When Should You Settle a Personal Injury Claim?

If you have a personal injury claim after an accident in Ohio, settling your claim will allow you to collect payment and move on with your life. But, if you settle too soon, you could end up with far less than you deserve—and this could mean paying for someone else’s negligence for years to come. As a result, it is critical to ensure that you are making informed decisions about when (and if) to settle your claim.

5 Key Questions for Determining Whether You Should Accept a Personal Injury Settlement

How can you make an informed decision about whether to accept a personal injury settlement? Here are five key questions to consider:

1. Do You Have a Clear Understanding of Your Long-Term Medical Needs?

If you suffered serious injuries in your accident, your long-term medical costs could far exceed your costs to date. Before you settle, you need to make sure you know what types of treatment you will need in the future and how much this treatment is going to cost you.

2. Do You Know How Much the Accident is Going to Cost You in the Future?

Along with your future medical expenses, you need to make sure you have a clear understanding of your other future accident-related costs as well. Will you need to pay for prescriptions or medical supplies? Will you need to pay for transportation to and from multiple doctors’ offices? Will you miss work as a result of your injuries? All of these are costs that should be factored into your settlement.

3. Have You Determined the “Value” of Your Pain and Suffering?

Accident victims in Ohio are entitled to just compensation for their pain and suffering. But, until you clearly establish the “value” of your pain and suffering, any settlement offer you receive is unlikely to include any compensation for these non-economic losses.

4. Have You Considered the Other Non-Economic Costs of Your Injuries?

Along with pain and suffering, accident victims in Ohio can recover just compensation for other non-economic losses as well. If you haven’t factored these losses into your claim, they won’t be included in your settlement.

5. Is the Settlement Offer Within an Acceptable Range?

Based on the total anticipated economic and non-economic costs of your injuries, you should be able to identify a reasonable settlement range. If you receive an offer that is below this range, it most likely won’t be in your best interests to settle.

While settlement negotiations are often a key step in the personal injury claim process, you should not be willing to settle for less than you deserve. To ensure that you are making informed decisions, you should speak with an experienced personal injury lawyer to find out how much you are entitled to recover.

Request a Free Consultation with an Experienced Personal Injury Lawyer in Columbus, OH

If you need to know more about seeking a personal injury settlement after an accident in Ohio, we invite you to get in touch. Call 888-444-7440 or contact us online to request a free consultation with an experienced personal injury lawyer at Malek & Malek Law Firm.