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If the Insurance Company Offers Me a Settlement, What Do I Do?

insurance papers with two people at tableIn a time when you need money, you’re dealing with seemingly insurmountable medical expenses, and you’re unable to work, a settlement can be incredibly tempting. It allows you to collect some money and get through the legal matters in a quick way.

However, it’s not always the best option for you. It’s important to weigh out the pros and cons of a settlement offer so you can pursue the outcome that suits your needs the best. Here are some of the steps you should take when you get a settlement offer from the insurance company.

Analyze the Settlement Amount vs. What You Need

Look at the settlement amount closely compared to the expenses you have paid out as a result of your injuries. Does it cover the economic damages you experienced (medical bills, missing income from work, costs of physical therapy, etc.)? Do you feel it is adequate enough to compensate you for your pain and suffering?

These are questions you must ask yourself before making a decision. However, even when you have the answers, you should continue with the following steps just to be sure.

Ask Your Lawyer for His or Her Opinion

Your lawyer is the one who has the information regarding what your case may be worth and whether settling is worth it or not. Your lawyer can explain if that’s the most you’ll be able to receive or if you have a good chance at recovering more by going to trial.

If your attorney feels you can recover maximum compensation in another method, they’ll recommend that route. If the settlement appears to be the necessary amount to cover all losses, your attorney may advise to take it as there are no guarantees that a trial will result in more compensation.

What Matters Most to You?

Before you accept the settlement, think about what matters most. Is it just the compensation, or do you want to pursue justice? Do you want to bring the negligent actions into the public spotlight and hold the defendant fully accountable for their actions? Do you want to incite change, showing people that these types of actions have consequences?

Ask yourself these questions. Our personal injury lawyers will be with you every step of the way to protect your rights and help you understand what options make the most sense for your situation. With Lowe Law Group, you’re in good hands.

Call our firm today at (801) 900-4681.