answered By: Law Offices of Robert D. Ahearn

Call now: (617) 773-8890

You probably will not know. You should consult a professional.

Answer Applies to: Massachusetts - Replied: 6/1/2012

Answered By: Law Office of Jared Altman

Call now: (914) 737-0200

There's no precise way to know.

Answer Applies to: New York - Replied: 5/31/2012

Answered By: The Law Office of Harry E. Hudson, Jr.

Call now: (209) 463-9715

No offense but how is any person on thos forum going to know when there is no comment about the nature of the injuries, medical expenses, lost wages, the nature of the event causing the injury. You have two options. Hire counsel or do some research in publications such as jury verdicts.

Answer Applies to: California - Replied: 5/31/2012

Answered By: Fox Law Firm LLC

Call now: (630) 963-5172

Your best bet is to be represented by an attorney. The insurance companies goals are to settle the case in the least amount of time for the lease amount of money and we will fight for you to make sure you receive what you deserve

Answer Applies to: Illinois - Replied: 5/31/2012

Answered By: Tuttle and Associates

Call now: (425) 881-9100

You won't. The value of injury claims are based on a number of criteria.
You can do jury verdict research to find similar cases, but you have to gain access to the databases and know what you are looking for. You should contact an attorney to discuss what is being offered. Statistically, insurance companies pay unrepresented claimants 5 to 7 times less than represented claimants.

Answer Applies to: Washington - Replied: 5/31/2012

Answered By: Evan Guthrie Law Firm

Call now: (843) 926-3813

The right amount should be one that properly compensates you for all of your expenses plus other factors such as pain and suffering and other factors that you might not think of. A personal injury attorney might be able to help with you negotiate if you are in a settlement phase.

Answer Applies to: South Carolina - Replied: 5/31/2012

Answered By: James M. Osak, P.C.

Call now: (248) 515-9807

Talk to your attorney about it. You don't have an attorney? GET ONE! The Insurance company will most likely "LOW-BALL" you a number to get rid of your claim. If you like the number then take it. But don't complain about it later!

Answer Applies to: Michigan - Replied: 5/31/2012

Answered By: Law Offices of Tom Patton

Call now: (503) 546-3357

The only way to know is to consult with an experienced injury attorney. Good news: it's nearly always fee! Most attorneys will provide you with a learned assessment of your likely result so you can make an informed decision on how best to proceed. In my first consultations, I spend about 20 minutes asking about a potential client's case and make an evaluation. I nearly always tell people to try to settle on their own for the amount I think their case is worth, less the one-third attorney fee. Then if they can't get a fairly close offer, which frankly is rare, they hire me and get it through my efforts. But on occasion, I'll hear that they have received a fair offer, and I'll tell them to take it.

Answer Applies to: Oregon - Replied: 5/31/2012

Answered By: Jones Jones & Mosley PA

Call now: (601) 957-5747

What is the "right" settlement amount is different in every case. Many factors are involved in determining what is fair. Your attorney will evaluate your damages, the venue, the defendant and much more in helping you to decide whether a particular settlement amount is fair.

