It is never easy when you get into a car accident to deal with your insurance company or that of the other parties involved in the accident. There are always challenges and that is why it is so important to have a car accident attorney to guide you through the process; especially, if this is the first time that you have been in an auto accident.
Imagine if you were injured in an accident, filed a claim with your insurance company, and your insurance company is offering you a settlement. That’s good news, right? Not so hastily. If your insurance company is offering you a settlement and you don’t have a lawyer, the offer is almost certainly less than what you deserve. Below are four factors to consider before agreeing to a deal with your auto insurance company.
Is your insurance company offering to reimburse you for your medical expenses and time missed from work? If so, this could be only a small portion of the economic cost of your injuries. If you are currently undergoing physical therapy or rehabilitation, need ongoing treatment, or may need follow-up procedures in the future, you may also be entitled to compensation for these future medical expenses. Similarly, if you will be unable to work in the future, you may also be entitled to compensation for the “loss of your ability to produce future income.
Does the settlement offer include any compensation for damages, emotional trauma, or other non-economic losses? The answer is likely to be “no,” and this means then that it does not represent full and fair compensation for the losses you suffered as a result of your injuries. In many cases, the non-economic losses of car accident victims will actually be much greater than their economic losses, and you will need to work with an attorney to calculate the total amount to which you are entitled.
The Right Compensation
When you agree to a settlement with the insurance company, the fine print explains that you give up your right to seek additional compensation. That is, once you reach an agreement, your claim ends. Until you are completely sure that you know how much you have lost (and will lose in the future), accepting a deal is very risky. To protect yourself and ensure that you receive maximum compensation for the losses you suffered as a result of your injuries, you should discuss your claim with an experienced car accident attorney.
If your insurance company is offering you a settlement, this means that it is most likely offering to pay you under your personal injury protection policy (PIP). If you have been seriously injured, your losses could easily exceed your PIP coverage limit, and you may qualify for extra compensation based on fault, and with the other driver’s bodily injury liability policy or with your personal insurance coverage; whether uninsured or underinsured.
If you do not know how to proceed after being in a collision with another motorist, it is best to seek the help of a car accident attorney so you can get the right steps to follow in order to be duly compensated.