Receiving an initial offer for a financial settlement to your Virginia personal injury claim is only the first part of the process. After you get your first offer, you need to make sure you get it in writing. This written offer should also include:
- An appropriate time frame to consider the offer
- The precise dollar amount of the offer
- The express details of who will be free from liability if the settlement offer is accepted
- Any stipulations, conditions, or provisos attached to the offer
What information should I have before I consider a settlement offer for my Virginia personal injury case?
Before accepting or rejecting any settlement offer for an injury caused by another person’s negligence, you should have a complete understanding of what you need to recover. Most first-time personal injury victims have no frame of reference for this.
Although it is true that the majority of Virginia personal injury cases are settled out of court, the process still involves multiple back-and-forth negotiations. A satisfactory solution for a claim involving serious injuries will take planning, time, skill, and resources.
Working with an experienced Virginia personal injury lawyer from Shapiro, Washburn & Sharp will give you your best shot at an equitable recovery.
Always Work With an Experienced Lawyer
It is not uncommon for insurance adjustors to approach victims with a lowball settlement fairly quickly. They are hoping you don’t know the full extent of your injuries and will accept their disingenuous offer without question. Before the insurance adjuster attempts to contact you, you need to consult with a lawyer who is able to:
- Review your claim
- Give an accurate estimate of what would be considered adequate compensation
- Use their resources to thoroughly investigate your accident
- Advocate for your rights and best interests
- Take on the burden of settlement negotiations
Once it is signed, a settlement offer becomes a binding legal contract. Unfortunately, insurance companies have entire legal teams prioritizing their corporate profits, so the offer you received might not be as straightforward as it appears, and you can easily make an expensive mistake.
Full Physical Recovery Takes Time
Never settle for less than what it will take to make you whole after your accident. There is no need for you to request a settlement until a timeline for maximum medical improvement has been established.
Once the timeline has been determined, your lawyer can analyze the value of your:
- Medical costs, including current and projected costs
- Therapy and rehabilitation services
- Mental health resources or services
- Lost wages and benefits due to being unable to work
- Projected lost income and benefits
- Worker retraining programs
- Damage to personal property
- Transportation expenses due to having no vehicle or being unable to drive
- Workers employed to manage household duties
Medical research has proven that accident victims often experience psychological issues such as depression, severe anxiety, or post-traumatic stress disorder. These conditions are serious and can impede the victim’s ability to work, disrupt their personal relationships, and cause them to develop an abnormal fear of social situations.
Our qualified personal injury lawyers can corroborate these and other mental health problems and show cause for full compensation by:
- Submitting testimony from mental health and medical experts
- Submitting the victim’s impact statement
- Deposing the victim’s colleagues, friends, and family
When you have strong legal representation, it lets the insurance company know that you are determined to collect a fair compensation package.
What You Can Expect From an Insurance Company
The claims agent assigned to your case is working on behalf of the respondent’s insurance provider. Major insurance companies have an entire network of attorneys, investigators, medical experts, and accident reconstruction experts at their beck and call. In most instances, the adjuster will push you to agree to a quick settlement in order to minimize the company’s payout and avoid an expensive trial.
The adjuster will try to take advantage of your lack of legal knowledge, vulnerability, and your presumed need for immediate financial aid. They are concerned with their own agenda and not what is best for you and your family. It is equally probable that the adjuster will delay the proceedings in the hopes that you miss vital deadlines.
You should expect:
- The insurance carrier to immediately begin trying to discredit your claim
- The insurance carrier to monitor all of your social media accounts for any information they can use against you
- Excessive delays
- Deceitful practices
By having an experienced lawyer on your side with the resources necessary to negotiate the maximum settlement, you have leveled the playing field. Our personal injury attorneys help accident victims make informed and prudent decisions.
Are You Considering Filing a Virginia Personal Injury Claim?
An injury that was caused by someone’s negligent, reckless, or deliberate conduct is always a devastating experience. The injuries a victim sustains could be permanent and adversely impact every area of their lives. That is why they are entitled to pursue financial compensation. Reach out to a Virginia personal injury attorney from Shapiro, Washburn & Sharp today for a free case evaluation. We can be reached at (833) 997-1774 or through our online form.