If you talk to people who have been involved in auto accidents or other personal injury situations, many of them will confess that they should have waited before signing the settlement offer from the insurance company. For the most part, insurance companies are interested in preserving their bottom lines as opposed to helping people to get well. That is why it is important to have an attorney take care of your case when it comes to the insurance company.
How The Process Works
One of the first things people are taught to do in the aftermath of an accident is to make a claim with their insurance company. With the information the claimant provides, the insurance company does its best to offer a financial settlement designed to help the claimant to recover from their injuries. In most cases, without asking advice from anyone, the claimant will sign the settlement and take their check.
The Problems In The Process
A claimant assumes that the insurance company has done research into their case when putting together a settlement number, but that is not the case. The insurance company is going to offer the smallest possible settlement to the claimant, and the claim is considered closed once the claimant accepts that settlement. Not even a court of law can force the insurance company to re-open the case once a settlement is accepted.
Neither you nor the insurance company has looked into the extent of your injuries, and neither of you has done any research on how much future medical expenses could cost. Part of the settlement is reimbursing you for medical expenses and lost wages, which are extremely easy calculations to make. But when it comes to any future potential medical issues, you could be on your own if you signed a settlement that does not offer the full coverage you need.
The Right Approach
After you get looked at be emergency medical personnel following your accident, your next step is to hire an experienced attorney. You will want an attorney who has had experience in handing your type of accident and, if possible, has experience in dealing with your specific insurance company. Your attorney will file your injury claim and then negotiate the settlement based on your real needs. If it becomes necessary, your attorney is also prepared to take the insurance company to court.
It is not in your best interests to assume that your insurance company wants what is best for you. When it comes to these types of negotiations, you should always leave them to an experienced attorney who knows who to quantify your injuries and present your case to the insurance company. If you settle to early on your injury claim, you could wind up regretting it for the rest of your life.