The insurance company is offering me a quick settlement of my car accident claim. Should I take it?

A Couple Looking at a Settlement Offer for a Car Accident CaseYou may be surprised at how quickly the negligent driver’s insurance company contacts you after your car accident—maybe even before you leave the hospital. If the insurance adjuster seems concerned about your health and offers you a quick settlement, you may be tempted to accept it. However, this is rarely in your best interests.

Three Reasons Not to Accept a Quick Settlement Offer From the Insurance Company

While some insurance companies will try to treat accident victims fairly, many insurance adjusters offer quick settlements to save money for the insurance company. Here are the reasons why you should not accept it:

#1: You Don’t Know the Seriousness of Your Injuries

You are entitled to be compensated for your past and future medical expenses, lost wages, and pain and suffering in your settlement. Right after your car accident, it is impossible to know how serious your injuries are, the treatments you will need, and your long-term prognosis. It is best to wait until you have recovered fully, or as much as possible, to settle your claim so that all your future damages are included in your settlement.

#2: The Settlement Offer May Be Too Low

When an insurance company offers you a fast settlement, they are most likely offering you less than you deserve and are hoping that you will just accept it without first consulting with an experienced car accident attorney. However, it is never a good idea to agree to a settlement with the insurance company without first consulting with a lawyer to ensure that you receive all that you are entitled to.

#3: Settlements Are Final

Once you agree to settle your claim with the insurance company, your settlement is final. If you later discover that your injuries are more serious than you thought or that you suffered permanent disabilities that prevent you from returning to work, you cannot reopen your settlement and ask for more money.

If you or a loved one were injured in a car accident, resist the temptation to try to settle your claim on your own or to accept the insurance company’s first offer without consulting with a lawyer. Our skilled car accident legal team is here to protect your interests and will fight to ensure that you receive the maximum amount of compensation you deserve for your injuries. Call our Norfolk office to schedule your free consultation today.