Should I Accept A Settlement Offer?

After a catastrophic accident, it is tough to focus on your recovery when medical bills and other expenses hit your savings hard. If your injuries prevent you from working, this lost income can add even more stress.

You may think that this is the ideal time to receive a settlement offer that pays off your debt, ending all your financial worries. Before you sign the agreement, you need to know if the terms benefit you or the insurance company.

At The Cody Law Group, our attorneys know that your financial struggle is a stressful, daily concern. We have helped thousands of injured Minnesotans secure favorable results that support their current and long-term interests. We invite you to contact us about your offer.

Questions To Keep In Mind Before Accepting A Payout

Insurance companies know that your debt concerns will motivate you to consider low payouts. A claims adjuster may offer you an unfair settlement and pressurize you into accepting this payment.

Answering these questions may help you determine whether this payout is fair:

  • Will the compensation cover all your medical expenses? It isn’t only the current medical bills that you need to pay. Your injury may require future medical care.
  • Are your lost wages included in the settlement? A fair offer will include lost wages and address lost earning capacity. If your injuries prevent you from keeping your current job, you may need to accept a position that pays less.
  • Does the agreement adequately address your pain and suffering? Although it is tough to assign a dollar amount to the suffering that you have endured, a full settlement should include payment for these damages.
  • Does the compensation include property damage? If your car was totaled in a wreck, will you be responsible for replacing it? Also, does the settlement cover rental car fees you incurred after the accident?

Our lawyers are on your side. We use more than 60 years of combined experience to assess settlement agreements. You can rely on us to give you honest counsel about your case.

Receive The Straightforward Advice You Deserve

Reach out to us to discuss any personal injury questions you have. We are ready to educate you on your rights and your choices. Call 612-444-9418 or email our Vadnais Heights office to connect with a skilled attorney.