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Are You Being Offered a Fair Personal Injury Settlement?

If you are involved in an accident resulting in personal injury, you are likely already aware that the insurance company is not in the game to get you every last dollar you deserve. In fact, it is in the best interest of the insurance company to get you to accept a quick settlement, which may not account for all of the damage you have suffered or any costs you may incur after the accident. Before you accept a settlement that is less than you deserve and get wrapped up in getting back to your normal life, consider the following tips to be sure you are being offered a fair settlement by the insurance company.

Beware of bad faith tactics

If an insurance claims adjuster begins the process by denying your claim outright, this is likely an indication that the settlement process will involve bad faith negotiations. For example, if you suffer serious injury from an accident and the claims adjuster fails to provide any compensation for your injury, this is likely a sign of bad faith.

Watch out for the statute of limitations

The statute of limitations for filing a lawsuit for personal injury claims for an accident varies by state. This is an important deadline to keep in mind if you are an accident victim because if you do not file the lawsuit within this timeline, you may be prevented for suing on your claim. If your claims adjuster fails to offer a reasonable settlement offer, you may need to file suit to protect your rights to recover from the accident.

If your claims adjuster engages in reasonable delay or stall tactics in responding or presenting an offer, this may be an indication that the claims adjuster is attempting to run you out of the statute of limitations for filing a lawsuit. On the other hand, your claims adjuster may try to force you into an unreasonable and undervalued settlement offer by telling you that the statute of limitations has expired and your claim will become worthless. To prevent unnecessary surprises, make sure you know the applicable statute of limitations before you begin negotiations to settle your claim.

Do not be pressured by unreasonable time limits

The insurance company has every incentive to pressure you into a quick settlement. The quicker you settle, the less likely that the full extent of your injuries costs and expenses arising from the accident will be taken into consideration into the settlement amount. If the claims adjuster presents you with an unreasonable deadline for accepting a settlement offer, be wary that the adjuster may be undervaluing the amount of your claim. Before accepting any offers, make sure that extent of your injuries and expenses have been taken into consideration. If not, you may be left with unexpected out-of-pocket expenses that the settlement amount does not cover.

Remember, if you are the victim of an auto accident, the insurance company is not necessarily on your side. Negotiating a fair settlement requires attention to detail and an in-depth understanding of the claims process to make sure you are accounting for long term injuries and all of the expenses that will arise from your accident. An experienced lawyer can be a powerful advocate in ensuring that you are fully compensated for your injuries in the most expedient way possible. If you choose to engage a lawyer in negotiating a fair settlement, the sooner you invoke your lawyer in the process, the more likely your attorney can recover a fair settlement for you. 

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T.J. Smith, Attorney at Law
600 W Main Street Suite 100
Louisville, KY 40202


Phone: 502-792-7937
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Phone: 270-261-4114
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