You get in an accident. Later, you receive an offer from an insurance company. Is it enough? Will you need surgery? How much will everything cost?
You might have experience handling large amounts of money. You might even have some experience with medicine, insurance or law. You might just have a sneaking suspicion that, even though you have the option to take a big check, it might not be enough to cover your losses.
Understanding your position
If you have a serious injury, the insurance companies probably know much more about it than you. They might even attempt to take a position of authority and trust, as if they are managing your case. They do not, however, always have to use that information to further your best interests.
Predicting the cost
Just how much will treatment for your injury cost? The CBS News list of 50 most expensive surgeries starts at over $46,000. That is just for the surgery. There is much more that goes into recovery.
How do you add up the medical bills, the durable equipment, the costs of the doctors you prefer, the burden of the pain you suffered and the time you lost from work?
Gaining knowledge
Insurance companies know how much they might have to pay for specific types of injuries. They also know how much a person in your situation — under stress, hurt and probably confused — would be willing to accept.
The more you know about how much your injuries truly cost you, the more you can stand on even footing with these experienced negotiators. Of course, you might also have to substantiate your knowledge through medical evidence, logical arguments and hard data.
