Unsure if you should accept a settlement from your insurance company following a motorcycle accident? It is understandable if you are unsure about the best option for you. While this decision is yours to make, you do not have to reach this conclusion on your own.
One of the most important roles your attorney can fill is providing you insight into an insurance offer. Not every offer is in your best interest, and some offers are not made in good faith. While you can settle your claim yourself, there are serious risks that come with that approach. An attorney could prevent you from making serious errors that put your recovery at risk.
Timing Is Important
If you are like most people, you would prefer to accept a settlement offer from the insurance company and resolve your claim as soon as possible. The reality is that rushing a settlement is usually not in your best interest. Taking time to get the settlement right is important, as you only get one chance to resolve your claim with the carrier.
It is vital that you reach a settlement that will meet your current and future needs. This is because you only have one chance to settle your claim with an insurance carrier. Once a settlement is reached, you no longer have the opportunity to seek additional compensation from the insurance company.
If you settle your case too soon, it may be impossible for you to identify the full value of your claim. If you require additional medical treatment following your settlement, you will be forced to cover that on your own. That is why it is recommended not to accept a settlement offer until you have reached the maximum potential recovery from your injuries.
For a free legal consultation, call 317-636-7777
Valuing Your Claim
Not all settlement offers are created equal. Some settlement offers might be reasonable, while others can be worth pennies on the dollar compared to the actual value of your claim. It is important to accurately place a dollar value on your claim before you accept a settlement offer. Some of the factors that could impact the value of your case include:
The Extent of Your Injuries
In general, the value of a personal injury claim goes up when injuries are severe. These injuries often result in higher medical expenses, more time away from work, and more severe physical pain.
Delays in Bringing Your Case
Any personal injury lawsuit is subject to the statute of limitations. That means if you fail to resolve your case or file a lawsuit before the deadline expires, your ability to pursue an insurance claim comes to an end.
Sharing in Fault for the Accident
If the other party is entirely at fault for your motorcycle accident, you have the opportunity to recover all of your damages. However, sharing fault in the accident could reduce the value of your claim. The greater your share of fault, the lower your settlement offers might be.
How an Attorney Could Help
With so many factors in play during the course of a motorcycle accident case, it can be overwhelming to try and resolve these claims favorably. The good news is that you have no obligation to reach an insurance settlement on your own. An attorney could help you secure the outcome you deserve in a number of ways.
First, your attorney could use their experience and skill to determine the potential value of your case. Although your attorney cannot guarantee a specific result, they could show you what you might expect should your case go to trial. This could inform you on whether or not a settlement offer is worth taking.
An attorney could also deal directly with the insurance company on your behalf. Insurance adjusters will often go to great lengths to avoid paying claims. One of the tactics they often use is twisting the words of injury victims to suggest that they have taken responsibility for an accident. When an attorney is on your case, you can avoid any contact with adjusters entirely.
Your attorney could also ensure your compliance with the statute of limitations. Working within the timeline set by the statute is crucial to the success of your case.
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Talk to an Attorney About Your Motorcycle Accident Claim
If you are wondering if you should accept a settlement from your insurance company following a motorcycle accident, an attorney could advise you on your options. Before you accept or reject an offer to settle your case, an attorney could advise you on what you might be entitled to if your case went to trial. This could inform you if your offer is work taking or not.
Let the team at Sevenish Law Firm, P.C. advise you on your settlement options. Call for a free consultation right away.
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