Although not common, in a personal injury case, there are times when it might make more sense for a claimant to accept a lower settlement than what they believe they are owed. It is important to hire a seasoned personal injury law firm to represent your accident claim in order to obtain the fullest and fairest amount of compensation for your damages and losses. With a skilled and experienced law firm in your corner, you do not have to be concerned about low settlement offers. However, it may help to learn what circumstances could lead some claimants to agree to lower compensation.
Continue reading to learn these scenarios, and where get professional legal advice regarding your personal injury claim.
Low Settlement Offers
It is never recommended to take a low offer when making a claim against someone who has caused you serious injuries and damages. In every case, you should always negotiate for the best settlement possible, however, there are times when it does occur because it is the more sensible option compared to taking a claim to trial. Here are three common examples of when this might happen:
☛ The claimant’s case is weak or uncertain because they may not have enough evidence to prove all of the elements of their case in court. They would be better offer accepting whatever offer is put on the table before a lawsuit is considered, otherwise, they could walk away with nothing in the end.
☛ The claimant’s injuries and ultimate losses are minor, small, or fairly minimal. For instance, a claim should be intended to recover compensation for losses like medical bills, lost wages, pain, suffering, and similar consequences. If their damages and losses do not mount up to much, and/or their injuries are insignificant, a lower offer is likely the best option.
☛ The claimant’s settlement offer is at the maximum of the policy limits, so no more can be paid out even if the settlement seems too low. For example, if the opposing party’s liability insurance policy is set at a maximum of $25,000, and that is the settlement they offer, a claimant is not likely to get more than that even if they are awarded a larger amount in court. Large corporations are an exception to this since they tend to have more money and assets outside of their insurance policies; but a private party may not have the assets to pay out more, even if ordered to in court. In any event, defendants can also file for bankruptcy which can significantly negatively affect any chance of any recovery above and beyond liability insurance policy limits.
Keep in mind that once a claimant accepts an offer, there is no turning back. This means that in the case that their injuries worsen or their damages add up in cost later on, they cannot make another claim for more compensation. Be sure to have a licensed personal injury lawyer working your claim as soon as possible after the injury or death occurs to ensure your rights to compensation are fully protected and executed.
Where to Get Trusted Legal Advice
Call The Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to make a personal injury claim in Indianapolis, Indiana and anywhere else throughout the State of Indiana. We are well-versed and experienced in several practice areas, from slip and fall accident claims, to car accidents, big truck accidents, workers’ compensation, wrongful death, and much more. When you walk into our office for your free consultation, you will instantly feel confident that you are in good hands. Call 317-881-2700 to get started, today.