Answer Applies to: Mississippi - Replied: 5/31/2012

Answered By: Lapin Law Offices

Call now: (402) 421-8033

You ask two different, but related, questions that I will address separately. Question 1: What if the insurance company offers me a settlement? If it is the insurance company's first offer you should probably reject it. Most insurance companies will usually make more than 1 offer. Each offer they make will be for more money than the previous. Question 2: How will I know if it is the right settlement amount? Each case is different and its value is based on its particular facts. There is no magic formula to determine what a case is worth. A person is entitled to be "made whole" or "compensated" for all injuries and damages they sustained in a personal injury case. There are a number of factors that determine what a case is worth. Some of these include, but are not limited to: the nature and extent of the injury; whether an injury is temporary or permanent; your medical expenses; your lost wages; and pain and suffering. If an injury is permanent, you may be entitled to additional money for the items listed in the future such as if you will have future medical expenses. While you can look at databases of settlements and verdicts with similar facts and injuries, these only would provide a range of possible settlement values. A "settlement" by its very nature is a compromise reached between an injured person and the insurance company. Settlements are made to avoid the risks of going to trial where a jury or judge can award a very small amount, which would be bad for you, or a large amount, which would be bad for the insurance company. The "right" settlement is any amount you could accept that "compensates" you for your injuries and damages and leaves you with little or no regrets. You must also balance a settlement offer against the risks of not settling, which would be filing a lawsuit and letting a judge or jury decide what your case is worth. For example, if the offer is too low based on your injuries and damages, such as you end up with little or no money after your medical bills are paid, you risk very little by not settling. I would strongly suggest contacting a personal injury attorney to discuss your case. Most offer a free initial consultation and you can get more information about the possible value of your case.

Answer Applies to: Nebraska - Replied: 5/31/2012

Answered By: Law Office of Gregory Crain

Call now: (501) 332-4300

You have to calculate your damages.

Answer Applies to: Arkansas - Replied: 5/31/2012

Answered By: Law Offices of Ronald A. Steinberg & Associates

Call now: (248) 932-3230

If you are working without a lawyer, then I can almost guaranty that it is NOT the right amount.

Answer Applies to: Michigan - Replied: 5/31/2012

Answered By: W Morris Taylor, PC

Call now: (314) 725-7000

In all likelihood you won't ; individuals are not likely to know or recover the best results

Answer Applies to: Missouri - Replied: 5/31/2012

Answered By: Pingelton Law Firm

Call now: (573) 449-5091

It probably isn't. Insurance companies hardly ever offer an amount that you could get if you had a lawyer.

Answer Applies to: Missouri - Replied: 5/31/2012

Answered By: Salladay Law Office

Call now: (208) 333-9600

You won't know if it is the "right settlement amount",. If you choose to represent yourself, then the decision to settle or not has to be based on your own judgment. If you had an attorney assisting you he/she could provide guidance, but ultimately the decision is always going to be yours and you have to decide whether you are personally comfortable with the settlement amount offered.

Answer Applies to: Idaho - Replied: 5/31/2012

Answered By: LEATHERS LAW FIRM

Call now: (205) 487-4301

Generally when an isurance company offerse you a settlement, they will offer you the least amount they can in hopes you will accept. You need to consult with an attorney.

Answer Applies to: Alabama - Replied: 5/31/2012

Answered By: Ford, Howard & Cornett, P.C.

Call now: (256) 546-5432

There is no magic "right amount" on a personal injury claim. You have to decide if you are willing to settle for the amount offered. An attorney might be able to negotiate a higher settlement, but the attorney will likely take a portion of the settlement as a fee (so you may or may not net more with an attorney). I generally suggest that people get the insurance company's best offer and then consult with an attorney. If the attorney thinks he/she can get you more, then offer the attorney a contingency fee on the amount above the insurance company offer that the attorney recovers. You've already secured an offer from the insurance company. If an attorney thinks he/she can do better for you, then the lawyer should be willing to take a fee just on the increase/improvement obtained by the lawyer's efforts. If the attorney wants a cut of the whole recovery, that is a pretty good indication that the attorney is not confident that he/she can improve on what the insurance company has already offered.

Answer Applies to: Alabama - Replied: 5/31/2012

Answered By: Bernard Huff, Attorney/Mediator

Call now: (317) 542-8540

You should seek legal advice from a plaintiff's personal injury or accident attorney. You may seek referrals from the local bar association.

Answer Applies to: Indiana - Replied: 5/31/2012

Answered By: Jules D'Alessandro

Call now: (401) 621-9990

Whatever an insurance company initially offers as a settlement is never enough and certainly not the most they are willing to pay. Insurance companies will always try to delay the claim and pay as little as possible. They will not tell you or offer to pay for pain and suffering, scarring or permanency. Ultimately, the "value" of a personal injury claim is driven by the specific facts of the case, and include the cost of medicals, the severity of the disability, total or partial, the length , type and cost of the medical treatment as well as any permanent total or partial disability. Lost wages both past and present and/or lost earning capacity must also be factored into the value of the claim.

