When you are injured due to the negligence of another, you are entitled to compensation for your damages. With that being said, getting the compensation you deserve may be a long drawn out process. Following the initial event leading to your damages, you may be offered a settlement to avoid litigation. Knowing when and how to properly accept a personal injury settlement is the key to receiving the full compensation you deserve.
Following most incidents of negligence of another, you will likely be in contact with the other party or their insurance company. It is important to remember that a failure to act quickly could result in you forfeiting your rights to compensation in their entirety. In New York State there is a three-year time frame from the date of your injury for filing a lawsuit. While that time frame might seem like a lot of time to bring a claim, it may take a substantial amount of time to prepare and argue your case. Additionally, it may take time to wait for a settlement check. If anything may go wrong during that time, you may lose your right to sue at all. Further, when your claim involves a municipality or state government, the time period to file a claim may be as little as 90 days to put that governmental entity on notice.
Once you get in contact with the other party or the insurance company, they may offer you an immediate settlement offer. Often times, the settlement offer is not adequate for your injuries sustained. In order to understand what an adequate settlement offer is, you must understand what is recoverable following an injury. Any release following a settlement offer will include a clause that excludes a lawsuit for all of your remedies, so it is important to include an analysis of each when you are negotiating a settlement.
When analyzing your damages following an injury, you will want to account for medical expenses, lost wages and pain and suffering. In order to arrive at a proper dollar amount for these injuries you may need consultations with experts, doctors, and a personal injury lawyer. By conferring with a personal injury lawyer, you will have confidence in knowing that you got the proper amount of compensation for your injuries.
While receiving a quick offer may seem beneficial, you must also realize that it is in the insurance company’s best interest as well. The goal of an insurance company is to maximize their profits. The way insurance companies are profitable is by paying out less on claims than they take in on premiums. While the insurance company may seem like your friend in the process, you will want to consult with a personal injury attorney to make sure they are being fair. It is important to realize that the initial offer by the insurance company is not final. The first offer is usually a starting point for negotiations.
Although you may assume you’d only need a personal injury lawyer if you intend to sue, that is not the case. Personal Injury lawyers are experienced in negotiating the best settlement for you. Like any negotiation, it is important to have facts and information that will become your leverage in getting a higher settlement. Your personal injury lawyer will help gather all of the necessary information, and present it to the insurance company in a way that maximizes your settlement. Because a personal injury lawyer understands the process and language of the insurance companies, they are often in the best position to negotiate your settlement.
If you have been injured due to someone else’s negligence, it is important that you speak with an experienced New York personal injury lawyer who can help you understand your rights. The attorneys at McGuire, Peláez & Bennet, PC, will work to ensure you receive the compensation you deserve. For more information about our firm or to schedule a consultation, call our office at 631-348-1702 or fill out our contact form.
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