Parameters of a Full Settlement
Many people do not fully understand what constitutes a fair and complete settlement. Instead, an injured party hears the term full compensation and simply assumes they are receiving everything they are entitled to after an accident. But just because an Insurance company offers you a settlement quickly and tells you it is complete, that does not mean it truly covers all your damages.
Taking time to comprehend the parameters of a full settlement is essential for protecting yourself from financial loss after an auto collision or premises liability incident in Pennsylvania or New Jersey. Should you need guidance, turn to a seasoned Bucks County personal injury attorney.
How Do You Know If a Settlement Offer Is Fair?
A full settlement will cover economic damages. In most accident claims this includes medical expenses, such as compensation for hospital bills, doctor visits, rehabilitation, and prescription medications. There is also the possibility of connecting with wage loss, reimbursement for income lost while recovering, and property damage relief.
Plus, there are situations where the losses extend even into the future. Then there may be recovery for physical pain, emotional distress, and reduced quality of life. And if injuries negatively impact relationships with a spouse or family members, additional compensation may be warranted. Long-term effects need to be considered.
When you connect with an attorney, they will go over a list of questions to guide you toward the maximum compensation amount. This is necessary as insurance companies aim to settle claims quickly and to the benefit of the company, which is often done by putting forward the lowest possible.
A fair settlement should take into account both immediate and long-term needs. Consider the following when evaluating an offer.
- Does this offer cover all of your medical bills? Both current and anticipated future medical expenses related to the injury need to be reviewed.
- Has income loss been tallied correctly? If you are unable to work for an extended period, your lost earnings should be accounted for.
- Are non-economic damages addressed? Pain, suffering, and emotional distress are real damages and should not be undervalued.
- Have future costs been considered? When an injury leads to disability, the settlement should include necessary adjustments, such as home modifications or ongoing medical care.
To ensure you receive the compensation you deserve, do not accept the first offer from the insurance company without reviewing its adequacy. As you move through the loss recovery process, keep records of medical treatments, lost wages, and all accident-related expenses.
A Bucks County personal injury attorney has the skills to assess your case, negotiate with insurers, and work toward a settlement that is fair. Pennsylvania and New Jersey have specific laws that oversee compensation claims, and legal professionals know how to navigate them.
Do you think the amount you have been offered seems low? Partner with the legal team at Kevin L. Hand, P.C. to ensure you receive a fair and complete settlement. Don’t let insurers undervalue your claim, know your rights and protect your future. Call 215-515-2604.
