If you have suffered an injury due to someone else’s negligence, you may have a personal injury claim. Settling a personal injury claim often involves negotiations with the at-fault party’s insurance company.
Negotiating a fair settlement can be tricky, but these tips can help you get the compensation you deserve.
Know your worth
Do your research to understand the typical settlement value for your type of injuries. Settlement amounts vary drastically based on the type and severity of the injury, treatment required and potential long-term impacts. This will help you evaluate any settlement offers.
Have realistic expectations
Many factors affect settlement amounts, so maintain realistic expectations. Focus on recovering damages to compensate you for losses suffered rather than aiming for a specific payout. Be prepared to justify claims for non-economic damages such as pain and suffering.
Keep detailed records related to your injury, treatment, lost income and other damages. Medical records, receipts, pay stubs and other documentation will help justify your claimed losses during negotiations.
It may take weeks or months to receive and negotiate a settlement offer. The first offer is often lower than fair value. Do not feel rushed into accepting an unsatisfactory offer. Politely stand your ground in negotiations until you receive a settlement that meets your needs.
Only about 5% of personal injury cases actually make it to trial. Most cases settle out of court instead. Successfully settling an injury claim takes time and a solid understanding of what to expect from the process. With persistence and a sound argument, you can recover the compensation you need to heal and move forward.