If you sustained injuries as a result of an accident that has not been your fault, you will likely be dealing with an insurance company to settle your injury claim. Usually, your case is ready for settlement once you complete your medical treatment. At that time, the insurance company and your personal injury lawyer will try to settle your injury claim out of court.
The first thing to understand in settling a personal injury claim is the settlement value of the case. The settlement value is determined based on the severity of damages you sustained as a result of the accident. In Florida, there are two types of damages that should be taken into consideration when determining the value of a case – economic damages, such as the cost of medical care, loss of earning capacity, etc., and non-economic damages, such as past and future pain and suffering, mental anguish, physical impairment, disfigurement, loss of enjoyment of life, etc.
The value of non-economic damages is subjective as there is no definite way of calculating the precise amount of these losses. The injured person’s attorney and the insurance adjuster begin evaluating the available evidence of the damages to estimate the amount of settlement when the claim arises. Once you complete your medical treatment and reach maximum medical recovery, your personal injury lawyer sends the demand letter to the insurance company or the other responsible party.
After the demand letter is sent to the insurance company, the insurance company will usually respond to the injury lawyer with an offer within 30 (thirty) days. If the offer is not acceptable to you, then your personal injury lawyer will negotiate for a higher offer. It is therefore important to have an attorney who has substantial experience negotiating claims with insurance claims adjusters who have similar type experience. Your attorney must be well prepared in presenting the strengths of your case, and must also be equally prepared to respond to any weaknesses which the insurance company is most likely going to focus on.
When the offer is accepted by you, the insurance company will send your attorney a check for the offered amount and a release which states that the claim can’t be made again in the future for the same incident.
After the attorney has taken the contingency based attorney fee of the settlement and after paying any costs and outstanding medical bills, a check for the remaining amount is issued to you. You will also be provided with an itemized settlement statement explaining the distribution of the settlement proceeds. However, if the final amount cannot be reached this way, then a lawsuit may need to be filed.
Joe Horrox Law has built a reputation over the last quarter of a century of being a good negotiator. But, having only an attorney who is a good negotiator will only be effective provided that attorney also has the reputation with the insurance industry of taking the cases to court if necessary. Joe Horrox will not hesitate to take a case to court if a fair settlement cannot be reached in pre-suit. If you or your loved one has been injured in an accident, value your case by calling Joe Horrox Law now!