Determining Settlement Value
The value of your settlement is decided via negotiation between the insurance company and your Orange County personal injury lawyer. There is no way to know exactly what the value will be before the actual settlement or verdict, but a qualified Orange County personal injury lawyer will be able to determine a good settlement range based on all of the specific details of your case and then negotiate within it.
After you and your Orange County personal injury lawyer have determined what a general settlement range should be, your Orange County personal injury attorney will present a demand to the insurance company. This is in anticipation of the company paying a settlement within the pre-determined range. Although you have the final say in what the settlement range is, you should consider your Orange County personal injury lawyer’s expertise in the law and take your Orange County personal injury lawyer’s advice seriously as to what you should expect from your case.
The demand figure in your Orange County personal injury attorney’s request for settlement will usually be at least somewhat higher than the upper end of your settlement range. This leaves your Orange County personal injury attorney room to negotiate in your case. A request for settlement is often made in an amount that gives both your Orange County personal injury attorney and the insurance company plenty of space in which to go back and forth with offers. Because of this, you should not consider the amount in the demand letter to be an accurate representation of what you will win in your case.
Though inflated, the demand should be made within a reasonable range. Too high an amount will not work out for you as a claimant. Because the insurance carrier will undercut your Orange County personal injury attorney’s demand amount, you might think that asking for an extremely large amount is a good idea, when in reality, a totally unrealistic demand amount could lead to the insurance company completely ignoring the demand letter. This delays the process and could make it more likely that your Orange County personal injury attorney will not be able to work with the company to arrive at a settlement amount, necessitating a trial.
Your Orange County personal injury lawyer has the knowledge and expertise to decide on what a realistic settlement range is as well as what a reasonable demand amount is. Working with the insurance company on your own can mean losing out on a fair settlement amount. Contact Samer Habbas for a consultation on your case.