Car accidents can throw your life into chaos. You will be busy attending medical appointments and therapy sessions and taking calls from insurance companies. Also, you will need to make some calls to get your vehicle repaired and hire a personal injury attorney to help you with the legal process.
Amid the chaos, consider taking any settlement offer from an insurance company and get it over with. When you have cash in hand, you have money to pay for medical care and vehicle repairs and stop getting bugged by an insurance adjuster. A personal injury attorney at brianazemikalaw.com knows that an early claim settlement can help you feel like your life is becoming normal again. But before you accept any settlement offer, you need to consult with an injury attorney first to know your rights and options. An attorney will explain when you can accept an offer and what happens if you sign one too early. Here’s what you should know before you accept a settlement offer from an insurer:
Rejecting a Settlement Offer Does Not Mean You Cannot Receive Compensation
When an insurance adjuster approaches you and makes a settlement offer, they may say it’s the best they can offer. You may think that not accepting that offer means you won’t get anything at all. However, this is far from the truth.
A settlement offer is just the start of a negotiation process. Insurers will want to settle claims as quickly as possible with the least amount of payout. This can be achieved through a quick settlement. However, a quick settlement is usually not fair for you as an accident victim since it may not reflect the true value of your claim.
You can make a counteroffer to the insurer. If the insurance providers refuse to settle your claim without court intervention, then your attorney can take your case to trial. Personal injury lawsuits are costly processes for insurers. If you understand how the claims process works and your claim’s value and that you are willing to take your case to court, the insurer can be motivated to make a reasonable offer.
A Settlement Agreement is Legally Binding and Final
A settlement agreement includes a liability release. Thus, the insurer won’t be responsible for payments beyond the agreement. You can’t ask for additional compensation in the future or file a lawsuit even if your injuries get worse or if unexpected complications arise. The lack of sufficient information is the main danger of accepting an early settlement offer and adjusters know this. That is why an insurance company will rush you to accept an offer quickly.
Injuries Can be More Severe Than They Initially Look
You may not know your injury’s full extent right away due to a lot of reasons. This is because your injury may require more extensive medical treatment than expected, complications arise, your wounds may not heal as anticipated, or secondary infections may develop. Before you accept a settlement offer from an insurance adjuster, understand how your injury will impact your current and future job opportunities, overall health, activity and mobility levels, and quality of life. Also, you need to know the necessary ongoing treatment or care due to the accident. Such things are often known after you reach maximum medical improvement. This means that your doctor has determined that nothing can be done to improve your condition. Any injury or impairment that you still experience at this point won’t get better. The condition may be permanent. Thus, do not accept an offer from the insurer before you reach maximum medical improvement since your injury’s full effects are still not known.
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