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When to Accept a Settlement Offer for a Personal Injury Case in Indianapolis

Jan 20, 2024 | Personal Injury


Settlement Offer for a Personal Injury Case in Indianapolis

After an accident, the other party’s insurance company may offer a settlement. That’s great news, especially for those who’ve been out of work for a while and have a big stack of doctor’s bills to pay. However, to ensure your rights are fully protected, consider consulting a personal injury attorney in Indianapolis.

That first settlement offer may seem generous, but is it really? Insurance companies are notorious for paying as little as possible, and what they offer may not be nearly enough.

Do Not Accept the First Settlement Offer from an Insurance Company 

The phone rings, and it’s the insurance company calling with a settlement offer. Unfortunately, this insurance offer may be far less than expected, and accepting the first offer could seriously hurt the financial outcome of one’s case.

No matter how good that first offer seems, victims in Indianapolis shouldn’t take the first offer without talking to a personal injury attorney. If it’s low, an attorney can start the settlement negotiation process.

Make Sure an Attorney Has Assessed the Damages First

A personal injury attorney with experience can help assess the damages. Damages could include:

  • Accident-related medical bills, current and anticipated
  • Lost wages from taking time off work
  • Loss of earning potential
  • Property damage
  • Pain and suffering

Is the Settlement Offer a Lump Sum or Structured Payments?

When to accept a settlement offer also depends on whether the insurance company offers a lump sum or structured payments. With a lump sum offer, the insurer cuts a check for the entire settlement amount. If they offer structured payments, they’ll send the money a little bit at a time.

Structured payments can be unappealing if one has many bills to pay immediately. If the insurer offers such a deal, clients may want to ask their lawyer to renegotiate.

What If the Insurance Company in Indianapolis Makes a Lowball Offer?

Nearly every client would prefer trial avoidance if possible, but heading to court might be the smart option if the insurance company offers a lowball settlement. If the insurer refuses to negotiate for more, a lawyer can represent clients in a trial.

Here is a video that explains the topic:

About Stewart & Stewart Attorneys

Stewart & Stewart Attorneys is a personal injury firm handling car and truck accidents, slip-and-fall accidents, medical malpractice, and workers’ compensation cases.

To learn more about when to accept a settlement offer or the implications of rejecting a settlement offer, call the firm at (800) 333-3529 for a free consultation and legal representation.

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If you have been involved in an Indiana personal injury accident, contact us at Stewart & Stewart Attorneys. Our Indiana personal injury lawyers represent victims throughout the state, including Carmel and Anderson. We have also successfully advocated for clients throughout the area, including Fort Wayne, Gary, Indianapolis, South Bend. Complete a free online consultation form or call us at (800) 33-33-LAW!

Stewart & Stewart Attorneys have the knowledge and experience to defend your rights in the following areas of Indiana injury law: auto accident, brain injury, drug injury, defective product, fire and burn injury, insurance dispute, medical malpractice, motorcycle accident, nursing home abuse, slip and fall,  truck accident, workers’ compensation and wrongful death.