How Do I Know If the Insurance Company’s Settlement Is Fair?

How Do I Know If the Insurance Company's Settlement Is Fair?

calculating-settlement-car-accident

Because there are so many complex financial and legal issues surrounding insurance settlement, most people would really have no way of knowing whether or not a proposed settlement from the insurance company is a fair offer.

The Complexities of Calculating a Fair Insurance Settlement

If you’re not a legal professional and have never negotiated with insurance companies, the insurer may get away with an unfair settlement, and you will walk away with far less than you were actually entitled to recover.

This is because there are so many factors that come into play in a settlement, and it’s difficult to accurately account for it all. Often, it takes the assistance of expert witnesses to get a clear picture on what a fair settlement might be.

Contributing Factors for Your Indiana Car Accident Settlement

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Some of the factors to take into consideration when estimating the value of your claim include:

  • Your medical bills
  • Your loss of wages while you were unable to work due to your injury
  • Your future loss of wages because of a reduced capacity to work
  • Loss of promotion or loss of job because of disability
  • The way the injuries have affected you and your lifestyle
  • The ways in which your injuries have affected your family
  • Your loss of enjoyment in activities you once enjoyed
  • Your injury’s effect on your marriage and other relationships
  • Emotional issues that have developed as a result of the injury

Determining the Value of Your Claim

The above list is far from exhaustive. In order to begin putting a number on the value of a claim, your attorney will first ask you for all the medical bills and injury-related receipts you can produce. You will need to supply your income information as well. All of these expenses, called economic damages, are actually the easy part of estimating a claim’s value.

Next, your lawyer or other field expert will have to calculate your future losses. Your injury may cause you to work at a reduced capacity as you age, you may not be able to be as productive as you once were, or you may even be permanently disabled. Your claim should account for all of this. Plus, your future medical expenses will need to be added to the mix, which may include long-term or permanent treatments.

Lastly, you must consider your non-economic damages. These are the most difficult to calculate because they have no price tag. They include emotional, mental, and other intangible damages.

indiana-personal-injury-attorneyAvoid Signing Until You’ve Consulted an Indiana Car Accident Attorney

It’s important to understand that once you sign a settlement agreement, the case is closed and you cannot go back for more compensation. It doesn’t matter if your condition worsens, if you “forgot” to account for something on your claim, or if complications arise—once you sign on the dotted line, the case is closed.

Thus, accident victims often benefit from consultation with and representation from an attorney to evaluate any settlement offers and negotiate a fair settlement that accounts for all damages.

An Indiana car accident attorney can help you avoid the costly mistake of agreeing to a settlement that is too low to cover the damages you have sustained. In order to stay on track with your Indiana car accident claim, download a free copy of our eBook, Consumer’s Guide for Injured Victimsand then contact an Indiana car accident attorney at Hensley Legal Group for a free case review.

Freddie Kincaid

As an accident victim and single father in dire need of help and at the end of my rope, somehow a gentleman named Jonathan contacted me today about my accident, and within few minutes of our conversation he had calmed me down from a 10 to a 5 and took a load of stress, anger, fear, anxiety, depression and being lost off me 50% and helped me see light at end of a dark tunnel. Thank you Jonathan.

Linda Preston

If I ever meet anyone that needs a personal injury attorney, I tell them to hire Hensley! I can’t express my gratitude enough for this firm. I don’t know what I would have done without Spencer and the things he did for me.

Twila Bishop

I have to say that I am very pleased with how Hensley handled my case. They were really quick about getting on my case and getting me a settlement. They didn't delay at all. My car accident lawyer, Phil, was amazing. He got me everything I deserved. I've already recommended Hensley to a friend who needed a good car accident attorney. I recommend that you call them, ESPECIALLY if the insurance is giving you a hard time like they tried to do to me.

Cory Clear

I have to say that I am very pleased with how Hensley handled my case. They were really quick about getting on my case and getting me a settlement. They didn't delay at all. My car accident lawyer, Phil, was amazing. He got me everything I deserved. I've already recommended Hensley to a friend who needed a good car accident attorney. I recommend that you call them, ESPECIALLY if the insurance is giving you a hard time like they tried to do to me.

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All I had to do was reach out to Hensley and get them my information. They handled the rest. And they handled it like a pro. Hensley was great. I would recommend them to anyone who needs a good personal injury firm.

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All I had to do was reach out to Hensley and get them my information. They handled the rest. And they handled it like a pro. Hensley was great. I would recommend them to anyone who needs a good personal injury firm.

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They not only work hard on your case but treat you with respect. They make sure you understand what is happening and what to expect. I have full confidence in their legal abilities, and I am thankful for all the help they have given me.

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Hensley Legal Group did a great job. My case took awhile to resolve but they were very nice and even sent me a birthday and Christmas card.

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Excellent people. Kind and informative throughout the process. I would recommend this firm highly. Thank you all for your commitment to my case. I feel like my family can now face the future with hope.

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I was so happy with the service Hensley Legal Group provided for me. They were so professional, and cared about me, reassuring me when I wasn't always in a good place. They let me know that everything was going to be alright! If I had any questions or needed anything, they were there for me, and gave me quality service.

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I was in a major car accident early this summer. Thanks to Forrest and the group at Hensley Legal I will never go anywhere else. Neither should you.

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Earle Cooke White III

When I was in a serious truck accident and needed a great attorney to handle the matter, Rudy from Hensley Legal Group gave me that assistance.

Andrea Uhl

I used Hensley Legal Group when I was in a serious car accident back in May of 2021 and the representative that helped me through everything was Natalie, and she was fantastic. Thank you again for everything you did for me and my family!

Carrie Kuenz

I had gotten to a point with the auto insurance that I didn't have any more energy to put into negotiating, but I knew they were trying to just get me to settle, so the Hensley group was great and took that off my plate!

Addison Smith

Rudy from Hensley Legal Group was able to get them to increase their offer to not only cover my medical debt, but also a little extra to help make things easier for me.

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The staff at Hensley Legal Group are very welcoming and were able to answer all of my questions. Anyone needing assistance with personal injury or Social Security disability, I would suggest that you reach out to Hensley Legal Group.

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The Hensley Legal Group helped my husband get his disability after a short time. We would like to thank you and we appreciate your professionalism!

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Hensley Legal Group handled my Disability claim. I was totally pleased with my experience with them. They were very professional and made the whole process very easy for me. Iw ill absolutely use Hensley Legal Group for any other legal issue I may have! I would give them 10 stars!!

Brad Eastes

This team was very diligent in swift response to my initial call and after referring me to one call to Social Security for some info to file, I give my strongest recommendation to any one who can use the services they provide!

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We have used Hensley Legal Group for an auto injury case and for a social security disability case and were very pleased with the outcome. Chris Czernik and Katrina Hildebrandt and their teams were kind, compassionate, and helpful. We would highly recommend them to anyone in need of assistance.

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My attorney is experienced and very knowledgeable about the nuances of labor law. It feels great to have such a skilled attorney on your side. I truly believe that they have The Strength to Make a Difference. I highly recommend using The Hensley Group.

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The whole team was very professional and sincere. They really were concerned about closing my case before my injuries were healed and making sure to cover all bases regarding my accident.

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The whole team was very professional and sincere. They really were concerned about closing my case before my injuries were healed and making sure to cover all bases regarding my accident.

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I was in an accident involving three totaled vehicles and ultimately one fatality. I’d never been in a situation like this before and didn’t know where to even start. So glad I called Hensley! They were so easy to work with and I’m sure got far more for me than I would’ve been able to get myself. They were kind, professional, and got the job done!

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