How Do I Tell If My Settlement Offer Is Good?

Posted on : January 14, 2021

Receiving a settlement offer after an accident caused by someone else can result in mixed emotions. How do you know whether or not you should accept it yet? Is it enough? Here are some ways to tell your settlement might be enough and what to do to get the legal help you need after being injured. 

You’ve Recovered As Much As You Can  

If your doctor says you’ve recovered as much as you’re going to be able to, then and only then is it wise to entertain a settlement offer. If you’ve not yet reached maximum medical improvement (MMI), the offer may not be enough to cover the rest of your medical treatment and any long-term effects you have from the injury. 

The Settlement Pays All Of Your Bills

You can quickly tell if your settlement is inadequate by looking to see if it covers all of your financial expenses related to the injury. If it doesn’t, don’t accept it. Once you accept a settlement, you waive your right to pursue additional compensation, even if you’re still incurring costs. 

It Awards Funds for Future Medical Needs  

Because you can no longer pursue additional damages once you’ve agreed to a settlement, it’s important to make sure you have funding for any future medical needs you may have that are related to your injury. For example, you may be partially disabled and require pain medication for the rest of your life. Your settlement award should include enough money to cover this ongoing care. 

It Includes Damages for Pain and Suffering  

Damages for pain and suffering, also called non-economic damages, are intended to be part of a personal injury settlement to compensate the victim for the emotional and physical hardship they endured after the incident. If your offer doesn’t account for your pain and suffering, you almost certainly want to make a counteroffer. 

Punitive Damages Are Included 

If the carelessness that resulted in your injury was particularly serious or egregious, punitive damages should be included in your settlement. These are designed to penalize the person responsible for your injuries for extreme negligence. 

When Should You Contact a Texas Personal Injury Attorney?

If you or someone you care about were hurt in an accident caused by someone else’s disregard for your safety, don’t wait to get legal help. Contact the Bourlon Law Firm today to discuss your injury case in detail or to learn more about how to navigate the many challenges of pursuing financial compensation after an accident by calling (361) 289-6040.