What should I do if the insurance company offers me a settlement?

It can be tempting to accept the first offer you receive from an insurance provider after a car accident. But it is virtually never a good idea to accept a first offer without consulting an experienced car accident attorney. There are a number of reasons why this is the case.

• Underestimating Damages: After any car accident, plaintiffs simply aren’t in a good position to fully understand all of the potential damages. The initial offer from any insurance provider may not take into account all of your medical expenses, lost wages, and the future costs to treat an injury. In many cases, an injury can become substantially worse over time, leading to many additional medical bills.
• Waiving Future Claims: By accepting any initial settlement offer, you typically waive your right to pursue future claims. This is still the case even if new issues or complications arise that you were not previously aware of.
• Pain and Suffering: Any settlement offer that you receive may not take into consideration all of the non-economic damages that you suffered. This could include past and future physical pain as well as the emotional distress that you’ve gone through as a result of the ordeal. Accidents can affect people in profound ways and impact their quality of life dramatically.
• Lost Earning Capacity: Initial settlement offers virtually never take into consideration the affected party’s diminished earning potential. In many cases, an accident can lead to disabilities or permanent injuries that will reduce a person’s ability to have the same level of income.

The best thing to do after any car accident or settlement offer from an insurance provider is to speak with an experienced personal injury attorney. An attorney can help you receive much more compensation than you could through any initial settlement offer from an insurance provider.