If you’re unhappy with the settlement offer, you are not obligated to accept it. You have the right to reject the offer and negotiate for a higher amount that better reflects the value of your claim. It’s essential to approach this decision carefully and with the guidance of an experienced Greenville personal injury lawyer.
At Smith Jordan Law, we believe in empowering our clients to make informed decisions. Let’s explore your options when you’re dissatisfied with a settlement offer and how to proceed to ensure you get the compensation you deserve.
What exactly is a settlement offer?
A settlement offer is a proposal from the insurance company or the party at fault to resolve your personal injury claim without going to trial. The offer typically includes a monetary amount meant to cover your medical expenses, lost wages, pain and suffering, and other related damages.
Evaluating the offer
Before accepting any settlement offer, evaluating whether it fully compensates you for all your damages is crucial. This includes both current and future expenses related to your injury. Settlement offers are often the starting point for negotiations, and they may not reflect the full value of your claim.
Why you might not be happy with the settlement offer
Lowball offers
It’s not uncommon for initial settlement offers to be lower than you deserve. Insurance companies may start with a low offer, hoping you’ll accept it quickly to avoid the hassle of further negotiations or a potential trial.
Uncovered damages
The offer may not cover all your incurred damages, such as ongoing medical treatment, future lost wages, or non-economic damages like pain and suffering. It’s essential to consider both your current and future needs when assessing a settlement offer.
Pressure to settle quickly
Insurance companies may pressure you to accept a settlement quickly, especially if they believe you’re in a vulnerable position. However, settling too soon could result in insufficient compensation if your injuries worsen or additional costs arise later.
What are my options?
Negotiate for a higher settlement
If you’re not happy with a settlement offer, the first step is to enter into negotiations. With the help of your attorney, you can counter the initial offer with a demand for a higher amount. Your attorney will use evidence, such as medical records, expert testimony, and documentation of your losses, to support your demand.
Mediation or arbitration
Mediation is required for all lawsuits in South Carolina. Mediation is a non-binding process involving a neutral third party who helps facilitate a settlement agreement, While cases don’t always settle at mediation, it is often the best chance to settle a lawsuit.
Proceed to trial
If negotiations fail and you’re unhappy with the settlement offer, you can take your case to trial. In a trial, a judge or jury will hear the evidence and determine the compensation you’re entitled to. While trials carry more risk and uncertainty, they can result in a higher award if your case is strong.
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Smith Jordan Law is ready to fight for what you deserve
At Smith Jordan Law, we’re here to support you in making the best decision for your situation and to fight for the compensation you deserve. If you’re facing a settlement decision or need legal assistance, contact us today for strong guidance and representation.
