After an accident, getting a quick settlement offer from the insurance company might sound like good news. You may have medical bills piling up, missed time from work, car repairs, and other expenses you weren’t expecting.
Getting a check quickly can be tempting. But before you accept, it’s important to understand what that settlement could mean for your claim.
You May Not Know the Full Extent of Your Injuries Yet
Not every injury is obvious immediately after an accident. Some injuries can become more noticeable in the days or weeks that follow, and your doctor may recommend additional treatment, testing, physical therapy, or other care.
If you settle before you understand your medical situation, the amount you accept may not account for treatment you need later.
The First Offer May Not Reflect Your Full Damages
Insurance companies may try to resolve claims quickly. An early settlement offer might not account for all of your accident-related losses.
Depending on the circumstances, damages in a personal injury claim can include medical expenses, lost wages, future treatment, pain and suffering, and other losses.
That’s why it can be important to understand the potential value of your claim before agreeing to a settlement.
Once You Settle, You Usually Can’t Ask for More
This is one of the biggest reasons to be careful about accepting a quick settlement.
When you accept a settlement, you will generally be required to sign a release giving up your right to pursue additional compensation for the claim. If you later discover that your injuries are more serious than you originally thought, you typically can’t simply reopen the claim and ask the insurance company for more money.
Future Expenses Can Be Easy to Overlook
Your current medical bills aren’t necessarily the only expenses that matter.
Will you need additional medical care? Will you miss more time from work? Has your injury affected your ability to do your job or participate in your normal activities?
These questions may be difficult to answer immediately after an accident. Waiting until you have a clearer understanding of your recovery can help you better evaluate a settlement offer.
Don’t Let the Insurance Company Rush You
A quick settlement isn’t automatically a bad settlement. Every personal injury claim is different. The important thing is making sure you understand your injuries, damages, and legal options before agreeing to anything.
If you’ve been injured in an accident in Louisiana and an insurance company has already offered you a settlement, consider speaking with an attorney before signing a release.
At Cueria Law Injury Lawyers, we can review your situation, answer your questions, and help you understand your options.
Call Cueria Law Injury Lawyers at (504) 525-5211 for a free consultation. We’re available 24/7, and there are no attorney fees unless we recover compensation for you.
This post is for general informational purposes and is not legal advice. Every case is different.
