Even though most people acknowledge that getting involved in a car accident is a possibility, many people are caught by surprise when it happens. And aside from most car accidents being unexpected, they can also be quite stressful experiences. In the aftermath of an accident, survivors can feel like they’re juggling many balls simultaneously.
Between addressing vehicle repairs, getting medical feedback about injuries and coming to terms with lost wages, crash-related financial burdens can quickly add up. Amidst such financial turbulence, an insurance company may make a settlement offer. While it might seem tempting to accept the money and move on, holding on for a minute can be beneficial. This seemingly simple decision requires careful consideration.
Evaluate the settlement offer
It can help if accident survivors think of an insurance company’s initial offer as a proposal rather than the only settlement on the table. Furthermore, it’s crucial to remember that the initial offer aims to resolve the accident claim out of court. Therefore, there is room for negotiation to arrive at an amount that better reflects the survivor’s damages.
During negotiations, accident survivors can benefit from enlisting reliable legal support. Insurance companies are businesses and will always try to minimize their payouts. By relying on a trusted legal team, a survivor can help to ensure they don’t accept a settlement lower than they may deserve.
Dissecting the initial offer
Since the initial offer is the starting point for negotiations, it can help to dissect the offer itself. This can relieve some of the pressure of feeling that it is a final decision that must be accepted immediately. A legal team can help identify the specific damages that the insurance company has detailed to be compensated.
From here, they can argue how much more the survivor may need for lost wages, medical expenses and vehicle repairs. For example, it’s crucial to factor in potential future medical expenses that may arise due to rehabilitation. Furthermore, it’s crucial to take into account how the accident may have compromised the survivor’s earning potential.
For an accident survivor who is in dire need of some financial relief, the option of accepting a crash settlement offer might seem straightforward. However, there’s more to this situation than meets the eye. With appropriate legal guidance, accident survivors can better understand their full range of damages and potentially negotiate a more fitting settlement, if necessary.
