How Can You Tell if an Insurance Settlement Offer is Fair?

No two personal injury settlements are alike. It can be difficult to determine whether or not you’re receiving a good insurance offer as injuries are, ideally, not a regular part of your life. Often, the insurance company might encourage you to just settle with their offer before you seek legal counsel or further litigation, regardless of whether it’s actually a fair offer or not.

Truth be told, the insurance company is usually not acting in your best interests. Often, there are conflicting interests and financial incentives at play to keep you away from seeking the representation and compensation you deserve. While some settlement offers are fair, others are highly inadequate. Regardless, it’s important to be able to differentiate a good offer from a bad one, and the best way to do this is with the help of an experienced personal injury attorney.

What’s Your Case Worth?

Your settlement’s value is more than the numbers you see on paper. To receive a fair settlement, you and the insurer should account for all damages and losses in a case, including:

  • Total monetary value (medical bills, wages, repair fees, funeral expenses, etc.) of the losses
  • Expected future losses, including medical treatment you will need
  • Physical and emotional pain and suffering

Insurance companies know that many unrepresented claimants fail to consider losses beyond their current medical bills and wages they already lost. They will try to get you to accept a settlement that covers your already-incurred losses, but not any future anticipated or intangible losses. This can significantly decrease your payment and leave you responsible for covering your future costs.

Insurance companies have many tactics they use to convince claimants to accept insufficient settlements, including:

  • Promising to pay you quickly if you accept the first offer
  • Telling you that you do not need a lawyer
  • Challenging the severity of your injuries
  • Challenging liability for your injuries

Once you accept a settlement offer, you relinquish your rights to seek additional compensation. This is why it is extremely important not to accept anything without the advice of an experienced injury attorney. 

Contact a Fargo Personal Injury Attorney Today

Our legal team has fought for the settlement rights of countless injured clients in Fargo and the greater Midwest, and they’re ready to fight for yours. For top-notch representation from a Fargo personal injury lawyer, email Tatum O’Brien,  Tim O’Keeffe, or Sara Monson, or reach the O’Keeffe O’Brien Lyson Foss team by phone at 701-235-8000 or 877-235-8002 toll-free. Don’t wait to arrange your free initial consultation.

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