The damages resulting from your accident are going to leave you reeling for a significant time. Your physical and mental recovery is likely to require treatment, and you’ll need to find a way to secure your financial stability. A personal injury lawsuit might give you the avenue you need to offset those losses, but you’ll have to be careful throughout the process if you want to obtain an outcome that’s right for you. That’s why before you accept a settlement offer, an analysis must be conducted on its appropriateness.
How to analyze a personal injury settlement offer
The quick relief and closure that a personal injury settlement provides can be tempting, but given that many settlement offers are worth far less than the claim at hand, you need to be careful that you’re not shortchanging yourself by agreeing to settlement too quickly.
So, as you enter the negotiation process, be sure to keep the following in mind:
- The value of your claim, considering your economic and noneconomic damages.
- How the settlement stacks up to your actual losses.
- The strengths of your personal injury case, ascertainable by scrutinizing the evidence at hand.
- The risks of moving forward with trial, which might include a delayed recovery or being awarded something less than the settlement offer.
- How quickly you need cash to stem the flow of your losses.
- Your willingness to deal with the time and stress of trial.
Only you can decide whether a settlement offer is right for you. So, carefully consider these elements before making your choice.
Build the aggressive personal injury case you deserve
You’re not going to be handed what you’re owed in your personal injury case. Rather, you’re going to have to fight for it. With that in mind, there’s no time like the present to start building the effective personal injury arguments you’ll want on your side going into negotiations and trial.