There are so many things to consider after an injury from another’s negligence. The victim may be eligible for compensation for damages, which is why it’s so important to be informed about legal rights and the potential outcome of your case.
Often, in a personal injury case, the accident victim will be offered a settlement by the insurance company. When in this position, it’s wise to give it some careful thought and consideration, and even consult a personal injury attorney. Usually the victim is tired, still in pain, and already growing anxious about the financial losses your accident has brought. One may wonder if he or she should just go ahead and take the settlement to meet current expenses.
This is what the insurance company is hoping for, because in most cases, their initial settlement offer is a low one, intended to save them money and put your case to rest. Unfortunately, the offer may not adequately compensate for future damages. Or in some cases even the current ones.
Drawbacks of Accepting a Hasty Settlement
The insurance company’s offer may seem to cover medical costs at the moment, but what many people don’t realize at the time is that injuries can linger and cause complications down the road that require further time off from work as well as further medical attention.
When you accept an insurance company’s initial offer, it usually stipulates that the claimant cannot collect any further damages related to the accident. So if the victim happen to have complications later, he or she could face financial difficulty trying to meet these new expenses.
Personal injury attorneys understand how injuries can impact a person’s life for months or even years to come. They also know the ins and outs of the law and how to deal with insurance companies and adjusters looking for a quick settlement.
Making quick, uninformed decisions can cost money in the long run. Before accepting an insurance company’s initial settlement offer, speak with a personal injury attorney to find out what the case may truly be worth.