The initial offer of compensation might look amazing if one has recently insured a huge amount of loss encompassing physical, emotional, and financial loss as a result of an accident due to the negligence of a third party. But a close look into such offers will make one realize the amount of compensation is much lesser than what the seriousness of the injury is worth. The best way to ensure the maximum compensation claim is to contact a San Diego personal injury lawyer who would delve deep into the case and use the findings to negotiate well with the insurance provider.
Moreover, accepting the initial offer and agreeing to the settlement instantly will close the provision for any future lawsuit filing or modify the compensation amount. Settling for a lowball offer will only increase the profits of the insurance provider and leave you at a loss in the long run. The three reasons mentioned below will elaborate upon why should one should not accept fast settlements by insurance companies:
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One Might Receive The Maximum Compensation
In an unprecedented situation, one can’t sit and calculate all the treatment costs. Most often, in case of long-term injuries that are expected to sustain for a long period, early settlement signing without consulting an attorney might also result in huge financial debts.
A personal injury attorney having strong negotiation skills and speculative nature will take all the hassle of communicating directly with the insurance company and secure the best deal for the respective client after considering all the aspects of calculating the cost of the damages.
Injuries Might Worsen
Taking one’s injuries for granted will be the worst mistake during a compensation claim. Determination of all the various injuries might require months, and there might also appear several complications in the process of recovery. Signing an initial offer will make you pay unexpected and costly medical bills.
The Offer Doesn’t Include Compensation For Pain And Suffering
In most cases, the compensation amount offered by the insurance company doesn’t consider the emotional and mental trauma one suffered from an accident. It is advised not to agree on any settlement unless it considers the back-breaking pain, emotional turmoil, and anxiety one suffers due to the injury.
Loss of Legal Recourse
When it comes to quick settlements, there can often be conditions added by an insurance adjuster which may seem reasonable on their face but could limit your potential rights in the future. It’s also important to remember that with quick settlements, you may have to commit to terms and conditions without fully understanding potential implications down the line. Once a settlement is finalized and accepted, it is difficult or impossible to go back and challenge any specific provision unless fraud or misrepresentation can be proven in court.
Though there are cases where taking a quick settlement may sound lucrative in the short term; however, entering into such agreements could lead to serious long-term consequences including being liable for long term medical expenses after accepting an insurance company’s lowball offer. Before entering into any agreement with an insurance company it’s always important for each individual claimant to have sufficient information and fully understand their rights before making any decisions about settling with an insurance provider.
After meeting an accident and opting for medical assistance, it is important to contact a personal injury attorney who will guide you throughout the process of the claim of compensation, negotiation, and settlement.