It can be very hard to decide when it is the best time to settle your motorcycle accident claim with the negligent driver’s insurance company. You may want to resolve your claim quickly so that you receive your check if you have mounting medical bills and no income coming in to pay them. However, you do not want to accept significantly less compensation than you are entitled to. Here are some considerations that you should consider when making this important decision about your case.
Factors to Consider When Deciding Whether to Settle Your Motorcycle Collision Claim
Most motorcycle accident claims settle without the need to go to a jury trial, and yours will most likely be resolved before trial too. However, you should never settle your motorcycle collision case without first consulting with a motorcycle accident attorney who will be able to accurately value your claim and the strength of your case. They will weigh your options with you and help you make the best decision that meets your goals. Here are some of the factors you should consider whether it’s the right time to settle your case:
- First offer. Is this the first offer by the insurance company? If it is, it is probably a low-ball settlement offer they are hoping you will accept to settle your claim quickly. It is best to wait until they offer a fairer settlement.
- Your injuries. If you suffered serious injuries, which is common in motorcycle crashes, you should wait until you fully recover or learn your final prognosis if you will not make a complete recovery. This will ensure that all your future medical bills, lost wages, and pain and suffering are including in your settlement. It could take months or longer to reach this stage in your medical treatment.
- Value of your claim. If the value of your claim is higher, the insurance adjuster will fight harder to deny your claim or pay you less than you are entitled to save the insurance company money. This can make the process of settling your claim take longer.
- Complexity of your case. If there are complex disputes that are delaying your settlement, your attorney could need to collect additional evidence, hire expert witnesses, and argue more with the insurance company before they agree to be reasonable. It could be best to wait out the process rather than accept an unfair offer.
- Weaknesses in your case. If there are legitimate disputes in your case, your attorney may advise you to accept a quick settlement that does not fully compensate you. This may be a better choice than risking receiving no money if you go to trial.
- Statute of limitations. The statute of limitations is the deadline you have to file a lawsuit. If it expires soon, your lawyer will need to file a lawsuit for you. While your case will still most likely be settled, you may have to go through the litigation process before this happens.
At Tavss Fletcher, we understand how a motorcycle accident can turn your life upside down and the challenges you face in fighting with the negligent driver’s insurance company. We’re here to help you build a strong claim for compensation and to make the best decisions in your case. Call our Norfolk office or fill out our online form to schedule your free consultation to find out more about how we can assist you.