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What Is A Good Settlement Offer After An Accident?

Two people fighting over a good settlement offer
Insurance companies are famous for offering low settlements to accident victims, but how do you know when you have a good settlement offer in your hands?

When you get injured, you may be eligible for a settlement offer. After all, about 95% of lawsuits end up getting settled before they go to court. This is for a few reasons: Going to court is time-consuming, expensive, and it can damage a person’s reputation. Settling is easier and a better financial decision, usually.

You may be wondering what your settlement could be. If you’ve already gotten a settlement offer, you might be wondering if it’s a good offer.

Contact the Corpus Christi personal injury attorneys at The Burkett Law Firm for a free consultation to learn more about Texas personal injury lawsuits and what to expect in the settlement process. We have 40+ years of experience in personal injury cases and there’s no fee for our services unless we recover compensation for your accident case.

Take a look at your accident damages (all of them)

To get an idea of the amount of money you can get in your settlement, look at accident cases that are similar to yours and see how much those victims received.

For example, The Burkett Law Firm Corpus Christi personal injury attorneys have won $6,000,000 in a settlement for a parking lot-pedestrian accident and $2,500,00 for another pedestrian accident.

In Texas, if you get injured in a car crash, you could initiate a lawsuit against the at-fault driver for $30,000 for each injured person as well as $25,000 for property damage, such as damage to your car.

Along with injuries and property damage, you will need to look at other damages, too. If you had to take off work to go to the doctor for your injuries, those lost wages should be included in your settlement amount.

Non-economic damages like pain and suffering, like PTSD, from the accident could factor in, too. Your Corpus Christi personal injury attorney will be able to calculate your economic and noneconomic damages for you and negotiate for a full settlement that covers both types of damages.

Beware of bribes and don’t accept a first settlement offer

After your accident, the other driver may offer to give you cash on the spot so you don’t report what happened to the insurance company. Don’t accept this bribe, because it won’t be enough to cover the costs of all your damages.

You never know how much your damages are going to amount to and if you accept the driver’s cash offer, you might not be able to file for a fair settlement later on.

If you do report the accident and the insurance company calls you to offer you a settlement, again, don’t accept it. This first offer will be way too low. Insurance companies are known for providing very low settlements because they want to save as much money as they can when paying out accident claims.

Even if it seems like a good settlement, again, your total damages (including injuries, car damage, emotional stress), could be much higher than you think.

If you accept a low settlement, you could end up having to pay for some of your damages out-of-pocket since you won’t be able to file a lawsuit for more money after accepting the offer from the insurance company. 

Who was responsible for the accident?

If the other driver was 100% to blame for your accident, then they should pay 100% of the damages. But if you played any part in the accident, then your settlement will not be as high or the insurance company can deny your claim completely. Your Corpus Christi personal injury attorney will need to prove who was to blame in order to give you the best chance possible of getting a good settlement offer.

Use your accident evidence for a good settlement offer

The more evidence you have of who was to blame, the better. This could include witness statements, photographs of your injuries and damage to your car, video footage of the accident, police records, and medical records documenting your injuries.

If you have all this evidence to back up your claim, then your chances for a good settlement offer will be that much higher. If you’re missing any evidence or need help collecting it, your Corpus Christi personal injury attorney will be able to help you.

Include your attorney’s fees when deciding what’s a good settlement offer

Attorney showing fees to take after winning a good settlement offer for client.
Although there are no up-front costs, your Corpus Christi personal injury lawyer will take a percentage of your settlement offer after they win your case for you.

Personal injury attorneys do not charge up-front fees for their services. In fact, they don’t make money unless they can get you a good settlement. Once the offer comes in and you approve it, they will then take out their fees.

You’ll need to look at how much money in attorney fees will be taken out of your settlement before signing any final agreements. To give you an idea, a typical attorney’s fees for personal injury settlements are 33% to 40%.

You can ask your injury lawyer to renegotiate your settlement offer

If you don’t believe you have a good settlement offer, then you can always ask your injury lawyer to renegotiate for you. If you have solid evidence, then the other driver may agree to give you a higher settlement because they know that going to court is more expensive and time-consuming. If you’re unhappy with your settlement, speak with your Corpus Christi injury lawyer.

Increase your odds for a good settlement with The Burkett Law Firm at your side

If you want the best chances of getting a good settlement, then call on the three-generations of Corpus Christi personal injury attorneys at The Burkett Law Firm. We will work hard to get you full compensation for all your damages, as quickly as possible. Schedule a free consultation online or give us a call today.