What is a Good Settlement Offer?

What is a Good Settlement Offer?

A good settlement offer will reasonably compensate you for the financial, physical, emotional injuries that come with a car accident. There is no formula that will determine whether a settlement offer is fair or not. Ultimately, determining if a settlement offer is fair is up to you. The good news is that the Los Angeles car accident attorneys of Ellis Injury Law will work tirelessly to get you the compensation you need. 

The vast majority of injury claims result in some form of settlement. Not all settlements are created equally, however. The best way to ensure “fair” settlement offers from the at-fault party is through building a strong claim for negligence. By proving you are likely to prevail at trial, you increase the odds of receiving a fair settlement offer.  

Consider liability 

It is important to hold up any settlement offer to what you reasonably believe you could recover from a verdict at trial. The strength of your liability claim will determine what trial verdict you can expect. If liability is clear in your case, you are more likely to recover the damages you are seeking.  

In some cases, liability might not be clear. Accidents that occur in intersections often lead to both drivers pointing the finger at each other. This is even more common when there are no independent witnesses to the crash. When liability is in question, it may be in your best interest to compromise on the settlement amount.  

Analyzing damages 

After considering your liability, the next step is to evaluate your damages. Your damages will largely center on the injuries you suffer. As the severity of your injuries increases, so does the potential compensation you could recover. Your car accident lawyers could advise you of the damages you are entitled to pursue. These damages could include: 

  • Medical bills. Your financial compensation could include the cost of emergency room visits, ambulance rides, surgical procedures, medication, physical therapy, or chiropractic care.  
  • Lost wages. Severe injuries can keep you out of work for days, weeks, or months. In some cases, these injuries could diminish your earning power forever. You have the right to seek compensation for these lost wages.  
  • Pain and suffering. You could recover monetary damages for the physical suffering resulting from your crash. These damages could increase in scale to your medical bills.  
  • Property damage. You have the right to seek compensation not only for the damage done to your body but also to your personal property as well. Your settlement could cover the cost of repairing or replacing your damaged vehicle.  

Things to consider before accepting a settlement offer 

There are a few factors every injury victim should consider before accepting a personal injury settlement. It is important to make the right decision when it comes to completing the personal injury settlement process. Consider these tips before agreeing to anything with the at-fault party.  

  • You can reject an offer. Not all settlement offers are worth accepting. Insurance companies will often approach these offers as if it is the only number that is possible. You have the right to reject an offer completely or make a counter-proposal.  
  • You only have one chance at settlement. When you resolve a personal injury claim, part of the process includes a release of liability. Once the settlement has completed, you will not be able to seek compensation for the same injury a second time.   
  • Identifying a fair offer requires experience. Without the guidance of a car accident attorney, you likely lack the experience necessary to evaluate your injury claim. Your potential compensation goes beyond your short-term medical expenses. Your attorney can ensure you seek the compensation you deserve.  

Discuss your settlement offer with an attorney 

Your best opportunity to negotiate a good settlement offer for your personal injury claim is with an experienced attorney by your side. By building a strong case for negligence, your attorney can put you in the position to receive the best possible offer. To learn more, schedule a free consultation with Ellis Injury Law right away.