You may accept a quick settlement offer to wrap things up quickly after an accident. While agreeing to an early offer sounds convenient, it could be an expensive mistake that could come back to haunt you.
Settling your claim before you have a full scope of your damages may lead to unexpected expenses, which you may have to cover out of pocket. Importantly, it may be hard to claim additional compensation after you have signed a release form.
What you need to do before accepting a claim
The most important thing to do is to understand the value of your claim relative to the damages you suffered. It goes beyond the medical bills or the cost of treatment. Some injuries have far-reaching effects on your life, family relationships and even your career. You may be entitled to compensation for pain and suffering, lower quality of life, or mental anguish.
Once you have an estimate of how much your claim is worth and your early settlement offer matches up to it, there is no harm in settling early. The most crucial bit is that you get fully compensated. It’s how most personal injury claims are settled anyway – out of court.
Still, you must be prepared to go all the way in case settlement negotiations fail. If the offer does not measure up to the damages you suffered or is not fair, you ought to explore other options for getting the compensation you deserve.
Preparing for a personal injury lawsuit
You may take your personal injury claim to court for compensation. When you sue another party for negligence, the court will review your claim and the damages you suffered before awarding you compensation.
When things get here, it is crucial to understand how the entire process works and what you need for a successful claim.