If An Insurance Company Offers Me A Check Right Away, Should I Take It?

If you have been in an automobile accident, you understand both the physical and financial toll that it can take on you. In fact, you just want your life back again. As a result, you might be tempted to quickly settle any disputes, receive the financial settlement offered to you, and then move on with your life in hopes of forgetting the accident ever happened. While this is certainly understandable, it is not always the most prudent way to go about your affairs. There is much to consider from a legal perspective, so it is generally not a wise idea to accept a check offered by the insurance company right away. Keep reading to learn some of the reasons why this is so.

You Need Someone To Work For You

While you might think that the insurance has your best interest in mind, that is typically not the case. They work for their own shareholders, so they will work hard to make a profit, and this means that they will not typically offer you the money you’re entitled right from the outset. They have a business to run and it is best to keep that in mind if they are offering you a check soon after the accident. The company will likely talk very nice to you and try to get you to see the situation from their perspective, but it is best to be strong and let an attorney who works for you to deal with them directly.

The Insurance Company Will Offer Your Less

There are many financial components that go into an accident, but the insurance company is only interested in one bottom line number. You, on the other hand, will have a myriad of financial considerations to take into account. There will time off work, medical expenses, the cost of getting to and from the doctor, and this is all before even considering what it will take to fix your car. Because of this, you might be tempted to accept a check right away in order to ease the mounting financial burden. The insurance company will typically offer you much less that you actually need, however, so keep that in mind. You will need some time to work with an attorney to determine what you are actually entitled to before accepting any settlement offer from the insurance company.

There Is No Obligation To Say Yes

Insurance companies can be quite persuasive. They may present a quick offer to you and word it in such a way to make you believe that this is all you will ever get. Do not believe it. You have options. In reality, you are the one in control of the situation. While it is true that failure to accept a quick check that is offered will almost certainly result in a delay in getting you the financial compensation you deserve, you will be better off in the long run. There are rare circumstances where an immediate settlement may be in your best interest, but it is generally much better to stay in control and allow an attorney to deal with this on your behalf.

If you are offered a check by an insurance company shortly following a car accident, your best course of action is to consult with an attorney. You want to make sure that you receive proper financial compensation, and this is often takes time. Do not be afraid to let the process run its course. There are medical expenses and much more to consider.

If you or a loved one has been involved in a car accident anywhere in the Los Angeles area, contact our office for a free consultation.