In the aftermath of an auto injury, you may be facing a long recovery, forced time off work and increasing worry about whether you will be able to stay afloat financially.
Your first instinct may be to try to get an insurance payout as quickly as possible. However, accepting a fast settlement offer could mean losing out on the full compensation you need.
1. Fast but low offers are a common tactic
If an insurance agent reaches out to you with a fast settlement, it may be a good sign that the company knows that the law entitles you to much more. Making a quick but low offer is a common tactic used to minimize payouts on claims and increase the insurer’s profits.
2. Your injury may be worse than you realize
No matter how severe your injuries, it may take weeks or even months to know the full impact of the accident. You may require ongoing medical care, including later surgeries and/or physical therapy. You may also find yourself with a permanent disability that forces to you change jobs, or even prevents you from full employment.
3. Accepting an offer now limits your future options
Once you accept an insurance company’s offer, it is likely that you will not be able to seek extra compensation later. This is true even if your injuries end up costing you much more than expected due to no fault of your own.
Like many Americans, you may be hesitant to reach out for help after a motor vehicle collision. However, auto injuries often involve complex insurance negotiations. Seeking a personal injury consultation may help you to better understand how much the law may entitle you to and whether the insurer’s offer truly meets your needs.