Tips for developing a settlement offer

Tips for developing a settlement offer

An accident in the common area of a neighborhood could leave a Homeowners’ Association (HOA) or its insurance company on the hook for any resulting damages. Although an HOA may be able to escape liability altogether, in many instances they simply can’t. But the damages an alleged victim claims may be far outside the scope of damages seen by the HOA and its insurer.

Therefore, it’s important to know how best to position your case for success. While that may mean preparing for and ultimately taking your case to trial, it can also mean finding a way to settle the case.

Considerations in creating a settlement offer

Before a settlement offer is made, a number of factors should be taken into account. With that in mind, it may be helpful for you to consider each of the following:

  • The reasonable medical expenses and lost wages suffered by the alleged victim
  • The existence of contributory negligence that may reduce the plaintiff’s recovery if he or she were to succeed at trial
  • Any evidence that may demonstrate that the plaintiff is solely responsible for the accident in question
  • The maximum amount that you’re willing to pay
  • Your desire to move past the matter as quickly as possible
  • Your ability to persuasively present your case while at the negotiation table
  • The financial viability of the insurance company and/or HOA

Competently navigate your legal issues

The outcome of your legal dispute can have a significant impact on your insurance company or HOA for years to come. That’s why you need to know how to competently and confidently navigate whatever issues that you may be facing. With that in mind, it might be beneficial for you to seek out guidance from a legal professional who is well-versed in handling legal matters pertaining to HOAs and insurance disputes.