Picture this: You’ve suffered serious injuries in a car accident, and the at-fault driver’s insurance company reaches out with a settlement offer. They want to resolve the case quickly, but you’re unsure if the offer measures up to the injuries and losses you suffered in the crash. Must you accept it? The answer is no.
Insurance companies often extend settlement offers to resolve car accident claims to save the time and cost of going to court. However, you are not obligated to accept such an offer without careful consideration.
Rejecting the offer might be in your best interests
An initial settlement offer may not fully cover your damages. For instance, if you’re still undergoing treatment, it may be impossible to ascertain the full extent of your injuries. Settling too early could mean settling for less, leaving you covering future medical costs or lost wages.
Additionally, settling too early can be risky, especially when you share fault with the other driver. Remember, your level of fault will reduce your potential compensation. If you accept a settlement before all the facts are clear, you might agree to an amount that inaccurately reflects your contribution to the crash.
Lastly, settling your car accident claim closes your case. This means you cannot reopen it to seek additional compensation even if you discover additional injuries or your condition worsens.
Get an informed assessment of your claim
Before accepting any settlement, take the time to fully understand the value of your claim and your rights as a victim of negligence. Account for all your present and future damages to ensure you get what you deserve. These include lost wages, medical expenses and the suffering you endured.
Most importantly, do not overlook legal assistance. It can help guide you on whether the offer is reasonable, represent your interests during negotiations and guide you on your options towards securing a fair settlement.
