Three Reasons You Should Not Accept The Initial Settlement Offer From An Insurer After A Car Accident
Car crashes can be stressful and exhausting for every party involved. Accident victims may face hefty medical expenses, lost wages, and emotional distress. Meanwhile, the party who caused the crash may feel devastated at the potential of losing a lawsuit. Because of this, both parties may try to settle their accident dispute right after the crash. This can happen before victims can discuss better options with an experienced lawyer from the Albrecht Law firm. If you have sustained serious injuries in a car accident, schedule a consultation with a skilled attorney as soon as possible. Do not agree to a settlement before you can consult with your lawyer. Also, you should refuse an insurance company’s initial settlement offer. Here’s why:
The Offer Doesn’t Reflect What You Deserve
Insurance providers only care about making and saving money when trying to settle accident claims. They may seem friendly because they assist you when making a claim; however, this is just a tactic they use to try to manipulate you. If your injuries are serious, you must not accept their initial offer since it may not be enough to cover your current and future losses related to your accident injuries. Instead, you should have an attorney thoroughly assess your claim, so they can determine its true value.
Signing an Acceptance Document Will End Your Claim
When an insurance adjuster asks you to sign an insurance release form, this means you have accepted their offer. However, this also means you won’t be able to seek additional compensation for your injuries later. So, when you suffer from delayed injuries or your current injuries get worse, you cannot pursue financial compensation to help you with the associated medical bills and lost wages. As a result, you will have to pay for your injuries and rehab, which could cause you serious financial stress.
You Must Reach Full Recovery
As you recover from your injuries, your doctor will monitor you until you reach maximum medical improvement. Before you have fully recovered, you must not accept a settlement offer from an insurer since you still do not understand your possible expenses fully.
Your injury attorney can help you have a sense of the worth of your injuries, so you can evaluate whether an offer from an insurance company is too low. The economic damages you can recover include medical and rehab expenses, car repairs, and lost wages. These damages can easily be added up; however, non-economic damages such as pain and suffering, emotional distress, and lost companionship are not easy to calculate. But your attorney can assess all of your losses accurately.