You might be surprised to know that insurance companies often offer way less than what you’re actually owed after a car accident. Sometimes, they’ll only offer half of what your claim is really worth.
This isn’t just an insult to you; it is outright unfair. Remember all the times you squeezed money out of your pocket to pay for your insurance premium, even when you had other pressing bills? And now that you genuinely need them to return the favor, they try to shortchange you under the guise of offering immediate help.
Just like any car accident injury attorney would tell you, if you accept that first offer either from the insurance company or the at-fault party, you’re very likely to be left scrambling to pay medical bills, fix your car, and tackle all the other financial messes that come with an accident. You deserve way better than that!
Here are more reasons why accepting the first car accident settlement offer might be a mistake.
It Probably Doesn’t Cover Future Medical and Rehabilitation Bills
When you get into a car accident, you might think the injuries you have right now are all there is to it. But often, that’s not the case.
Accepting the first settlement means you’re only looking at the bills from today, not what’s coming down the road.
For example, you could have sustained injuries that need physical therapy or even surgery later. Medical treatment can get expensive. Rehab sessions typically have their starting prices anywhere from $50 to $150 each. If you don’t factor in those future costs, you could end up with a big financial headache later on.
Pain and Suffering Was Probably Not Taken Into Account
Insurance companies tend to focus on hard numbers like hospital bills and repair costs. But what about the pain and suffering you’re going through? These are real experiences that deserve to be compensated, but the first offer usually overlooks them. They have to understand that your emotional well-being is just as important as your medical bills.
Your Injuries and Damages Have Not Fully Manifested Yet
Sometimes, the full extent of your injuries doesn’t show up right away. You might feel okay in the first few days after the accident, but that doesn’t mean everything is fine.
By accepting that initial settlement, you risk getting shortchanged. You might end up discovering a serious injury later that could have been covered if you had waited and assessed the situation fully.
You Haven’t Sought Legal Counsel Yet
Before you accept any offer, make sure that you talk to a legal professional. Lawyers who specialize in personal injury cases know the ins and outs of what you’re entitled to. They can help you figure out what your injuries are worth and can often negotiate a better deal for you.
If you haven’t sought legal counsel yet, you might be missing out on a lot. Legal professionals can also spot details in your case that you might not see, ensuring you get the compensation you truly deserve.
You Would Be Waiving Off Your Rights to Sue
Accepting that first settlement means you’re basically saying, “I’m good with this amount.” That’s a big deal because it often means you can’t go back later if you realize you need more. You would be waiving your right to sue the insurance company or the at-fault driver for more money down the line.
What would you do if your condition worsens or if new medical bills pop up after you’ve accepted the offer? You would be forced to settle all of these out of pocket. This situation would have been avoided if you had not settled for that first offer.
