An insurer may propose a quick settlement offer soon after a crash. It may seem like a good deal since you will not have to do much to receive compensation for your injuries. However, you ought to be careful before hurriedly agreeing to such a deal.
You may regret accepting an early settlement offer if your condition worsens and the amount you settled for is insufficient to cover your damages. Here is more on why you should not rush to settle your car accident claim.
You may not know the full extent of your injuries
You may have been hospitalized due to your injuries, and the offer you agreed to only covers your medical bills. But what about the secondary effects of your injuries, such as lost wages or a decreased earning capacity?
You deserve compensation for these and other damages, including the pain and suffering or lower quality of life caused by your injuries. Therefore, it is crucial to understand the full extent of your damages and the value of your car accident claim before accepting to settle.
You can’t revisit your claim
If you voluntarily agree to a settlement offer, it essentially closes your claim. You cannot ask for further compensation or reopen your case afterward. For instance, if a broken leg needs to be amputated, yet you settled and closed your claim before the new developments, you will have to bear the resulting financial burden alone.
You have plenty of time to make the decision
In Florida, you have four years to file your car accident claim in court. While you should not wait so long to take appropriate action and get the compensation you deserve, you have ample time to understand the extent of your injuries before agreeing to a settlement.
Ultimately, what matters is that you get sufficient compensation that covers all your damages. It will go a long way in securing your financial interests, leaving you to focus on recovery and getting back on your feet.