Answer Applies to: Rhode Island - Replied: 5/31/2012

Answered By: Andrew T. Velonis, P.C.

Call now: (315) 579-3108

Assessment of an appropriate settlement requires detailed analysis of liability and damages, including application of legal principles, evidenciary factors, medical documentation and experience in your jurisdiction as to likely range of prospective jury awards. My recommendation is: don't get ahead of yourself. They have not yet made an offer, so it's useless to speculate as to whether it is the right amount. Focus on proving your claim. Talk about money when there's money on the table.

Answer Applies to: New York - Replied: 5/31/2012

Answered By: Howes & Anderson, P.C.

Call now: (515) 225-9000

Depending upon the circumstances of your injury and accident you may be entitled to many types of damages for your claim. For example you would be entitled to reimbursement for all reasonable and necessary medical expenses related to your injury; compensation for lost wages or time; compensation for pain and suffering; compensation for any disability and compensation for lost enjoyment of life to name a few categories to consider. There is no exact measure of damages for your claims, but you may want to consider contacting an experience personal injury lawyer to evaluate your case and give you an opinion on what other similar cases have settled for or what juries have awarded in similar cases.

Answer Applies to: Iowa - Replied: 5/31/2012

Answered By: Kelaher Law Offices, P.A.

Call now: (407) 841-7698

You won't, because you have no frame of reference. I would suggest you consult with a personal injury lawyer, and get his or her opinion. If he tells you that the offer is insufficient, ask him (or her) if he (or she) will represent you for 50% above whatever the offer is.

Answer Applies to: Florida - Replied: 5/31/2012

Answered By: Paul Whitfield and Associates P.A.

Call now: (704) 372-8322

Depends on the issues of liability, amount of damage, type of injury, significance of injury, amount of medical bills, and whether ny permanency.

Answer Applies to: North Carolina - Replied: 5/31/2012

Answered By: Dwyer, Black & Lyle, LLP

Call now: (716) 373-1920

Your attorney can answer that for you. There are a lot of factors that go into that decision. Typically, a comparable case analysis is done and then modified based on venue, liability, and a myriad of other factors. Good luck.

Answer Applies to: New York - Replied: 5/31/2012

Answered By: Lombardi Law Firm

Call now: (515) 222-1110

Well, without knowing more I'd say you have to gauge the fairness of the amount offered based on the evidence in the personal injury case. We consider medical bills both past and future, pain and suffering from the past and expected in the future, lost wages, a reduced earning capacity, property damage and other elements of recognized damages.

Answer Applies to: Iowa - Replied: 5/31/2012

Answered By: Garruto & Calabria, LLC

Call now: (973) 661-4455

Discuss the settlement with someone who knows values in a personal injury case. In my experience, if an insurance company offers money to an injured person, it's a lowball offer to get rid of you cheap. IMHO, you should speak with a personal injury lawyer.

Answer Applies to: New Jersey - Replied: 5/31/2012

Answered By: Carter Boyle LLC

Call now: (303) 501-1825

You need to talk to a lawyer that handles the type of insurance claim that you have. Most lawyers, like my firm, will talk to you for no charge and will represent people on a contingent basis if they need a lawyer. Sometimes you do. Without knowing lots more info, I cannot be more specific.

Answer Applies to: Colorado - Replied: 5/31/2012

Answered By: Alvin Lundgren

Call now: (801) 876-4422

Insurance companies always offer less than you may be entitled to. Insurance companies also tell injured that getting a lawyer will not get them more. They lie. Depending on the facts a good attorney can usually get you significantly more than the insurance company offers. Attorneys also know how to evaluate cases for proper damage awards.

