When should I settle with the insurance company after a personal injury claim?

When deciding whether or not to settle with an insurance company and resolve your claim it’s important that you first realize the full extent of your harms and losses. This can include a lot: property losses, medical losses, lost wages, future care and medical needs down the road, and personal non-economic losses for your pain and suffering such as the inability to do certain things that you like to do.

There is value to all of that, and when you’re trying to determine what the proper amount of compensation is — and whether what they’re offering you is fair — you also have to think about what that money will have to be used for. Ask yourself, is this really my money, or do I have to reimburse my health insurer who paid some of my medical bills with this money? Do I have to pay back medical providers that are still owed money for services they provided? Do I have to pay back any disability insurance that might have paid into my lost wages while I was out of work?

There are different reimbursement interests that are important to be keenly aware of because you may be responsible for those interests with the money the insurance company offers you. A personal injury lawyer can help ensure that your interests are legally protected and that the at-fault driver’s insurance company offers you the correct amount of compensation.

For more information, contact our office.