Insurance companies routinely undervalue car crash claims and make lowball offers to victims. The insurance company’s goal is to pay out the smallest possible amount of compensation to protect its profits.
When you consider these factors, it is important to be cautious when considering a settlement offer. You need to make sure the settlement provides full compensation, particularly for costs you may incur long after you sign the offer. While there are rare exceptions, once a settlement is signed, victims can no longer pursue more compensation for their damages.
There are various questions that victims and their attorneys should ask about a settlement offer when deciding whether to accept it. If the answer to any of these questions is “no” or “not enough,” your lawyer may need to make a counteroffer.
As there many things to consider about a settlement offer, it is important to work with an experienced attorney. Schmidt Kramer’s licensed Harrisburg vehicle accident lawyers have been helping car crash victims for decades and we have recovered millions on their behalf.
Have You Shown the Settlement Offer to a Qualified Attorney?
Many crash victims think they either do not need an attorney or do not know the benefits of hiring an attorney. They may think managing the legal process on their own cannot be that difficult.
However, it is very difficult to determine the full value of a claim without help from an experienced attorney. You cannot rely on the insurance company to make a fair offer, especially when it is early in the process. While insurance companies deal with these claims every day, their goals are different than yours.
On the other hand, an attorney’s goals line up with yours. At Schmidt Kramer, we are dedicated to pursuing maximum compensation to help you manage the effects of your injuries. We manage these claims every day and we know how to determine if a settlement offer may provide the compensation the victim needs. We know how to renegotiate a settlement and are prepared to go to court if necessary.
There is nothing to lose by contacting one of our attorneys to discuss your claim. The consultation is free and there is no obligation to hire our firm.
Does the Settlement Pay for Future Damages?
Once you settle, you will probably be unable to pursue more compensation. However, your injuries could impact your life long after the legal process concludes. If those injuries were caused by someone else, you need compensation to pay for things like medical bills, pain and suffering, and lost wages.
Insurance companies often do not account for future damages, and if they do, they may offer a small amount to cover them. However, if you use up your settlement money and still need treatment, will you be able to pay for it out of your own pocket?
If you cannot pay for it, you may be unable to continue your treatment. You may also need to go into debt to pay your medical bills, which could put you and your family in a tough financial situation.
One question injury that victims should ask themselves about an early settlement offer is why? Why is the insurance company making an offer so quickly when doctors have not had the time to determine the long-term impact of my injuries?
There is no way to know the full value of future damages until the victim reaches maximum medical improvement.
Does the Offer Fully Compensate You for Non-Economic Damages?
The value of pain and suffering and other non-economic damages is highly subjective and needs to be assessed on a case-by-case basis. Insurance companies may put an arbitrary value on these damages and try to assure you the offer is fair.
You need an experienced advocate who knows how to evaluate these types of damages because he or she has done it many times before. Schmidt Kramer has been evaluating personal injury claims for 30 years, which includes evaluating the non-economic costs of an injury.
We know compensation cannot change what happened, but it is the law’s way of trying to make up for what happened. Compensation can help victims and their families begin to repair some of the damage done by a preventable injury.
Unsure About a Settlement Offer? Call Schmidt Kramer for Legal Help
Whether you were just injured in a crash or have already filed a claim, our firm may be able to assist you. We know how insurance companies operate and we know how to build a strong case in pursuit of maximum compensation.
Our firm represents car crash victims on contingency, which means no upfront fees or legal obligations. Our lawyers do not get paid unless you get paid through a settlement or courtroom verdict.
We are committed to pursuing maximum compensation on your behalf. We know how important compensation is as victims look to put their lives back together.
Free consultation. No upfront fees. Call (717) 510-1770.