Answer Applies to: Utah - Replied: 5/30/2012

Answered By: Law Offices of David W. Hibbert

Call now: (770) 414-8055

What do you think your case is worth? How much does it take to undo the damage done to you? Really, no one but the jury hearing the evidence in your case will be able to tell you what the case is ultimately worth. Many factors will go into the fight to determine what the value of your claim may be. The include the location where the case would be tried, the amount of injury, permanent or temporary impairment, the bills incurred in your treatment , the other expenses you may incur as a result of the injury , the loss of earnings and lost capacity to earn in the future. Other factor will be involved as well, including your desire for a quick settlement or full compensation for the injury done. Insurance companies know many people will take less if they get money now, and they will offer a "lowball" settlement.

Answer Applies to: Georgia - Replied: 5/30/2012

Answered By: The Law Office of Stephen R. Chesley, LLC

Call now: (718) 569-8738

The right settlement is the one you feel comfortable with. THere is no magic number or value, just ball parks. You would have to determine what other people with similar injuries received for their injuries and consider the liability involved. You would take other variables and enter them into the equation It is determined based upon the liability and the damages involved. Generally, you would look to what others have gotten with similar injuries under similar circumstances to determine a ball park figure.

Answer Applies to: New York - Replied: 5/30/2012

Answered By: Paris Blank LLP

Call now: (804) 355-0691

You will never know. Without a lawyer, you can bet the offer will be less than the right amount.

Answer Applies to: Virginia - Replied: 5/30/2012

Answered By: Broad Law Firm, LLC

Call now: (317) 566-2134

If you want to be certain that the settlement being offered to you is a fair amount, you should seek advice from a personal injury attorney in your area.

Answer Applies to: Indiana - Replied: 5/30/2012

Answered By: Law Offices of Stanley S. Lopata

Call now: (818) 981-3100

The insurance company will offer you a settlement based on their evaluation of your claim. If they feel that the person or business that injured you was at fault, they will try to settle your claim as soon as possible and for ad little money to you as possible. The amount that they will offer is generally less than you can get using a lawyer to help you deal with the insurance company. You have to evaluate, in your own mind, if the offer is sufficient. If you do not think that the insurance company has offered you enough money than you ought to reject the offer and discuss the claim with a lawyer. Most lawyers will be happy to discuss the offer with you and the chances of getting you more money than was offered.

Answer Applies to: California - Replied: 5/30/2012

Answered By: Downriver Injury and Auto Law

Call now: (734) 307-3800

The insurance company is the business to offer you the lowest amount you will accept. The lawyer will get you the most that he can. His or her income depends on an adequate settlement.

Answer Applies to: Michigan - Replied: 5/30/2012

Answered By: Musilli Brennan Associates PLLC

Call now: (586) 778-0900

Generally they will offer a low settlement. Call or see an attorney.

Answer Applies to: Michigan - Replied: 5/30/2012

Answered By: Law Office of Russell D. Gray, PC

Call now: (801) 305-4851

You'll know it is the right settlement amount if it pays all the medical bills, lost wages, and also compensates you for pain and suffering. If you want to make sure you're getting a good settlement, hire an attorney.

Answer Applies to: Utah - Replied: 5/30/2012

Answered By: DEAN T. JENNINGS, P.C.

Call now: (712) 256-1400

You won't. Get a lawyer to evaluate you claim.

Answer Applies to: Iowa - Replied: 5/30/2012

Answered By: Anthony Urie, PLLC

Call now: (206) 859-3400

You never know if a settlement is the right settlement. I would advise that you contact an attorney to discuss the settlement offer with which would include issues from how bad to you need money at the time of the offer, as to your assessment of the accident and the possibility of future pain, suffering, loss of income etc. There is no magical formula but an experienced attorney can provide guidance and a cost benefit analysis.

Answer Applies to: Washington - Replied: 5/30/2012

Answered By: Klisz Law Office, PLLC

Call now: (313) 402-0853

It likely will not be a reasonable amount without an attorney on board. Insurers are notoriously unfair when dealing with unrepresented folks.

