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What If The Insurance Company Offers Me A Settlement?
- March 7, 2017
After a car accident, the natural reaction is to get matters resolved as quickly as possible in order to get your life back to normal once again. The reality, however, is that there are quite a few moving pieces that must be considered before the process is completely resolved. One of these important pieces involves dealing with the insurance company. You can do this on. your own, and it is quite possible that they will offer you a settlement early on in the process. You will want to think twice before accepting that settlement, however, as there is a great deal to consider. Let us examine some of those reasons in summary fashion below.
Look Out For Own Best Interest
If you have been involved in a car accident, it is important that you consider what is in your own best interest before accepting any type of settlement from the insurance company. This is due to the fact that you can bet the insurance company is looking out for own interests, and not yours. The insurance company is a business. As such, they are trying to make a profit, and this does not leave them a lot of motive to give you adequate compensation for the pain and suffering that you have endured as a result of the accident.
if the insurance company offers you a quick settlement, it is quite likely that they realize how good of a case you really have against them. Because they know that you have quite a few expenses to take care of in the aftermath of an accident, they are banking on the notion that you will be tempted to accepted their settlement offer in order to get your hands on some cash quickly. Think long and hard and before you accept such a settlement offer in order that you ensure you are getting the best possible compensation that you are entitled to.
A Lawyer Can Often Get Your More
This is not sticking it to the other party. On the contrary, you are afforded certain legal protections in the event of an accident and you need to work to make sure that those are put to good use. Lawyers are able to negotiate directly with the involved insurance companies in order to get you the best possible deal. Insurance companies, of course, realize this. That is why they will often offer you a quick settlement in order to keep you from retaining the services of a lawyer. Since your attorney will usually accept your case on a contingency fee basis, you have nothing to lose by retaining legal counsel in order to get the compensation that you are legally entitled to.
It Takes Time
It takes time after an automobile accident to realize the full financial scope of what has just happened. If you were to accept a quick settlement from the insurance company, you will be forgoing your future rights to collect on any damages. Remember that you have medical expenses you will need to take care of, along with the cost of getting to those appointments. This does not even account for possible time off work, lost wages, damages to your car, and more depending on the situation. Because of this, you will want to hold off on a settlement until a lawyer can peel through the financial layers that apply to you and arrive at a fair settlement offer that you can be happy with.
When you or a loved one has been involved in a car accident anywhere in Los Angeles, contact our office for a free consultation. We will do our very best to get you the compensation that you are legally entitled to.