While there are some personal injury cases that end up in court, most end when the victim accepts a settlement offer from the liable insurance company. Accepting a settlement offer from the insurance company means you receive compensation and release the insurance company from further liability related to the accident.
Since you will not be able to seek more compensation from the insurance company, you need to be sure the settlement provides all the compensation you need. That is why there are several things to consider before deciding to accept an offer.
You should not decide whether to accept or reject a settlement offer without talking to a licensed lawyer. The experienced lawyers at Galloway Jefcoat have helped many clients obtain fair compensation for their damages and we are ready to assist you. We have been helping the injured in Louisiana for decades and have secured millions in settlements and courtroom verdicts.
What Do I Need to Know About a Settlement Offer?
There are some questions you should ask about a settlement offer when considering if it is fair and provides the compensation you need:
- Does the settlement provide for all your past and ongoing medical expenses?
- Does the settlement pay for your pain and suffering?
- Does the settlement account for your lost earning capacity?
- Are other out-of-pocket costs covered by the settlement?
If you have been offered compensation by the insurance company, give us a call today to schedule a free consultation. We are available to discuss how we may be able to help you and the potential value of your claim. There are no upfront fees for our services.
"I have used Galloway Jefcoat a few times and have always been very satisfied. Furthermore, all of the people who work there are very professional, nice, and courteous."
Does the Settlement Provide for All Your Past and Ongoing Medical Expenses?
The purpose of filing an injury claim is to try to secure compensation to try to put yourself back in the position you were in before the accident. While a settlement cannot change what happened, it can provide compensation to help mitigate your damages and help you be financially secure.
While an accident can cause a wide variety of damages, a large percentage of those damages are medical expenses. If your lawyer can prove another party is liable for your damages, the liable party’s insurance company should pay your medical bills.
Your lawyer will review the settlement offer to determine if it provides compensation for all the medical bills you have already incurred. It is important to note the insurance company is only going to cover bills for treatment recommended by doctors.
While there are some situations when victims fully recover from their injuries and do not need much, if any, ongoing treatment, there are many situations when this is not the case. Many injured victims need some amount of ongoing medical treatment after their claim is concluded.
For example, if you suffered a spinal cord injury that left you paralyzed, you will need compensation to cover a wheelchair or powerchair. You will likely need to meet with doctors on a regular basis to manage health issues that often accompany paralysis. You may need to take prescription medication for pain management or the management of other symptoms.
Those who suffered traumatic brain injuries may need all-day care because they are unable to take care of themselves on their own. They may also need to meet with different types of therapists to deal with psychological problems and/or physical impairments.
The cost of ongoing treatment can add up quickly. You need to make sure the settlement being offered includes compensation for all the treatment you need. That way you can get the care your doctors recommend, as it can help you manage your injury and potentially improve your quality of life.
Without compensation for these costs, you will be stuck paying for them out of your own pocket. For many victims, this is not possible because they will not be able to afford to pay for these things themselves.
Does the Settlement Pay for Your Pain and Suffering?
The psychological trauma from an accident and resulting injuries can be overwhelming. Some victims experience post-traumatic stress disorder (PTSD). Others may deal with anxiety, depression, trouble sleeping, or other forms of emotional distress.
The physical pain from an injury can be considerable. This combined with psychological trauma can lead to a loss of enjoyment of life. This means you may be unable to engage in the activities you once enjoyed, such as leisure activities.
Pain and suffering can also include loss of consortium, which refers to damage to the victim’s relationship with his or her spouse.
While compensation does not erase these issues, compensation is the law’s way of mitigating these damages.
Often, insurance companies do not account for pain and suffering damages in their settlement offers. That is why it is vital to have an attorney helping you to determine the full value of your claim.
"As a client of Galloway Jefcoat for over two years I want to take a minute to say how much I appreciate the team handling my case."
Does the Settlement Account for Your Lost Earning Capacity?
You may be unable to work or unable to work in the same capacity as before you were injured. That is why you may need compensation to account for your loss of earning capacity.
Loss of earning capacity is not just about replacing what you were earning from your job. Loss of earning capacity should account for what you were likely to earn in the future if you did not get injured. Your loss of earning capacity should account for your education, job skills, employment history and other factors.
It takes times to determine how much your lost earning capacity may be worth. The insurance company may offer you something, but it is unlikely to be anywhere near enough.
This is a complex issue that should be discussed with an experienced attorney. At Galloway Jefcoat we have helped many victims secure lost earning capacity damages. Give us a call to discuss the potential value of your case.
"Great experience, from day 1 I felt like I finally had someone on my side and that feeling didn't leave me for 1 single moment."
Are Other Out-of-Pocket Costs Covered by the Settlement?
There are various out-of-pocket costs that injury victims may incur. For example, if your personal property was damaged, you may be able to include it in your claim for compensation. You may need to hire someone to help you do household chores.
If someone else caused you to be injured and the injury resulted in damages, you should not be forced to pay these costs yourself.
Call Galloway Jefcoat Today to Discuss Your Legal Claim
If you were recently injured in an accident or have already been in contact with the insurance company, our experienced Lafayette personal injury lawyers are ready to help you.
It is important to contact a licensed attorney as soon as possible, as there is limited time to seek compensation. You should also contact a lawyer quickly so he or she can work to protect the value of your claim. If you try to deal with the insurance company on your own, you could hurt your case without even realizing it.
"Galloway Jefcoat helped me at a time when I felt lost and taken advantage of by my employer."