Personal Injury Cases: Your Ultimate Guide To Accepting Settlement Offers From The At-Fault Party's Insurer
The cost of treating your injuries and repairing your vehicle after a collision can be very high. As a result, you can accrue huge debts within a short time. In such a situation, you might be tempted to accept any offers from the other party's insurance company. While this might seem like a good idea at first, you may end up regretting your decision later. Therefore, accepting the first settlement offer is usually unadvisable before determining the total cost of your accident-related expenses. Read on to learn more.
Why You Should Not Accept the First Settlement Offer
If you accept the first insurance settlement offer, you will often be required to sign a release. This means you will have no right to demand any other payment from the insurance company in the future. You should know that this is the case even after learning of another injury or damage. For this reason, you should not be in a hurry to accept an offer regardless of the financial burden you may face because of the collision. Instead, wait until you understand the value of your damages and the amount you will need to restore your life.
Unfortunately, most insurance companies will not be willing to give you the time to determine the compensation you need. Therefore, they may intimidate you into accepting an offer lower than what you need. If they do this, consider hiring a lawyer from a trusted law firm. They can advise when it is the right time to accept the insurance company's offer.
How To Get Your Rightful Payment
Insurance providers should offer fair and equitable settlements to complainants. However, some pay as little as possible to increase their profits. In most cases, their initial offer may only cover some of the damages. This is why it is advisable to decline the first settlement offer and consult a lawyer instead. When you work with an attorney, they will help you to determine your expenses from the accident and the crash-related costs you will incur in the future. They will also negotiate with insurance companies on your behalf until you get a fair deal.
Some insurance providers take advantage of victims who do not understand the compensation process to offer them low payments. Therefore, hire a personal injury lawyer from a law firm if you do not know where to begin after a collision. They will ensure that your rights are protected and that you get payment equivalent to all your losses.