If you have recently been injured in an accident, an insurance company may contact you to offer a settlement. The prospect of receiving one lump sum of money may be appealing.
However, it is crucial to approach this situation with caution, given that the goal of insurance companies is to save as much money as possible, prevent claims from becoming legal cases, and avoid trials.
Medical costs
One reason it is essential to be cautious about signing anything with an insurance company is that, no matter how generous the offer may seem, you may have suffered injuries you do not yet know about.
This can leave you vulnerable because settlement agreements often require you to sign a release of liability, which means you cannot sue them if you have injuries later on.
Initial offer
Another thing to keep in mind is that insurance companies often give you less than what you deserve initially. To understand this point, knowing that many individuals are eager to resolve their problems after an accident and will accept an offer without negotiating is critical.
By doing this, however, you give up your right to fair compensation. Essentially, you’re possibly leaving money on the table.
Money you could have negotiated for and that you deserve. An experienced personal injury attorney knows how to deal best with insurance companies.
While the idea of having an open-and-shut case is attractive and receiving a lump sum of money seems helpful, especially if you are struggling financially, it is always better to speak with your attorney first.
Refrain from signing anything without your attorney stating it is in your best interest. After all, you want someone who is in your corner who will advocate for you.