Helping real people with real injuries get the compensation they need.

Should I accept the insurance company’s settlement for my auto accident injuries?

On Behalf of | Oct 1, 2022 | Car Crashes

You were injured in a car accident after getting t-boned by a drunk driver. You were rushed to the hospital via ambulance and immediately taken into emergency surgery. Internal bleeding, broken bones and a host of other injuries were found.

Fortunately, you are now ok and on your road to recovery. However, you are still unable to return to work. Your physician has indicated you will need to complete extensive physical therapy in the upcoming future and likely require additional surgical procedures.

A few days after returning home, the at-fault driver’s insurance company has contacted you and offered you a settlement. What do you do?

This situation happens all too often for those seriously injured in car accidents. So, the question remains: Should you take the settlement?

No. Here are three reasons why.

Reason 1: Insurance company profits

Insurance companies are in business to make money, not pay out claims. In many cases, they will offer a claimant a very low settlement amount in the hopes that it’s enough to entice them to accept. Unfortunately, most offers are far from what an injured parties needs to recover.

Reason 2: Limited knowledge of the law

The law on what you can recover for auto accident injuries is complex. Insurance adjusters know the average person isn’t likely to know exactly what types of compensation they are entitled to recover.

Many injured parties may be aware that they can get reimbursed for medical expenses. But what about lost wages from taking time off work? How about future compensation for surgical procedures that are needed down the line?

Reason 3: Prohibition against future claims

Once you accept a settlement offer from an insurance company – even if it seems lucrative – you will likely be required to sign an agreement that forgoes your option to pursue future compensation for anything related to the accident or your injuries. In the event you discover 5 years down the line that you need a very invasive surgical procedure, you will not be able to recover.

The best course of action before accepting any offer is to get a legal advocate who knows the law and knows what you are entitled to. He or she can ensure to pursue the compensation you need not just today but in the future.