How Motorcycle Accident Settlements Work
Every motorcycle accident case is unique and makes every motorcycle accident settlement different. Both the settlement process and the amount you recover depend on the very specific details of your claim.
How Will You and the Insurance Company Reach an Agreement?
You have a goal, and so does the insurance company. You want to recover fair damages for your past, current and future damages. And, the insurance company wants to minimize the money it pays you.
Reaching a fair settlement will likely take some negotiation. The first offer made by the insurance company may be low, and your first offer may be rejected. Typically, formal negotiations start when your attorney presents the insurance company with a demand letter. The demand letter will detail who is liable for the motorcycle accident, and what injuries and damages you have suffered because of the crash.
You are more likely to be treated fairly if you are represented by an attorney. Insurance companies know that attorneys understand their clients’ legal rights and, insurance companies may be less likely to offer an unfair low settlement if you are represented by counsel.
Don’t Settle Until You Understand the Consequences
It can take a while to come to a fair settlement. However, it is often worth waiting for -- particularly when you have an attorney handling the negotiations and fighting for your fair and just recovery.
Specifically, you need to know that:
Settlements are final. They cannot be changed once they have been agreed to by both parties.
This is the only compensation that you will receive for your accident injuries. Almost all settlement agreements have specific terms that prevent the injured party from seeking additional damages in the future. The amount included in the settlement is the total amount of damages that you will ever recover for your injuries.
Before you agree to a proposed settlement offer, it is important to understand your own damages so that you can recognize a fair settlement and be confident that you are making the right decisions about your own recovery.
This Can Be Hard to Do, But You Don’t Have to Do It Alone
Use the free resources available on this website such as our videos, our book “The Ultimate Guide for Motorcycle Accident Victims” and our related articles to learn more about your rights. You can also start a free chat with us today if you have specific questions about your unique case.
For more information visit www.hupy.com