Personal injury law book on a desk

What is a low settlement offer?

admin Avatar

A personal injury settlement is intended to provide financial compensation to those who have been wronged or injured through no fault of their own. The settlement is meant to cover medical bills, lost wages, and even pain and suffering that you have endured as a result of your injury. However, when the offer you receive from an insurance company or opposing party seems insufficient, you may be facing a low settlement offer.

In this blog, we’ll explain what defines a low settlement offer, why it’s crucial to ensure your offer reflects the true extent of your losses, and how a Minneapolis personal injury lawyer can help you negotiate for a better deal.

The Purpose of a Personal Injury Settlement

A personal injury settlement aims to “make you whole” again after suffering an injury. That means it should cover all aspects of your losses, both economic and non-economic. While no amount of money can truly undo an injury, a fair settlement should give you the resources you need to cover medical expenses, lost income, ongoing treatments, and even compensate for the emotional and psychological impact of your injury.

Medical Bills and Treatment Costs

Your settlement should cover all current and future medical expenses related to your injury. This includes:

  • Hospital stays
  • Surgeries
  • Doctor’s visits
  • Prescription medication
  • Physical therapy or rehabilitation
  • Mental health support (if needed)

If the settlement doesn’t cover all of these costs, you could be left in financial distress while trying to recover from your injury.

Lost Wages

In many cases, an injury can cause you to miss work, either temporarily or permanently. The settlement should take into account all wages you’ve lost due to the injury, including future wages if you’re unable to return to your job or must work in a reduced capacity.

Pain and Suffering

In addition to your economic losses, a fair settlement should include compensation for your pain and suffering. This is a non-economic factor that takes into account the physical pain, emotional distress, and loss of enjoyment of life that you’ve experienced as a result of the injury.

What Defines a Low Settlement Offer?

A low settlement offer is simply one that falls short of covering the full extent of your damages. Insurance companies often start with low offers in the hopes that you’ll accept a quick payout without fully considering the long-term impact of your injury. However, a low offer usually doesn’t account for all the future costs and losses you’ll face.

Missing or Underestimated Expenses

A low settlement offer might fail to consider some of your more complex medical needs, such as future surgeries or long-term physical therapy. In addition, the insurer may offer to compensate only for your current lost wages, overlooking the possibility that your injury could affect your ability to work for years to come.

If you’re not careful, accepting a low settlement offer could leave you struggling to cover future expenses that you didn’t foresee when accepting the initial payment.

Insufficient Compensation for Pain and Suffering

Insurance companies often undervalue the non-economic aspects of a personal injury claim, such as pain and suffering or loss of enjoyment of life. These damages are less straightforward than medical bills or lost wages, but they are no less real. A low settlement might overlook these intangible losses, leaving you with inadequate compensation for your long-term emotional and physical distress.

How a Personal Injury Lawyer Can Help You Negotiate a Better Offer

If you’re presented with a low settlement offer, you don’t have to accept it. Working with an experienced Minneapolis personal injury lawyer, such as Mark Perron at Perron Law Office, can help you navigate the negotiation process to secure a more favorable settlement. Here’s how:

Evaluating the Offer

Your lawyer can review the settlement offer and determine if it’s fair based on the full extent of your injuries and losses. This often involves consulting with medical professionals, financial experts, and other specialists to calculate the true cost of your recovery.

Gathering Evidence

A Minneapolis personal injury lawyer will gather all necessary evidence to support your claim. This includes:

  • Medical records
  • Bills and receipts for treatments
  • Testimony from medical professionals
  • Employment records
  • Expert evaluations for future medical needs

This evidence helps build a case that demonstrates why you need a higher settlement to cover your long-term costs.

Negotiating with Insurance Companies

Insurance companies are skilled negotiators, and they often try to reduce the amount of money they have to pay. However, a personal injury lawyer knows how to negotiate effectively and advocate for your best interests. Your lawyer will handle the back-and-forth communication with the insurer, working to ensure that you receive the compensation you deserve.

Pursuing Litigation if Necessary

If negotiations fail to result in a fair settlement, your lawyer may recommend taking the case to court. This step can sometimes encourage the insurance company to increase its offer to avoid the costs and risks associated with a trial. If the case does go to court, having an experienced Minneapolis personal injury lawyer on your side increases your chances of a favorable outcome.

Don’t Accept a Low Offer

If you’ve been injured and are dealing with an insurance company’s low settlement offer, it’s essential to be cautious. Accepting a quick payout might seem tempting, but you could end up with insufficient compensation to cover your long-term recovery needs. By working with a lawyer who understands the true value of your claim, you can avoid accepting an offer that leaves you in financial hardship down the road.

Understand Your Worth

You are entitled to compensation that fully reflects the impact of your injury on your life. This includes not only your medical expenses but also your lost wages, pain and suffering, and any other related costs. A Minneapolis personal injury lawyer can help you understand what your case is worth and ensure that the settlement offer matches your actual losses.

Conclusion

A low settlement offer may seem like a quick solution, but it’s important to consider the long-term consequences. A personal injury settlement is intended to make you whole again, and a low offer may leave you struggling with unpaid medical bills, lost wages, and ongoing emotional distress. By working with an experienced Minneapolis personal injury lawyer, like Mark Perron at Perron Law Office, you can negotiate for a fairer offer that provides adequate compensation for your injuries. Don’t settle for less than you deserve—reach out to a lawyer who will advocate for your best interests.

If you’re looking for a Personal Injury Lawyer in Minneapolis, Perron Law Office is the most trusted name in the Twin Cities area. We proudly serve the communities of Lauderdale, Columbia Heights, Falcon Heights, Robbinsdale, Roseville, Crystal, New Brighton, Richfield, Arden Hills, Fridley. Simply reach out on 651-269-6208 to schedule your free consultation.

Scroll to Top
Call now!