You might think that insurance companies are looking out for your well-being when they reach out with an early offer shortly after an accident. In the face of medical bills and other sudden expenses brought about by your injuries, accepting the offer might seem the best thing to do. However, it is not.
Accepting an early settlement offer will preclude you from getting full compensation when your injuries turn out to be worse than you thought. Also, the net amount clients recover from settlements without a lawyer are less than what the client nets even after paying attorney fees when they have a lawyer.
Do not rush to settle
Before agreeing to a settlement with the insurer, you should have a full scope of your damages, including the complications that may arise later on. That way, you can accommodate any future medical costs in your claim and ensure you are covered.
It is also crucial to have a clear picture of your other damages, such as lost income and earning capacity, as well as the pain and suffering from your injuries. These can only be established after the extent of your injuries is ascertained.
It is important to have legal advice to full evaluate the settlement options.
The initial offer is usually lower than what you deserve
In most cases, the amount offered at first is always less than the actual value of your claim. Remember, insurers are out to protect their financial interests, and the lower the settlement, the better it is for their business.
A lawyer can help you get the best possible offer after considering all the factors.
Getting what you deserve
Take your time to assess the damages you suffered and may be suffering in the future from your injuries and get the help you need to properly do so. Doing so will avoid an instance where you will be short-changed because you are not aware of how much your claim is worth.
Finally, ensure that you protect your rights and interests throughout the claims process by learning more about your legal options in case settlement negotiations stall.