A major accident can throw your life into chaos. Your schedules will be full of doctor appointments, therapy sessions, discussions with a personal injury attorney, calls from an insurer, and more. Once you get a settlement offer from the insurance company, you may think about taking the cash and running. With cash in hand, you can pay for your medical and avoid dealing with a claims adjuster. However, a Seattle personal injury attorney will advise against accepting an early offer from an insurer. While an early settlement can help you get your life back to normal, you need to know some important information.
You May Still Get Compensation Even if You Reject the Initial Settlement Offer
When insurers make claim settlement offers, they usually imply that if you don’t accept them, you won’t get anything from them. However, this isn’t true. A settlement offer is just the start of a negotiation process. Your attorney can make counter offers with the insurer, ensuring you receive compensation that reflects the true value of your claim. Early offers from the insurer do not take into account the extent of your injuries and damages, so you should reject them outright.
As insurance companies want to avoid the cost and stress associated with litigation, they usually prefer to reach a settlement agreement with claimants. After back-and-forth negotiations with your attorney, they may pay you the compensation you deserve in the end.
A Settlement Agreement is Binding and Final
When you agree to settle your claim with the insurer, you release liability. Thus, the insurer won’t be responsible for payments beyond the settlement agreement. You can’t ask for additional compensation in the future nor sue the other party. This is what you can expect even if your injuries will get worse in the future or if you experience unexpected complications.
Your Injuries May be More Serious Than Expected
The extent of some accident-related injuries may not be determined right away because of different reasons. This can happen if the injuries end up requiring more extensive medical treatment than expected, the resulting wounds do not heal as initially thought, you experience secondary infections, or complications arise.
Before you accept a claim settlement, you should know the impacts of your injuries on your current and future jobs, overall health, activity and mobility levels, as well as quality of life. Also, they need to understand the ongoing care or medical treatment they may because of the accident. Often, these things are known once you reach maximum medical improvement.
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