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Three Crucial Things To Consider Before Settling A Florida Keys Bicycle Accident Claim

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Americans have long been known to be the most litigious people in the world. But now, Americans are filing far fewer lawsuits. For example, less than 1,000 people, including alleged victims of inattentive motorists, filed tort lawsuits in 2015. It is said that approximately 5% of personal injury cases go to trial. The remaining 95% usually settle outside court.

If you were involved in a Florida Keys bicycle accident, there are several reasons why you would choose to settle your case out of court instead of going to trial. For example, choosing to settle your bicycle accident case could mean that you get your compensation much quicker. However, before settling a bicycle claim, it is vital that you consider several things. Otherwise, you might end up accepting less than you deserve.

Below are three crucial factors to consider before settling a bicycle accident claim.

The Expenses You Have Incurred

Before accepting a settlement deal from an insurance company, you need to consider the expenses you have incurred ever since you got into your bicycle accident. At a minimum, if you were severely injured in your accident, you have incurred medical expenses. Medical treatment is expensive in the U.S., so when the time comes to consider if the amount the insurance company is offering you is fair, medical expenses should come first in your consideration. If you have incurred other expenses, such as costs of replacing lost property or your damaged bicycle, ensure you consider them too before accepting a settlement deal.

If, for example, you will require future medical treatment, it is crucial that you consider the cost of that treatment before settling your bicycle accident claim. This brings us to the next factor you need to consider.

Whether You Have Reached Maximum Medical Improvement

It is not advisable to accept a settlement from an at-fault party’s insurance company before you reach a point of “maximum medical improvement” (MMI). MMI is when you have fully recovered from your injuries, or your condition has gotten to a point where your physician can predict what ongoing medical care you’ll need. After you reach MMI, you can be able to predict how much you will need for your future medical expenses and how much income you will lose after your case has been settled. Remember, once you settle your bicycle accident claim, you can’t go back to the insurance company and ask for more money.

Impact of the Bicycle Accident on Your Life

Before settling a bicycle accident claim, you need to consider the impact the accident has had on your life. Often, after a bicycle accident, a victim experiences pain and suffering. Pain and suffering is a form of non-economic damage in Florida. In addition to being compensated for medical bills and lost wages, you deserve to be compensated for any non-economic damages you have experienced as a result of your bicycle accident. Other non-economic losses you may be eligible to be compensated for include permanent disability, loss of enjoyment of life, and profound lifestyle changes.

Contact a Key West & Marathon Bicycle Accident Lawyer

To protect your right to fair compensation after being involved in a Florida Keys bicycle accident, contact a skilled and experienced Key West & Marathon bicycle accident lawyer at Florida Keys Injury. Contact us today to schedule a free consultation.

Resources:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0627/Sections/0627.737.html

wsj.com/articles/we-wont-see-you-in-court-the-era-of-tort-lawsuits-is-waning-1500930572

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