There’s no question that motorcycle accidents can turn your life upside down. In addition to having damage to your bike, you’re likely to have significant injuries that can prevent you from working and enjoying life to the fullest.
When the wreck was caused by someone else, you can legally seek compensation for your lost wages, medical bills, and other related expenses. Typically, this will come as a settlement from the insurance company. However, there are some key questions you should be asking before you accept a settlement offer.
This article lists four questions you or your motorcycle injury lawyer should inquire about as you negotiate your settlement.
Question 1: When Will I Heal From My Injuries?
The types and extent of motorcycle accident injuries you can potentially experience are vast, and it might not be immediately apparent how long it will take to heal and whether you’ll have permanent, irreversible damage.
While it may be tempting to accept a settlement offer as soon as possible, this strategy can backfire. If you agree to a settlement offer too early and you later discover your injuries are more severe than you initially thought, you can’t go back and request more money. This is why a bike accident lawyer will usually recommend waiting to settle until you have recovered from your injuries or have a more specific medical prognosis about your road to recovery.
Question 2: Is the Settlement Offer Fair?
Due to the profit-driven nature of insurance companies, you can typically expect an insurance company’s initial settlement offer to be lower than what is likely fair. Often, the insurance company will offer you cash quickly because they know you are desperate to pay your bills and return to normalcy.
A motorcycle crash lawyer can evaluate your case and help you come up with a fair number that should be reflected in your settlement offer. Further, an attorney can help negotiate for a higher amount.
Question 3: How Strong Is My Case?
No matter how confident you are that the other guy was actually at fault, the insurance company is going to make its own determination. Not only that, but the insurance company will look at the facts through a lens that is most favorable to their client, not you!
This can be frustrating (and scary) if there’s any ambiguity about how fault should be assigned. A motorcycle wreck attorney will look at the available evidence, including the police report, witness statements, surveillance footage, forensic data, and more to come up with an estimate of how fault will be apportioned.
If the evidence is strongly on your side, it can increase the chances of a favorable settlement offer and even open the door to negotiating for more money. In some situations, settlement talks fail. When that occurs, the case goes to trial, and the quality and quantity of your evidence will play a crucial role in the outcome.
Question 4: What Are the Defendant’s Insurance Policy Limits?
Before settling a claim, it’s a good idea to know the other driver’s policy limits. For example, if you have $100,000 worth of damages that you believe should be awarded, but the other party only has $50,000 worth of insurance coverage, it can be difficult to recover the balance.
On the other hand, if the other party has a generous policy and the insurance company insists on submitting a lowball offer, you may have room for negotiation.
Contact an Experienced Motorcycle Accident Attorney
At Stewart & Stewart Attorneys, we have an experienced team offering motorcycle accident legal help across Indiana. For a free consultation, call (317) 827-7934.