When you are injured in an accident, you can easily become overwhelmed with medical expenses and calls from insurance companies. If you are unable to work, it is easy to worry about how you will pay your living expenses and provide for your family in addition to the bills for your injuries.
It’s no wonder why so many personal injury victims are quick to accept a settlement offer to get some relief. However, you should not settle your claim until all your injuries and losses have been properly valued and fully calculated.
You must consider the costs you may incur in the future because of your injuries. Whether it’s more medical bills and therapy or lost wages from missing work, these costs quickly add up.
You should have the advice and representation of an experienced Oklahoma City personal injury lawyer to fight for your rights and to ensure your claim is correctly valued. Do not settle for a quick payout and leave yourself vulnerable to unexpected future costs.
What You Need to Know About Settlements
When you agree to settle your personal injury claim, you agree that you will not pursue any further legal action against the defendants in exchange for the money they pay you. When you agree to your settlement, you will be required to sign a waiver that releases the defendant from any further liability for your injuries.
Once you have agreed to a settlement offer, you generally will not be able to seek additional compensation from the party you settled with. There are very few exceptions to this rule.
Because of this, you must accurately assess your damages before considering a settlement offer. Working with an experienced personal injury attorney can help ensure that your damages are properly assessed.
Assessing Your Damages Before Settling Your Claim
Because settlements are final, you must ensure all your damages, including past, current, and future, are evaluated and valued.
Your OKC car accident attorney should consider the following when valuing your claim:
- Current and future medical expenses, including future procedures and physical, occupational, speech, and mental health therapies.
- Your ability to work now and in the future. You must calculate the damages of current lost wages as well as the likelihood that your injuries may cause you to lose wages in the future.
- Your long-term care expenses. Many injuries will require ongoing or even lifelong care. Those expenses must be included in your damages.
- Your pain and suffering must be valued. Even though these types of damages may be subjective, they are important and must be considered.
- Do you need modifications to your home, vehicle, or workplace? If so, you need to include the costs to make these changes.
- Your Oklahoma City truck accident attorney will most likely consult with financial and medical experts to help anticipate your future needs and expenses.
Depending on the unique factors of your personal injury case, your attorney may consider other factors when valuing your claim.
Possible Exceptions to Final Settlements
There are rare situations in which personal injury victims could file another claim to seek additional compensation. For example:
- Fraud. If the defendant, their insurance company, or their attorney engaged in fraudulent or illegal actions during the claims proceedings, you may be eligible to reopen your claim if that fraud led you to accept less money than you should have.
- Bad Faith. If an insurer acted in bad faith when settling your claim, you may be able to reopen your claim.
- You may be able to file against another party. When there is more than one party liable for your damages, you may be able to file another claim against the other at-fault party as long as the statute of limitations has not run.
Do not rely on an exception to the rule to get the compensation you deserve. Make sure your claim is properly valued before accepting any settlement offer.
Let Our OKC Injury Lawyers Settle Your Claim
You must ensure that all of your damages are considered and properly valued before you consider a settlement offer. You can not know whether the offer is fair if you do not know the actual value of your claim.
That’s why you need the representation of an experienced, trustworthy Oklahoma City wrongful death attorney. At Warhawk Legal, we will carefully investigate your accident and consider all current and future damages to value your claim.
We have the experience and skill to ensure your rights are protected and you get every dollar you deserve. Call us today at (405) 397-1717 or visit our contact page now to schedule a free consultation to discuss your case.