How Auto Accident Settlement Negotiations Work in Florida

It’s been months now, and you just found out that you have an offer on the table from the insurance company to try to resolve your auto accident claim. You probably have many questions. How much of that settlement do you get? What is deducted? Where does the money go? How much does my attorney get? And many more. This blog will attempt to answer some of these questions for you.

A settlement offer is in, does it include my pain and suffering?

Yes, it does. Most people assume that their offer from the insurance company is only for their medical bills, but it does include compensation for all damages. In prelitigation, the offer that you get from the insurance company is meant to make you whole in all regards. That means the amount you receive covers you for not only your outstanding medical bills, but also for you pain and suffering, lost wages and any other damages you are claiming.

What comes out of a settlement in an auto accident case?

The money from a settlement will be used to cover multiple things. Obviously, your medical bills will be paid out of any settlement that you receive. These bills will be reduced and paid out of the settlement. Your attorney’s fees will also be covered out of the settlement money. This amount is typically 1/3 or 33% if they are working on a contingency fee. There are also likely to be certain costs that your attorney has incurred on your behalf during the course of the case. These will be paid out of the settlement as well. After all of that has been paid, the remainder will go to you.

My offer seems low, should I be worried?

No, do not be concerned. Most initial offers from an insurance company are small. There is a negotiation process and your eventual number for settlement will be much higher. Your attorney likely asked for a large number, and the insurance company likely came back with a very small number. Both sides know that in the end, there will be some give and take, and they will typically reach a number somewhere near the middle. So, you should not be worried if the initial offer that you see if much lower than what you expected. There should also be some realism when you get a settlement offer. Clients tend to see the million-dollar settlements on billboards and think that they are going to get an award like that because they were in an accident. That is not the case. Every case is different, and those results you see are the outliers. You should expect your offer to be very similar to what your outstanding medical bills are.

How does the insurance company calculate the amount they will offer?

Insurance companies utilize computer software to tell them what a fair offer on a case is. They take all of the documents that your attorney sends over and they put the information into a computer system. This system takes all of the codes on your medical records and tells an adjuster how much they are worth. The adjuster then uses this information to come up with what they believe is a fair offer. The attorney and client may not view it as a fair offer, but this is how insurance companies keep offers uniform across the board. Absent unique circumstances, the offers will be very similar across the board for other clients with similar injuries.

Injured in an auto accident? Call us today!

The attorneys at the Lopez Law Group are experienced in handling auto accident claims and know how to successfully take your case to its final conclusion. We know that you deserve compensation for the injuries you suffered, and we will work hard to make sure you get what you are entitled to. Give us a call today for a case review at 727-933-0015. Our attorneys are standing by and are ready to take your call. Do not wait, contact us today!