Your life might quickly and dramatically alter due to a traumatic brain injury (TBI). In addition to a pile of medical bills and other costs, it can cause memory loss, issues with attention and concentration, the inability to work or complete specific chores, difficulty participating in preferred hobbies, and much more.
If someone’s negligence has caused your traumatic brain injury and you were injured, you may be entitled to financial compensation. Either negotiate a reasonable settlement with the insurance provider or defend your right to reimbursement in court.
Yet, even while most TBI victims who file a brain injury claim reach an out-of-court settlement, this does not imply you should accept the first few offers the insurance company makes. Determining a reasonable settlement amount can be challenging, and receiving compensation much less than you require to meet your needs could result in future financial and personal suffering.
Hence, while it’s crucial, negotiating a TBI compensation is also quite hazardous. Be sure that you are confident in the payout before committing to anything.
What Factors Determine TBI Settlement Values?
Key elements that are taken into account while determining settlement values include:
The severity of your injuries: A person with a moderate concussion may feel symptoms for a few months, while someone else may get post-concussive syndrome, which can last a lifetime. Your compensation might be more significant if your injuries were more severe.
Medical and long-term care requirements: Young individuals may receive more significant settlement sums for TBIs since they frequently result in lifetime disabilities. It is because their TBI will probably impact them for a more extended period, and they need more post-injury treatment.
Capacity to work: After a brain injury, you can (and need to) request compensation for your lost wages. If you can return to part-time employment or a job that is easier and more routine but has lost most of your earning potential owing to your injuries, you may be able to claim lost wage-earning capability.
Suffering and discomfort: Many TBIs result in symptoms that have an indirect impact on expenses or salaries, such as personality changes, social difficulties, friendship loss, and the inability to perform or enjoy activities and hobbies.
Liability concerns: If you were somewhat to blame for your accident, your capacity to claim damages might be proportionately diminished (or, in some instances, eliminated).
Reasons Why It May Be Risky to Settle Too Quickly Following a TBI
Insurance firms frequently pressure traumatic brain injury victims and their loved ones to reach an early settlement. But you may not always want to do this. Here are a few particular reasons why it might be harmful to settle your TBI personal injury claim too soon:
Brain Injuries Are Difficult to Identify
Many brain damage situations are challenging. It can be difficult to predict how long-lasting and severe your symptoms will be, how much medical care you’ll require, and whether you can return to work in the early weeks following a car accident or other traumatic events.
Also, you can display apparent symptoms that cannot be thoroughly proven by routine scans or medical testing. Because of this, the insurance provider can assert that your TBI symptoms are fabricated or overdone.
You Might Not Fully Comprehend How Severe Your Wounds Are
Even if you are still recovering, it is simple to underestimate your future medical and care requirements. You can hope you’ll return to work and everyday life in a few months or a year. But, if problems occur, you could have to pay for medical care and missed wages for the rest of your life.
Insurance Companies Aren’t Looking Out for Your Best Interests
Unfortunately, rather than ensure that the offer is enough to fulfill your long-term needs, the insurance company’s first focus is determining the lowest offer you would accept. Their focus is on their bank profitability, not on your recovery.
The initial offer from the insurance company will often be lower than the case’s value and what the insurer is eventually willing to pay.
Settlements Are the Final Verdict
When you settle a dispute, you almost always willingly and permanently forego your ability to seek extra compensation later. There is no way to gain a second chance, even if that settlement amount expires long before your debts are paid and you still require future medical treatment.
Consult Bourassa Law Group Personal Injury Attorneys
Traumatic brain injury can be life-changing. To cope with the damage and medical expense caused to you in a car accident caused by someone else’s negligence, it is best to contact an experienced traumatic brain injury attorney in Nevada.
At Bourassa Law Group, we work persistently to compensate clients fairly. Call us at 1-800-870-8910 for a free consultation today! Let us help you get back on the path to recovery with financial stability.
1-800-870-8910