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FAQ About Personal Injury Settlements

Jan 03, 2021 Personal Injury

Posted by: Kisling, Nestico & Redick, LLC

When you suffer a severe injury because someone acted irresponsibly, it can be hard to know what to do next. Whether it’s a car accident or slip and fall, you likely know you’re entitled to compensation for your losses, but for what and how much? Many questions will come up, but the Ohio personal injury lawyers at Kisling, Nestico & Redick are here to help get you answers.

Were you injured in Ohio? Call KNR today at 1-800-HURT-NOW for a free, no-obligation consultation.

Here are some common questions we hear from our clients and answers from our legal team:

What Does a Personal Injury Settlement Cover?

Personal injury claims are meant to make you financially “whole,” as if the accident didn’t happen. As such, a personal injury settlement should cover all of your past and future losses. That includes:

Settlements don’t always specify what they are recouping. The insurance company will likely make you a broad offer they think is acceptable for all of your damages. However, these are typically for a lot less than you’d recover by working with an attorney who focuses on getting you enough to cover everything.

How Long Does It Take To Get a Settlement?

It can take months or even years to get a fair settlement from the insurance company. They will often make you a lowball offer within weeks of your accident. However, your lawyer will need to negotiate with them to get what you deserve.

According to Nolo.com, the average length of time it takes a personal injury claim to resolve is 11.4 months. That time can vary greatly depending on whether you have an attorney if you file a lawsuit and how negotiations go.

Should I Take the First Settlement Offer?

The insurance company will often make a quick settlement offer after an accident. They want to get rid of it as quickly and cheaply as possible. However, the first offer is rarely their best offer. You should work with an attorney to help you get the maximum offer possible. This often requires several demands before you reach a resolution.

Nolo.com reports that victims who accepted the insurance company’s first offer got an average settlement of $11,800. This compares to people who negotiated a settlement, which brought an average settlement of $42,500.

How Much Can You Expect From a Settlement?

Every case is different, but Nolo.com reports that victims almost always get more money when they work with an attorney. Victims who hired a lawyer received an average of $77,600 in compensation. This compared to an average of $17,600 for people who did not use a lawyer. You can expect to get several thousand dollars from a personal injury settlement, but there are ways you can maximize your outcome.

What Happens After I Accept?

After you accept a personal injury settlement, the insurance company will send a release to your attorney. You will likely have to go into your attorney’s office to sign the release. It will assert that you no longer have any claim against the at-fault party.

Once the release is signed, the insurance company will send your settlement funds to your attorney. Your lawyer will take their fees and costs from your compensation. Then, your attorney will give you the remainder.

Many of these steps can also be done electronically to expedite the process.

When Should I Call a Personal Injury Attorney?

You should contact an attorney as soon as possible after an accident where you’re injured. Your lawyer will need to collect evidence and work fast to preserve your right to compensation. Kisling, Nestico & Redick has an experienced team of lawyers who are eager to help.

Let KNR evaluate your claim and answer your questions. Call 1-800-HURT-NOW today for a free, no-obligation consultation.

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