*The results are conditioned to the unique circumstances of each case. These results do not guarantee your case will result in the same compensation.
What is a “close-out” settlement? Insurance companies are potentially “on the hook” (liable) to pay No-Fault benefits for as long as you are disabled and in need of medical care and up to the No-Fault limits which is usually $20,000 in medical coverage and $20,000 in non-medical benefits (wage loss and replacement services (homemaker). This liability can be for life!
Accordingly, No-Fault insurance companies will sometimes offer the insured a “close-out” settlement. This means that the insurance company will offer some sum of money to the insured in return for the insured’s agreement to release the company from the responsibility to pay any future claims. This allows the insurance company to “close their books” on this claim.
The insured, on the other hand, benefits by receiving money for the “close-out.” The “down-side,” or disadvantage, is that the insured is giving up the right to make a claim against the insurance company for more benefits later. It should be remembered that, in most cases, the insured may claim any future medical expenses against any other health and accident insurance coverage that is available.
In the event that you have been offered a close-out settlement, your attorney at Schmidt & Salita Law Team can help you to decide what is in your best interests.
Dean Salita is a seasoned Personal Injury lawyer with over 30 years of experience, specializing in workplace injuries and occupational diseases like asbestos-related illnesses. He’s the chair of the Minnesota Association for Justice Workers’ Compensation section and has been recognized as a Super Lawyer with an AV rating by Martindale-Hubbell. Dean is dedicated to providing personal, compassionate legal support to his clients, guiding them through trials and the legal process.
I understand how overwhelming this can be. Let me handle the legal complexities while you focus on your recovery and getting back to normal.
Client Reviews
Google Review Schmidt Law Firm is so much more than the usual out for their back pocket firm they are a group of truly caring people. I was hit by a car & have memory loss. I don’t know how many times they all had to go over and over the same thing with me. They even gave me reminder calls for my doctors appointments. When things were so overwhelming I would call and all I could do is cry and they listened and never once complained or cut me short. Doug and Vanessa were all very helpful so was the rest of the staff. God Bless them all. By the way they got me a lot more than I had hoped for. You really don’t want to be on the opposing side of the table of Doug, he will rip you before you know he did it and he does it in such a nice way.
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“I wanted to extend my personal thanks and appreciation, as well as that of my siblings. We are appreciative of the representation you extended to our father. He always battled for the “little guy,” and you did that for him thru this process. Please extend this thank you to Molly as well. Thank you.”
“Doug Schmidt and his team were a godsend – they were compassionate and professional in helping my sister and I navigate our mother’s Wrongful Death. They were easy to communicate with, and I always felt my concerns and opinions were being heard. I would recommend Schmidt Law Firm to anyone who asks.”
“I feel very lucky to have Mr. Schmidt working for me. He took my case when my first lawyer would not and could not fight his way out of a paper bag. My case was very involved but Mr. Schmidt made it look so easy.”
“Doug and his team are top notch. They are hard working and meticulous with getting the best results… I felt like I was in good hands through the entire process. I couldn’t be happier with the outcome.”
“I wanted to tell you thank you for everything you have done for me I really appreciate it…I truly appreciate everything you did just taking the time to answer my questions, makes me feel good about what was going on and understanding what was happening and everything and just being patient with me. Again I truly appreciate ha...
“Just wanted to take this opportunity to thank you and your staff for all your efforts to collect benefits on behalf of my husband. Your kindness and sympathy during our initial visit with you was very much appreciated.”
This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by Founding Partner, Dean M. Salita, with more than 30 years of legal experience as a personal injury attorney.
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1600 Hopkins Crossroad
Minnetonka, MN 55305
Phone (952) 473-4530
Toll Free 1-800-656-8450
Fax (952) 544-1308
call us: 952.473.4530
