Settling your case means that you are accepting compensation from the insurance company for the injuries and losses you were subjected to by or because of their client. When you accept a settlement the insurance company is no longer obligated to provide you with any additional forms of medical treatment or reimburse you for any additional expenses. Before you decide to settle your case, you need to make sure that the compensation you have been offered is fair and complete.
I Was Offered A Settlement The Day After The Accident
Insurance companies often try to settle cases within days of an accident occurring. They approach the injured party and make an offer of what seems to be a lot of money. The insurance adjuster does this in an effort to close the case fast and eliminate any further obligation from the insurance company.
Sadly, many people accept these offers thinking that the insurer is being kind or that they understand what type of burden the accident has caused them and their family. The truth is, the insurer is making this offer quickly so that you do not discover additional medical problems or losses or seek all of the compensation you are entitled to under the law.
You should never accept a settlement from an insurance company right after the accident or before you have spoken with an attorney. An attorney will review the facts of your case and the terms of the insurance policy and help you obtain the right amount of compensation for your losses.
Things That Must Be Considered Prior To Accepting A Settlement
There are several things that must be considered before accepting a settlement. These include:
• Maximum Medical Recovery. Have you reached your maximum medical recovery, or does your doctor feel you still need active treatment for your injuries? You should never accept any type of compensation while you are in the middle of treatment.
• Continuing Treatment. If your injuries are going to require continuing treatment, you will need to make sure that any offer made by the insurance company will cover your future medical expenses. Once that compensation is accepted, they will no longer cover your medical bills.
• Work Abilities. Can you return back to work? Will you be able to return to the same job, same pay rate, and same hours as you had before/ If you lose your ability to provide for yourself, you need to make sure that your compensation package includes this type of loss.
• Other Losses. Depending on the type of injury and the events surrounding that injury, you may be entitled to other forms of compensation. Your attorney will discuss this with you during your consultation. If you are entitled to specific forms of compensation, you need to make sure that these are provided in your settlement.
Protecting Your Rights
It is very important that anyone who has received a personal injury due to the negligent actions of another person or entity protect their rights. Insurance companies often take advantage of those who are injured by forcing quick settlements or “forgetting” benefits. Injury victims are often approached while they are not in the right mind to make such a serious legal decision.
If you have been injured, it is important that you speak with a personal injury attorney as soon as possible after the accident has occurred. This is the only way to truly protect your rights. Your attorney will work as your representative before the insurance company and ensure that you are treated fairly.
Your attorney will make sure that you are not forced to accept unfair compensation. They will review the financial data associated with your losses, listen to the medical advice and information provided by your doctors, and then use this information to create a fair compensation request. Once the request has been made, your attorney will continue negotiations on your behalf until a fair settlement offer is reached.
It is only then when your attorney has provided you with all the information necessary to make a good legal choice, should you accept any compensation for your injuries.