You’ve been dealing with an injury claim for weeks or months, and finally, the insurance company makes you an offer. It can be tempting to take the money, sign the paperwork, and put the whole thing behind you.
But what happens if you realize later that the settlement wasn’t enough? Can you go back and ask for more?
In most cases, the answer is no.
Myth: I Can Ask for More Money Later
One common misconception about personal injury claims is that accepting a settlement doesn’t necessarily close the door.
Maybe your medical treatment ends up costing more than expected. Maybe your injury takes longer to heal. Or maybe you realize you underestimated how much time you would miss from work.
Unfortunately, accepting a settlement usually means your claim is finished.
Fact: Most Personal Injury Settlements Are Final
When you settle a personal injury claim, you’ll typically be required to sign a release of liability.
This document generally says that, in exchange for the settlement payment, you agree not to pursue additional compensation from the responsible party or insurance company for that claim.
Once the release is signed and the settlement is finalized, it can be extremely difficult, or impossible, to reopen the claim simply because you later realize you need more money.
That’s why you shouldn’t look at a settlement offer based only on what you need right now.
Think About the Future Before You Settle
Imagine you’re injured in a car accident in New Orleans. The insurance company offers you a settlement while you’re still receiving treatment.
The offer might cover your current medical bills and put some money in your pocket. But what if your doctor later recommends additional treatment? What if you need physical therapy for several more months? What if your injury keeps you from working longer than expected?
Those are questions worth considering before you accept an offer.
Depending on the circumstances, a personal injury claim may involve compensation for things like medical expenses, future treatment, lost wages, reduced earning ability, pain and suffering, and other accident-related losses.
Don’t Let the Insurance Company Rush You
Insurance companies may want to resolve claims quickly. But a fast settlement isn’t always the right settlement.
Before signing a release, make sure you understand what you’re agreeing to and whether the settlement takes your current and potential future losses into account.
Once you sign, you may not get another chance.
Have a Settlement Offer? Cueria Law Can Help.
If you were injured in an accident in Louisiana and an insurance company has offered you a settlement, you don’t have to make the decision alone.
Cueria Law Injury Lawyers can review your situation, explain your options, and help you understand what accepting the settlement could mean for your claim.
Contact us today for a free consultation. We’re available 24/7, and there’s no fee unless we win.
