When you’ve been injured due to someone else’s negligence, filing a personal injury claim can be crucial to seek compensation for medical expenses, lost wages, and pain and suffering. One of the critical stages in the process is negotiating a settlement with the responsible party or their insurance company. However, settlement offers are influenced by various factors, and understanding them can significantly impact the outcome of your claim. In this blog, the experienced attorneys at Shenderovich, Shenderovich & Fishman, P.C., based in Pittsburgh, PA, will shed light on the key factors affecting settlement offers in personal injury claims.
- Nature and Severity of Injuries:
The extent of your injuries plays a central role in determining the value of your claim. Serious injuries that result in long-term disabilities or require extensive medical treatment typically lead to higher settlement offers. Factors considered include medical records, doctor’s assessments, and projected future medical costs.
- Evidence and Liability:
Clear evidence that establishes the other party’s fault in the accident is essential. If liability is evident and supported by witnesses, police reports, and any available video footage, it strengthens your negotiating position. Conversely, a dispute over liability may weaken the settlement offer.
- Economic Damages:
Economic damages refer to quantifiable financial losses incurred due to the accident, such as medical bills, property damage, and lost wages. The total economic damages you suffer can significantly impact the amount offered in the settlement.
- Non-Economic Damages:
Non-economic damages cover intangible losses like pain and suffering, emotional distress, and loss of enjoyment of life. Calculating non-economic damages can be challenging, but they are an essential part of your claim’s overall value.
- Comparative Negligence:
In Pennsylvania, the principle of comparative negligence is applied in personal injury cases. If you are found partially responsible for the accident, the settlement offer may be reduced based on your percentage of fault. Having a skilled attorney can help mitigate the impact of comparative negligence on your claim.
- Insurance Policy Limits:
The at-fault party’s insurance policy limits can cap the amount available for settlement. If the responsible party has low policy limits, it may limit the compensation you can receive, especially in severe injury cases.
- Demand Package and Negotiation Strategy:
A well-prepared demand package that includes comprehensive documentation of your damages can positively influence the settlement offer. Additionally, a skilled negotiator can employ effective negotiation strategies to maximize the settlement amount.
- Timing of Settlement Negotiations:
The timing of settlement negotiations can also impact the offers. An insurance company might offer a lower settlement early in the process, hoping to resolve the case quickly. However, waiting until your injuries stabilize or obtaining expert opinions can lead to more accurate assessments of your damages and, potentially, higher offers.
Achieving Justice and Fair Compensation
Navigating the complexities of personal injury claims and obtaining a fair settlement offer can be challenging without proper legal representation. The attorneys at Shenderovich, Shenderovich & Fishman, P.C., are dedicated to helping clients in Pittsburgh, PA, achieve the compensation they deserve. Understanding the factors affecting settlement offers and employing effective negotiation strategies are crucial in ensuring a favorable outcome for your case.
If you or your loved ones have been injured in an accident, don’t hesitate to seek legal advice. Contact us today for a free consultation by calling us at (412) 391-7610, or send us a message here, and let our experienced attorneys guide you through the legal process and fight for your rights. Together, we will pursue the justice and compensation you deserve.