How Do Personal Injury Settlements Work?

Jan 14, 2022 | Personal Injury

 

Personal injury settlements help accident victims recover financially after someone else is negligent. Settlements aim to compensate a victim for the financial and non-financial losses that they incur due to someone else’s disregard for their wellbeing.

A settlement is when both parties involved in a case come to agreeable terms outside of court. Settlements can happen before you file a formal lawsuit. But often, a lawsuit helps motivate the other party to take your case seriously and come to agreeable terms. 

Calculating a fair settlement offer is complicated and requires expertise. That’s why it’s valuable to work with a Virginia personal injury attorney who knows how to estimate things like future medical bills and pain and suffering payments.

Here’s a look at important details you should know about personal injury settlements and how they work.

 

What to Expect in Personal Injury Settlement Negotiations

Before you enter a personal injury settlement negotiation, you’ll first meet with an attorney. Your attorney will work to gather evidence and prove your case. But your attorney will also provide the following helpful services:

  • Communicating with the other person
  • Requesting police reports or other case evidence
  • Prepping you for discussions so you know what to say and not say
  • Learning more about your injuries from your medical providers
  • Reviewing work documentation to prove lost income
  • Filing required documents for pursuing a lawsuit

 

Once you’ve put together the necessary documentation, you’ll present this information to the other party to request compensation for your losses.

Although you’ll be naming another person or entity as the other party in the lawsuit, you’ll likely negotiate with their insurance company to seek a favorable settlement. Insurance helps provide individuals, businesses, and municipalities liability protection in case of an accident. That’s why you’ll work with insurance company attorneys and adjustors when negotiating these cases.

During negotiations, you’ll present evidence of your injuries and the costs you’ve incurred as a result. You’ll also explain any future expenses you expect to owe for things like ongoing medical care or an inability or reduced capacity to work.

The insurance company will try to get you to settle for the lowest amount possible. Your attorney will likely recommend that you don’t accept the first offer the company makes. Instead, reaching a fair number will involve some back and forth like any good negotiation generally does.

 

Types of Personal Injury Cases

What types of personal injury cases might involve a settlement negotiation? Any case where another person’s or entity’s negligence led to damages for you or the death of a loved one could qualify you for a personal injury claim. Some of the most common types include the following:

  • Car accidents
  • Birth accidents
  • Dog bites
  • Premises liability claims
  • Product liability
  • Truck accidents
  • Work-related accidents
  • Wrongful death

 

Damages You Might Include in Settlement Requests

When drafting a settlement request, you might include the following areas of financial damages:

  • Current and future medical expenses
  • Lost wages
  • Reduced earning capacity
  • Out-of-pocket expenses
  • Mental health medical care
  • Pain and suffering
  • Punitive damages (in extreme circumstances)

 

Benefits of Reaching a Settlement

Settlements are preferable to taking your case to court. Reaching a settlement has the following benefits:

  • Much faster process than going to court
  • Less stress on the victims
  • Keeps everything private since court proceedings are public records
  • No need to pay court fees
  • There’s no guarantee that you’ll win a court case
  • You won’t have to keep fronting the money or accruing debt for your medical care

 

Moving your case along so that you can focus on getting better is the primary benefit that personal injury settlements provide. If you would like a legal team focused on your most pressing needs, contact Geoff McDonald & Associates. We’ll help you determine a fair settlement for your case and guide you throughout the process.

Geoff McDonald and Associates: 804-888-8888.

FREE CONSULTATION

No Fees Unless We Win







    Will My Insurance Go Up If I Hire an Injury Attorney?

    Car accidents can be costly – both to your health and your finances. When another driver is responsible for the crash, it’s important to ensure your rights are protected. While you will typically seek compensation from the other driver’s insurance company, the...

    Benefits of Hiring a Slip and Fall Attorney in Virginia

    Slip and fall accidents can cause serious injuries that impact your daily life and affect you for years. After an accident, you should focus on your recovery and let an experienced lawyer handle the details of your personal injury claim.  Often, these accidents occur...

    What Does the Insurance Company Really Think My Case Is Worth?

    The perceived value of your injury claim will depend on what evidence is available to the insurance company. In most cases, the value of a claim will be determined by the amount of property damage and medical bills associated with the accident. That said, the claims...

    What to Do After Suffering an Injury on a Business Property

    Immediately after suffering an injury on a business property, your top concern should be your health and wellbeing. Call 911 and leave the scene in an ambulance if you aren’t feeling well. Don’t attempt to drive if you have any concerns about your level-headedness or...

    Our Case Results

    $4,700,000
    Industrial Plant Accident

    Attorneys for the Plaintiff: Jeffrey A. Breit and Justin M. Sheldon Our client was killed in an industrial accident when an unauthorized worker was operating an overhead crane and pinned our client between…

    $1,750,000
    Rear-End Crash

    Our client suffered a traumatic brain injury, facial trauma, a dislocated hip and severe abdominal trauma when she was rear-ended at a traffic light by a tractor trailer. Suit was commenced shortly after…

    $1,250,000
    Assault of Log Truck Driver

    Attorneys for the Plaintiff: Geoffrey R. McDonald, Frank H. Hupfl, Justin M. Sheldon.
    Our client suffered a traumatic brain injury after being assaulted and knocked to the ground while fueling his logging…

    $860,000
    Drunk Driving Crash

    Our client suffered neck/head trauma and a broken wrist after his vehicle was struck by a drunk driver while he was stopped at a traffic light. Upon rejection of a settlement offer of $325,000, our litigation…

    $700,000
    Rear-End Collision

    Attorneys for the Plaintiff: Justin M. Sheldon and Geoff R. McDonald, Richmond
    GMA’s client was injured as a result of a rear-end collision in the greater Richmond area. The crash occurred a little after…

    Client Reviews

    Cheryl and Rich were wonderful and patient with me throughout the case. All of my questions were answered. They really helped me through this tough time and made sure to let me know what was going on. I really thank Geoff…

    Troy Saxby

    My experience with GMA staff was first rate. They always represented in a professional way and made sure I had everything as far as paperwork. Kara and Theo made sure to answer all my questions, was always available and so…

    Shirley Brown

    Geoff McDonald & Associates is the team that you want on the field if you’re in need of top notch legal defense! Mr. Taj Henley demonstrated true customer service skills and his expertise made me feel comfortable throughout the…

    Julian Reeves

    Geoff McDonald & Associates: Thank you Taj Henley for all of your hard work and dedication! Very expeditious in my case and I was very satisfied with my settlement. Will recommend to all my friends and family!

    Shareema Williams

    Geoff is number one in my book and I especially appreciate the support of Mr Henley

    Ebony Conwell

    I was so pleased with the knowledge and support from Mr. Taj Henley

    Kideem Frierson

    Thank you Geoff McDonald &Associates. A special thank you to Mr. Taj Henley

    Denise Conwell

    Mr. Taj Henley displays exceptional professionalism for Geoff McDonald & Associates, along with commendable communication skills and customer service. By his work ethic and commitment to the people he serves his value to any…

    Justin Fitzgerald