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After An Accident: 4 Tips To Receive A Suitable Settlement Offer

23 May 2019

Tracy Roberts

An automobile accident can be stressful for many reasons. Not only could you be dealing with vehicle damage and physical injuries, but you may also experience emotional and financial distress because of the accident. Fortunately, help is available. If you were recently involved in an accident, hiring an attorney is key to ensuring you receive a settlement that suits your vehicle damage, injuries, stress, and financial discord. This guide will help you improve your chances of receiving the best settlement possible after an automobile accident.

Never Accept the First Offer

One thing to remember is that a first offer is exactly that – a first offer. The offer will most likely be coming from the other driver's insurance company, who wants to reduce their loss/expenses, but that does not mean you should accept the offer because it may not be suitable.

It is best to talk with your attorney to determine what the accident has "cost" you before accepting the first offer. Remember that you are not only going to need financial help to repair your vehicle and pay any medical expenses if you were injured – you will also need money to help with basic expenses you are not able to pay because you are missing time from work due to the accident.

Never feel pressured to accept this offer, especially if it is not enough to handle your expenses. Once the first offer is made, your attorney can begin negotiations and continue countering offers until you receive one that works for your needs.

Calculate Financial Needs Carefully

Again, it is wise to sit down with your attorney to calculate an acceptable settlement amount. This will help you have an idea of what would be sufficient to handle repairs, medical bills, and any time lost at work.

There are many calculators designed to provide you with a ballpark estimate on damages and other expenses accrued because of the accident. To ensure you get the closest calculation possible, be sure to gather some important documents.

Receipts and quotes that show the cost of repairs to your vehicle and medical bills and statements that include doctor's visits, prescriptions, physical therapy, counselors, and even transportation to and from the various appointments are all helpful. Be sure to visit multiple auto body and vehicle repair technicians to gather multiple quotes.  

In addition to factoring in actual expenses for vehicle repairs and medical expenses, when calculating a legitimate settlement offer, you also need to take into consideration any income lost because you are unable to work.

Don't Forget Emotional Distress

Living through and dealing with financial issues and physical injuries after an accident can be stressful. You may experience feelings of stress and anxiety but also sadness, depression, and even anger in some instances. Although money cannot buy happiness, a settlement offer that can ensure you have the financial means to recover from the accident is beneficial.

You should also make sure the insurance adjuster understands that the emotional distress you are experiencing affects you, your ability to work, and even your family members. If any members of your family were in the vehicle with you at the time of the accident, they may also be living with emotional trauma that should be taken into consideration.

Document Everything

Offers and counteroffers should all be documented in writing. In most cases, your lawyer will ensure the offers are stated in writing, but consider gathering copies of these offers for your own records.

Each offer and counteroffer should be signed by you, your attorney, and the insurance company. Once an offer is accepted, finalization will require signatures from all parties, as well.

Navigating life after an accident can be challenging, but an auto accident attorney will help. This guide will ensure you and your attorney fight for a suitable settlement.

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