Have You Been Offered a Settlement by the At-Fault Driver’s Insurance Company?
If you are considering accepting a check from an at-fault driver or their insurance company, please take a moment to reconsider. Accepting a check from the at-fault driver’s insurance company after an accident is rarely a good idea for many reasons.
Why Is It Almost Always a Bad Idea to Accept a Check From an At-Fault Driver or Their Insurance Company?
The minute the check clears, the case is settled. You cannot seek additional compensation from the at-fault driver or their insurance company at a later date.
You Could Miss Out on Additional Compensation:
Your claim could entitle you to additional compensation or more compensation than they are offering. In almost every case, the initial offer is a low one. It’s only logical. If one person owes another person money, and they get in touch with an offer to pay what they owe, they will seldom immediately offer the full amount due. They will, instead, offer a lower amount to see if it will be accepted. This type of policy is just good business, and insurance companies are businesses. They are in business to make a profit, and one of their primary methods of increasing their bottom line is minimizing the money paid out on personal injury claims.
Settlement Offers from Insurance Companies Start Low:
Insurance companies, as stated previously, are businesses looking to make a profit, and they negotiate settlements every day. Expecting to come out on top in a negotiation with an insurance company without a thorough knowledge of the industry and years of experience negotiating claims settlements, is not realistic. Without the help of an experienced personal injury attorney, you can safely assume that any insurance settlement offer you receive is not the full amount you deserve. With an experienced Dallas personal injury attorney, you won’t leave money on the table because they’ll negotiate on your behalf for maximum compensation.
Ongoing or Future Medical Expenses May Not Be Included In the Calculations:
You may not even know the extent of your injuries or the amount of your related medical expenses or future medical expenses. Injuries sustained in a car accident often require ongoing treatment. In many cases, the injured party can recover the costs of ongoing costs from the at-fault driver or their insurance company. Accepting a check early in the game often means these future or ongoing medical expenses are not considered when determining the settlement amount. A good attorney can work with you to establish a valid estimate of future medical costs, so you have a good starting point in the negotiations.
Early Settlement Offers Usually Don’t Include Potential Additional Damages:
There may be additional damages in addition to medical expenses and repair bills that aren’t being considered when a check is offered for settlement immediately after an accident. Additional damages could include: reduced future earning capacity, lost wages, pain, and suffering, or even punitive damages depending on the details of the accident. It’s important to discuss your situation with an experienced personal injury attorney before accepting a check so you can consider the full extent of your claim.
If you are being offered a check by an at-fault driver or their insurance company, please contact the Carrollton personal injury attorneys as soon as possible. Our experienced personal injury lawyers can advise you if the offer is fair.
If you have already accepted a check from the at-fault driver or their insurance company, don’t cash it before talking to your Carrollton, Texas personal injury attorneys at Hudson Law Firm. As long as you have not cashed the check, it can be returned along with a letter from your attorney stating that you do not wish to settle the claim without additional investigation and negotiation. The experienced personal injury attorneys at Hudson Law Firm are happy to evaluate your car accident case and help you determine the scope of your personal injury claim and your best course of action.