If you’ve been injured in a car accident, it can leave you hospitalized and unable to work for a considerable period. As the medical bills begin to pile up, you may feel overwhelmed and find it challenging to move on from such a traumatic event. While an early settlement offer from the culpable party’s insurer may appear to answer all your prayers, it’s crucial to avoid settling too quickly. Settling your claim prematurely can prevent you from receiving the full and fair compensation that you’re entitled to for the damages you’ve endured. If you’ve been injured in a car accident due to another driver’s negligence, it’s in your best interest to enlist the help of our talented Santa Clara County Car Accident Attorneys, who can use their negotiation skills to advocate for the maximum compensation you need to get your life back on track.
Why Do Insurance Companies Want You To Accept an Early Settlement Offer?
Following a car accident, insurance adjusters are quick to make a settlement offer to avoid paying what your injuries are worth. Like any other business, insurance companies are driven by the objective of generating profits. Therefore, insurance adjusters will close claims quickly by offering lowball settlements to minimize their employer’s payouts. Understandably, it can be hard to say no to money, especially when you really need it. However, early offers are usually insufficient to cover the total costs of your economic and non-economic damages. As a result, you will likely wind up footing the bill for whatever the settlement fails to cover. Therefore, you should avoid accepting a settlement offer after a car accident until you’ve consulted an experienced attorney.
What Issues Can Arise if I Settle My Car Accident Claim Too Soon?
An offer to settle your claim may seem convenient as you won’t have to wait to be compensated for your losses. However, you stand to lose out ultimately, as you agree to less than you truly deserve. Settling too early on in a personal injury claim is risky because you likely don’t know what your injuries are worth. Issues that seem minor now could become a severe concern later on and pose a risk to your overall well-being. They may require extensive medical treatment. However, if you accept an early settlement before understanding the severity of your injuries, you will relinquish the negligent party from further liability.
Before accepting any settlement offer, it’s advisable to consult an experienced Santa Clara County car accident attorney who can help you understand what you may be entitled to. At the Law Offices of Brian J. O’Grady, we are prepared to fight on your behalf while you focus on your recovery.
