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Insurance Claim Settlement

What is an insurance claim settlement?

A claim settlement is an agreement between two or more parties to settle a legal claim with payment and other terms. One of the most common forms of claim settlement involves an insurance claim, often following a motor vehicle accident. When people make claims against an insurance policy, the company reviews the claim, determines if it is covered under the terms of the policy, and offers a settlement to pay the claim. In some cases the settlement offer is accepted.  In some cases, people may dispute the circumstances or amount of the claim, and the case may end up in court.

When a claim is settled, it usually cannot be reopened

It is important to know that settling a claim usually eliminates the right to make any future claims about the legal matter. If people are not satisfied with the terms of a settlement, they should renegotiate. Once a settlement is reached, the claim cannot be reopened at a later date.

Claim settlements can be resolved in trial as well

Legal cases where people are filing for civil damages are resolved with claim settlements as well. Sometimes the person being sued, called the defendant, may offer to settle before the case goes to court, a situation commonly seen when the defendant believes that going to court could result in a costly award or could create negative publicity. In other instances, a settlement is reached during court proceedings, with a judge or jury awarding damages to the plaintiff and the defendant being ordered to pay them.

Terms of a claim settlement affect both plaintiff and defendant

The terms of a claim settlement require both parties to abide by certain terms. The party paying out is required to pay out in full within a specific time frame. The party receiving a payment may be required to maintain confidentiality regarding the matter.

People who are unfamiliar with the legal system should be aware that a claim settlement can be used abusively. Before signing documents related to a settlement, the documents should be carefully reviewed by an injury lawyer.

 
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Laredo, TX

How Long Will It Take To Settle My Case?

In my experience, the average case should take 6-8 months from the time of the accident. However, there are several factors involved in how long it may take for a client to receive a check after a car accident.   

Laredo, TX

How Much Money Is My Case Worth?

The amount you receive from a settlement is based on the total settlement received from the insurance companies after attorney fees are deducted and costs and expenses are subtracted.

St. Louis, MO

Are You Getting a Fair Personal Injury Settlement?

Some large injury law firms might slam you through their process as fast as possible, sometimes settling for far less than your case is worth. They often do it to maximize their own profit margins.

So how do you know if you should accept the dollar amount your personal injury lawyer recommends?

Dallas-Ft. Worth, TX

Neck & Back Injuries Car Wreck in Dallas, TX Settles for $44,000

This client did not have a truly objective injury I could point to. She did, however, have symptoms that mimicked those typically seen with a herniated disc. Even though the symptoms resolved, I argued to the adjuster that the injuries the client had sustained did have a significant temporary impact on her life entitling her to fair compensation.

Dallas-Ft. Worth, TX

Writing a Demand Letter to Maximize an Injury Settlement

Don’t worry, you won’t be writing it. Your lawyer will because it’s critical to present all the facts and circumstances in a way that positions you well.

We’re not talking about manipulation or exaggeration here. This is a settlement tool we need to use on your behalf to make sure you don’t get run over by the insurance company.

Compensation in a Personal Injury Claim

When a person suffers an accident injury they often wonder what amount of compensation their case is worth. The money a claim is worth can vary. The insurance company uses a formula to determine the value of a claim.

The Time a Car Accident Personal Injury Claim Takes

There are questions most people have about how the process works and how long until you get a settlement. The answer is every accident is different, along with the amount of harm. Since the burden of proof is part of your claim and your lawyers there’s no definite time for a settlement.