How to Approach Personal Injury Settlement Negotiations

There are many ways to approach personal injury settlement negotiations, but learning the law around this issue is the first thing to do. Educating yourself lets you in on the type of injuries that are more likely to result in a significant settlement and how to go about it. However, if that sounds like too much work, you might want to check these guys out for professional legal advice.

Know What You Want

To have a successful settlement negotiation, you should know what you want and aim to get it. For example, you might want $1,000 for pain and suffering. However, if you negotiate in a way that sounds like you would be satisfied with $800, you will probably leave money on the table. So, sticking to your guns is important.

Also, you don’t want to sound like you would be satisfied with $100,000 for pain and suffering as this would be impractical. So, you also have to be reasonable when approaching personal injury settlement negotiations.

Know What the Other Party Is Obligated to Offer

The other party is obliged to offer an amount for all damages sustained by the plaintiff. However, these damages compensations are sometimes specified by the law. If the other party is only liable for a specific amount, the plaintiff can’t collect damages in excess of that. The plaintiff might also be prevented from recovering damages for a certain injury depending on when they discovered it.

Understand the Value of Your Claim

How do you find out the value of your personal injury settlement? The first thing to do is hire a lawyer who knows how to approach personal injury settlement negotiations. They will help you understand whether your claim is worth the time and money needed to pursue it. 

The next thing to do is hire a medical evaluation company to complete an independent medical examination. Combined, these two things will give you an idea of the value of your claim.

Consider Out-of-Court Settlement

It’s not uncommon for personal injury settlement negotiations to end up in court. However, that does not mean that your case has to be taken to trial. Many cases are solved through mediation. This type of approach can allow a case to be settled more efficiently and cheaply. 

Still, give your lawyer all of the relevant information on damages and injuries right away. They will decide whether it would be a good idea for you to pursue an out-of-court settlement or not.

Don’t Be Pressured Into a Settlement Before You Are Ready

If you are pressured into a settlement too soon, they may end up offering too little. So, wait until they are on the hook for actual damages before entering a settlement agreement. You might even want to wait until the trial to see what kind of evidence is presented by the defense. This allows your lawyer to negotiate from a position of strength.

Timing is Everything

The sooner you get your medical evaluation after an injury, the better. The longer you wait, the more difficult it will be to get a fast, fair settlement. Medical evaluations can take anywhere from 60 to 90 days. So, if you wait too long, you might not have the leverage needed to get a good settlement. And that would be a shame.

Be Prepared to Compromise

You don’t have to accept every single thing that your accident settlement offer entails. You should consider what you need and want. Then, try to get the other party to meet you in the middle with a settlement that makes both sides happy. This can be difficult at times. But it will make the process easier and faster. And it will help you get the settlement that you deserve.

Still, finding the right personal injury attorney can be difficult. You need to find someone who has experience with your type of case, as well as an understanding of how negotiations work in order to get you a good settlement offer. The first thing that they will do is evaluate whether or not your claim is worth pursuing. They will also help you understand any potential damages and injuries involved.

In addition, they’ll help gather relevant information related to accidents. These include medical records filed with independent medical evaluation companies and expenses incurred from treatments for injuries sustained.