If you have been in an accident in Kentucky and have reached the point of recovery, reached maximum medical improvement or finished your treatment all medical and employment records are ordered. Once the records are received a settlement brochure is prepared and then sent to the at-fault insurance company. If you can reach an agreement as to what your injuries are and what your pain and suffering from those injuries is worth you can settle the case.
Almost all insurance companies now use a computer program to determine the value of your personal injury claim (including your pain and suffering). The purpose of these programs is to legitimize the lower offers that the insurance company wants to make. There are over 10,000 items that can be entered into these programs in a single personal injury case. It is important that your attorney understands how these programs work. By pulling out information from your medical records that will be considered by the programs and providing these items to the insurance company your attorney can make sure that all items are considered and consequently you receive a better offer. This is another reason why it is important you complete all medical treatments. If the treatment is not completed the inference on the part of the insurance company is that the injuries were not severe enough to complete treatment.
Trying to negotiate a reasonable settlement with the insurance company can be a waste of time, frustrating and futile if your attorney is not familiar with the claims settlement process. More and more insurance companies are taking a very aggressive stance towards settling accident claims. This is happening with greater frequency. Certain insurance carriers have a reputation for making unreasonably low settlement offers, even if the injuries are severe. Many insurance companies are using computer programs to validate these offers. This takes the settlement power away from the claims adjuster and systematizes it. In most cases a fair settlement can still be negotiated. If this cannot be accomplished your option is to litigate your case by filing a lawsuit. Don't let this process wear you down, it is intended to wear the victim down and settle for less than what is fair.
Once there is an offer a decision is made as to whether to accept the offer. This is your decision which will be made by consulting with your attorney. If a settlement is accepted the case is over. It is important to remember here that if the case is settled it cannot be reopened. If a settlement is not reached a lawsuit is filed and you will go to Court for a determination as to how much you should receive.
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About The Author
Michael A. Schafer is an attorney who concentrates his law practice in personal injury litigation in Louisville, Kentucky. He is the author of "
7 Potholes That Can Wreck Your Kentucky Accident Case" and "What You Don't Know About Buying
Car Insurance Can Hurt You". More information http://www.mikeschaferlaw.com/blog/how-insurance-companies-settle-cases.cfm
