Should I Accept A Personal Injury Offer? 5 Things to Consider
If you have been injured in an accident, chances are you’ll try to seek compensation. If you are offered compensation you should always make sure that you’re offered the right amount. This is because a personal injury can potentially have a devastating impact. For example, you might have medical bills, suffer from loss of earnings, and be emotionally affected by the accident.
While you might be tempted to accept any offer an insurance company makes, there are a few considerations you need to bear in mind, these are:
1. It’s OK to reject an offer
Many insurance companies will have a “Now or never” agreement and offer it to you. Whilst they might tell you that if the proposal is rejected that will be the end of your claim, this is not true. The very first offer that they make is just the start of the claims process. This means you can make a counteroffer should you wish to.
Work with a lawyer to ensure you know exactly who much you’re entitled to. This will ensure you’re less likely to accept a claim that isn’t good enough.
2. Tell the Adjuster to Justify Any Low Offer
Let’s imagine you’re hoping to claim $250,000 but you’re offered just $75,000. You should tell the adjuster that they need to justify their low offer. Do not lower the number that you expect to receive, this is what the adjuster wants. Instead, ask them to send you a letter detailing why the offer is so low. This should encourage them to offer a more reasonable settlement figure in the future.
3. Your Injuries Could be More Serious Than They Appear
One of the reasons why you should consider an offer is because your injuries could be more serious. It could be 48 hours before the full extent of your injuries become apparent. You could also find that they require a lot more treatment than you realized. Secondly, you might not heal as quickly as you’d expected. Waiting a few more days or weeks before you accept an offer can make a world of difference.
4. The Settlement Needs to Cover More Than The Basics
Many people assume that the settlement will cover medical bills and your experience of having an accident. However, it should also cover:
- Alternative transportations
- Loss of earnings
- Loss of enjoyment
- Medical expenses and expected future losses
- Pain and suffering as a result of the accident
- Psychological or emotional injuries
- Repairs to your vehicle
Compensation should cover all of the above which means it needs to be adequate.
5. The Settlement Agreement is Final
As soon as you accept a settlement you can no longer hold the insurance company or the defendant liable for any further payments. You cannot take the case back to court or ask for any more money. This is why it’s essential you wait until you know the amount you’re being offered is fair.
Here at The Law Office of Joel J. Turney, LLC we can help you if you have been involved in an accident that was not your fault. Contact us today if you have any questions or you’d like us to represent you.