Important Factors to Consider Before Settling an Auto Accident Claim in Michigan
Legally Reviewed and Edited by: Terry Cochran
When you are involved in an auto accident claim in Michigan, you must decide when to settle. Unfortunately, there is no straightforward answer as to when to do this because it depends on the circumstances of your claim and if you want to take your case to court.
Working with an experienced personal injury attorney who can advise you on whether or not a settlement offer is fair is critical to the outcome of your case if you have been injured in a car crash due to someone else’s negligence.
To learn more about when to settle with a car insurance company in Michigan versus demanding more compensation, contact Cochran, Kroll & Associates, P.C. for a free initial consultation.
Have You Hired a Lawyer?
While 51% of car accident victims receive a settlement without the assistance of a car accident lawyer, 91% do so when they hire a lawyer. The settlement is also higher with the help of an experienced car accident attorney.
This is because they are familiar with the car accident claim process, including filing a car accident claim and using police reports, dash cam footage, and eyewitness testimony to prove the other driver was at fault.
They also know how to claim compensation in your demand letter and include your current and future expenses and a potential claim for pain and suffering.
Have You Reached Your Maximum Recovery?
Experienced auto accident lawyers know you shouldn’t settle your claim unless you are confident you know all your medical bills. If you haven’t fully recovered from your injuries or to the greatest extent possible, you may not have all the information you need to settle. Future medical expenses like prescriptions, physical therapy, surgeries, and doctor’s appointments should be included in your settlement.
Only once you reach your maximum recovery will you know how much medical care you will need and be able to project the cost that should be included in your payout.
What’s Your Pain and Suffering Worth?
If you are involved in a catastrophic accident that leaves you disfigured or with an amputated limb, you may be entitled to non-economic damages for your pain and suffering, emotional distress, and other non-quantifiable damages.
Determining the amount of damages is challenging, but a qualified personal injury lawyer will have experience doing this and can maximize your financial compensation.
Do You Know All the Options Available to You?
Auto insurance companies are looking to settle your insurance claim as quickly as possible when they offer you a lowball settlement or want to avoid alternatives. Some alternatives to a settlement include mediation, arbitration, or a bench or jury trial.
If you are involved in a Michigan car accident, these are all options that an experienced auto attorney understands and can help you determine which is best for your situation. Sometimes, for example, mediation may be recommended before filing a lawsuit to discuss the likely outcomes of the case and to try and reach a resolution, so you avoid going to court.
Have You Negotiated Your Offer?
After an auto accident, it’s important to take the time to consider any settlement offers that you may receive carefully. Before accepting any offer, it’s crucial to negotiate and ensure that it adequately covers all your damages and losses.
There are a few key things to consider when negotiating your offer. First, make sure that you clearly understand all of the damages and losses you have incurred as a result of the accident. This can include economic damages, such as medical bills and lost wages, and non-economic damages, such as PTSD.
Next, it’s essential to consider the role of insurance companies in the settlement process. Insurance adjusters may try to lowball your settlement offer to save the company money. It’s important to stand your ground and ensure that the offer adequately covers all your damages and losses.
If you cannot negotiate a fair settlement, consider alternative dispute resolution options such as mediation or arbitration. These options provide a more informal and less costly way to resolve disputes outside of court.
It’s vital to take the time to consider any settlement offers and ensure that they adequately cover all your damages and losses. Don’t be afraid to negotiate and seek legal guidance to ensure that you get a fair settlement.
Is the Offer Better Than Going to Trial?
When deciding whether to accept a settlement offer or go to trial, it’s important to weigh each option’s potential risks and benefits.
On the one hand, going to trial can be lengthy and costly. It can also be uncertain, as there is no guarantee of a win or a specific outcome. If you do win at trial, however, you may be able to receive a larger award than what was offered in the settlement.
On the other hand, accepting a settlement offer can resolve the dispute quickly and allow you to receive compensation more quickly. It can also provide a sense of closure and allow you to move on from the accident.
Ultimately, whether to accept a settlement offer or go to trial will depend on your circumstances and the specifics of your case. It’s essential to carefully consider each option’s potential risks and benefits and consult with a qualified attorney to help you make an informed decision.
Maximize Your Settlement with Cochran, Kroll & Associates, P.C.
Our legal team at Cochran, Kroll & Associates, P.C. has the skills, experience, and resources to ensure you make the right decision when it comes to settling your car accident claim.
We can help you understand how your responsibility in the accident can affect your settlement, the impact of your injuries on your future income, and when settling or going to court is a better option.
Our contingency fee basis means we only get paid if we win your case, so there is no financial risk to you to get started. Call our law firm today at 1-866-MICH-LAW and schedule your no-obligation, free case evaluation.
Disclaimer : The information provided is general and not for legal advice. The blogs are not intended to provide legal counsel and no attorney-client relationship is created nor intended.