If you were seriously injured due to someone's negligence, you may be entitled to financial compensation from either that person directly or the company that they work for. But if you want to maximize the amount of money you can receive, you have to be patient. Here are a few tips to keep in mind as you move forward.
Don't Take the First Offer You Receive
If you are suffering due to the injury, you might be tempted to take the first settlement offer you receive. But while that money might help you in the short term, you could be leaving even more money on the table by not being patient. If the other party thinks you just want a quick payday, their offer will likely reflect that. But if they think you will dig in for the long run, they may be willing to sweeten your deal in order to try and avoid a day in court. When you receive a settlement offer, you should always respond with a counter and go from there.
Account for Lost Earning Potential
When you try and figure out a number for your personal injury settlement, don't just consider your pain and suffering or lost wages in the short term. If your injury has changed your life in a way that could affect you far into the future, you should account for this in any negotiation. What might seem like a generous settlement offer at first could actually be an attempt to low ball you once you figure out just how much money you are going to lose out on over the next 30 years due to the injury.
Hire an Attorney
For best results, you really need a personal injury attorney on your side. Even if the other party attempts to settle without involving lawyers, you really don't want to go to the negotiating table without one. A personal injury attorney can help you determine what a fair settlement would be and can handle any counter offers or actual negotiation for you. Once you lawyer up, the other party will realize just how serious you are and your offer may increase.
If you want to maximize the amount of money you receive in a personal injury settlement, start by calculating how much money you are going to lose not just in the short term but in the following decades as well. Be willing to be patient and make a counter instead of accepting the first offer you receive. For more best practices, contact a personal injury attorney today, such as at Gartner Law Firm.