You should only accept the offer if it’s fair to you and meets your needs following the accident. Even if the insurance company settlement offer on your accident claim seems fair to you, it may not be. There are a whole string of expenses that may result from a serious accident and you need to take these into account before deciding whether you should accept the insurance company settlement offer on your accident claim.
Some of these expenses may present you with lifelong financial burdens. And some injuries, like whiplash, can take a while to appear following an accident. Sometimes you lose your family’s primary income earner to an accident, or you lose at least some of your own wage-earning capacity because of disabilities caused by the accident. For instance, a major brain trauma can incapacitate a person for life.
But you need to seek medical diagnosis and treatment right away following your Texas accident. If you wait, and your failure to obtain treatment makes your injuries more severe, the insurance company can use your failure to seek prompt treatment to show that you caused or contributed to the severity of your injuries. This can result in drastic reduction of your compensation amount or in denial of your claim.
There are several things you need to consider before deciding whether you should accept the insurance company settlement offer on your accident claim.
1. The cost of the medical expenses you’ve already incurred from the accident.
2. Potential costs of the medical expenses you may have in the future because of your accident.
3. Have all of your accident injuries been discovered and diagnosed yet?
4. The amount of the wages you lost while recovering from the accident.
5. Has your ability to work and earn income been permanently reduced by injuries and disabilities from the accident?
6. Did you lose the family member who was your primary source of financial support to the accident?
7. Did you have property (such as a car) damaged by the accident that you will have to repair or replace?
8. What has your mental and emotional anguish from the accident cost you?
9. What is the value of your pain and suffering from your accident?
10. Were you disfigured by the accident and how many surgeries will you have to undergo to try and repair the damage?
11. The cost of funeral expenses for loved ones lost to the accident.
12. The value of the unique family relationship you lost if a loved one dies in the accident.
The likelihood of any promotions or salary increases,
Your likelihood of remaining in that career,
Possible cost of living increases, and
The chance of enhanced earnings capacity from future education or training.
To accurately determine whether you should accept the insurance company settlement offer on your accident claim, you almost certainly need the help of an experienced accident attorney. His years of experience would give him solid knowledge of the fair value of your claim in the context of your specific situation and accident circumstances. Your accident attorney would know the range of values that courts, juries and insurers have come to accept as valid for particular claims. Your experienced accident attorney could provide the sound legal advice you need to know whether you should accept the insurance company settlement offer on your accident claim or not.
If you need an experienced accident attorney to help you determine the true value of your case, you need look no further. Chad Points and Tony Denena are Texas Board Certified personal injury attorneys. We have more than 12 years of experience helping Texas clients to know when to accept a settlement offer or when to take opposing parties to trial to win a fair compensation amount.
We’ve aggressively negotiated fair settlements for our clients against major insurers like State Farm and Allstate. And we’re also proven trial lawyers who have guided clients successfully through litigation against difficult defendants and insurers to win the just compensation they deserve. We could help you too. Call us today. You’ll receive a free legal consultation to discuss your accident, legal options, and possible outcomes. You can also receive a free book on making winning accident claims in Texas.