Answer Applies to: Michigan - Replied: 5/30/2012

Answered By: Law Offices of Linh T. Nguyen

Call now: (916) 509-7200

If an insurance company is offering you money shortly after your accident, it could be an indication that they recognize you have a good claim and are attempting to low ball you. Accepting a small settlement without reviewing your options with an attorney and understanding the value of your claim can result in a smaller settlement than you deserve. An experienced personal injury attorney can review the facts with you and be a strong and aggressive advocate. Most will offer free consultation as well. Good luck.

Answer Applies to: California - Replied: 5/30/2012

Answered By: Darrell B. Reynolds, P.C.

Call now: (404) 636-6616

Usually the insurance company never offers a fair amount if an attorney is not involved.

Answer Applies to: Georgia - Replied: 5/30/2012

Answered By: John Russo

Call now: (401) 351-9797

There is no easy answer but for starters you need to add up your specials, what I mean is, all your medicals, and any lost wages which would include any vacation and sick pay you used up while you were out of work, also, remember any temporary disability payments you receive most CANNOT be used against your lost income, i.e. you lost $1,000.00 in income while you were out and you received $1,200.00 in disability payments your lost income is still $1,000.00; but be careful this does not mean workmen's comp. payments they are used for an offset. So specials are lost income plus damages that are out of pocket cost, and/or any liens against your claim i.e. blue cross or hospitals, etc. So your settlement would at a minimum have to cover all of the above plus any property losses. Then you have to value any pain and suffering to your claim as well as possible punitive damages, but be careful punitive awards are taxable. Not easy, the best advice retain a Personal injury Lawyer, remember they only get paid if you do.

Answer Applies to: Rhode Island - Replied: 5/30/2012

Answered By: Frank Law Group, P.C.

Call now: (530) 887-8585

Without being too cynical, if the insurance company is offering it and you are unrepresented, it is NOT the "right settlement." Would suggest you at least consult an attorney who specializes in personal injury to at least run the facts of the claim by before signing any release and agreeing to settle the case.

Answer Applies to: California - Replied: 5/30/2012

Answered By: Gebler & Weiss, P.C.

Call now: (818) 876-9552

If you are representing yourself and the insurance company offers you a settlement, it will usually be too low. An attorney would be able to tell you if the offer is reasonable.

Answer Applies to: California - Replied: 5/30/2012

Answered By: Pearson, Butler, & Carson, PLLC

Call now: (801) 495-4104

If the insurance company offers you a settlement, it is likely very low. Also, sometime they offer you a settlement before you are even done treating. You should always consult an attorney before signing any legal documents.

Answer Applies to: Utah - Replied: 5/30/2012

Answered By: Bruce Plesser

Call now: (727) 421-9784

If you have a lawyer, he will know. If not the insurance company will abuse you.

Answer Applies to: Florida - Replied: 5/30/2012

Answered By: Harris Law Firm, pc

Call now: (503) 648-4777

The only way to know if the settlement offered by an insurance company is fair is if you know what cases with your type of injury and loss settle for in your community. And there are two types of people who can answer that question. An insurance adjustor, and a personal injury lawyer. So you will need to talk to an experienced personal injury attorney. At our office, when someone in your positions retains us, we will agree to make sure that if the case settles we will make sure that you put in your pocket as much as the insurer offered you before you came to us, before we take a penny. Most personal injury attorneys offer free consultations. So, you've got nothing to lose by having an attorney review your case and the offer by the insurance company.

Answer Applies to: Oregon - Replied: 5/30/2012

Answered By: Miller & Harrison, LLC

Call now: (303) 449-2830

Without consulting an attorney it is next to impossible to know if the insurer is being fair with you.

Answer Applies to: Colorado - Replied: 5/30/2012

Disclaimer: The responses above do not form an attorney-client relationship. These answers may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. These attorneys may or may not be admitted to state bar of your state.

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