Determining a Settlement Offer
This entry was posted on Wednesday, December 31st, 2014
Posted in Uncategorized | Posted by: George Heppner - San Diego Personal Injury Attorney
Historically, insurance adjusters determined the amount of a settlement offer by calculating all of the medical bills and tripling that figure. If the victim missed time from work, they would add that number into that figure and offer a settlement in a soft-tissue injury case. For example, if the medical bills totaled $5,000 and the victim did not miss work, the offer would be about $15,000. A San Diego personal injury attorney could help clients determine if they should accept an offer based on these guidelines.
Using Computer Programs to Determine Settlements
The use of the Colossus computer has completely changed how the adjuster reaches a settlement amount. While they might insist they have not used a formula, they will actually review the figures before they offer a settlement. The insurance company will look over the medical bills and reduce them by about one-third, or $1,300 in this case. They claim this number is what the bills should have been from the beginning. According to our San Diego personal injury lawyer, they will then make an offer of about double the remaining number. In the listed example, they will claim that medical bills should be $3,700, and by doubling that, they might offer about $7,400. This results in an offer of less than half of what it might have been years ago.
Our San Diego Personal Injury Attorney Explains Unnecessary Litigation
The value of your claim has dropped dramatically because after expenses and fees to your San Diego personal injury lawyer, you will not have much left. This can result in unnecessary litigation because the victim has not received a fair offer. An attorney might even decide it is not worth it to handle the case, stop all negotiations and withdraw as your counsel of record in the middle of proceedings.
Helping Your San Diego Personal Injury Attorney Obtain a Fair Settlement
While it is true that developing a strong case depends upon the knowledge and experience of your attorney, you have certain responsibilities to the success of your case as well. It is very important that, as a claimant, you take your duties seriously and you take the proper precautions to prepare your case.
Contact A San Diego Personal Injury Attorney
If another law office refused to work with you because they did not think your case was worth enough or if you have questions about how the insurance adjuster arrived at a settlement amount in your case, speak with San Diego personal injury attorney, George C. Heppner to make sure you get the settlement you deserve. Call 844-891-3500 today!