How Do Insurance Companies Determine Personal Injury Settlements

Personal Injury Attorney

It only takes one time experiencing a personal injury accident to know how stressful the aftermath can be. One common question surrounds how insurance companies determine how much of a settlement you’re entitled to. The answer involves understanding the insurance claims process and how it relates to you.

The Job of an Insurance Adjuster

Determining how much money you will get involves an insurance adjuster. Adjusters are employed by insurance companies. Their role is figuring out the value of a claim brought against the company. They will look at the case much like a court jury would, investigating details to determine what damages make sense. They may consider:

  • Actual expenses that a victim has paid and may have to pay
  • Lost wages from missed work
  • Pain and suffering damages

This is just a short list of what an adjuster may consider. The monetary value of some of these, like lost wages for example, is easily determined. But how do you determine and pay out the correct value for someone’s pain and suffering? Insurance adjusters will take many factors into consideration to reach a dollar amount, but rarely is it enough to cover everything.

Adjusters Work for Insurance Companies

When asking how personal injury settlement amounts are reached, it’s important to remember that insurance adjusters work for the insurance company. That means they are motivated to benefit the companies, not you. They want to reach a settlement to avoid going to court, and they want that settlement to be as low as possible. An adjuster may look at the above factors, reach a baseline settlement number, and approach you to settle for an amount that is just barely enough.

Personal injury expenses can emerge weeks or months down the road. One example is when a subtle injury during an accident finally becomes apparent. If you’ve already accepted a settlement, you won’t be able to get more money to deal with the costs from this newly recognized injury. The good news is that insurance companies typically want to negotiate rather than go to court. With a good personal injury attorney in Bristol, TN to handle those negotiations, you can ensure you’ll get a settlement that’s aligned with your needs.

Insurance adjusters are there to do a job, and that job is keeping the insurance companies in the black. Fortunately, a personal injury attorney’s job is to get you a fair shake. Call one today to discuss how you can get the best personal injury settlement.

Thanks to The Law Offices of Mark T. Hurt for their insight into personal injury claims and how insurance companies determine settlements.