Being involved in a car accident is never fun, and the impact of this kind of event can go on for several months, years, or a lifetime. There are car repairs or replacements that need to happen, doctor’s appointments, therapy sessions, missing work, school obligations, and more. This doesn’t even begin to touch on the legal aspects of working with insurance companies and a possible car accident settlement.
The aftermath of a car accident can be so overwhelming that many people tend to go into complete overload, not knowing what to do next. After all, how would you know if something like a car accident settlement you receive from an insurance company is fair? This is where an experienced accident-and-injury legal team will do wonders for your sanity and the compensation you receive.
The Insurance Settlement Process
Dealing with the other party’s insurance company can be a complicated process, and if you make even a tiny mistake as you communicate with them, it can cost you big.
When an insurance company offers you a settlement, you can either accept or reject it. If you take the settlement offer, you will receive your money fast. Still, you also give up the opportunity to ask for additional money down the road if you need surgery, additional therapy, etc. Therefore, you must be sure that the settlement offer you accept will cover all the costs related to your accident, including vehicle repairs, medical expenses, lost wages, pain, suffering, etc.
A lawyer that has experience successfully working through car accident claims with their clients will save you time and money. They can guide you through the entire settlement process and communicate with the insurance companies on your behalf, ensuring that you don’t accidentally say something inappropriate to the opposing party.
Negotiating a Fair Settlement
You will most likely receive a settlement offer quickly after your accident from the opposing insurance company. They know that you are starting to stress about medical bills and how much it’s going to cost to replace or fix your car. Therefore, they will try to present you with an offer sooner than later in an effort to catch you when you are most vulnerable and need money fast. They will lowball you an offer, but as a general rule, you should never accept the first car accident settlement offer from an insurance company.
Your legal team will be able to calculate what a fair settlement offer should look like in your case and then negotiate it with the other party’s lawyers and the insurance company. Your legal representatives know and understand the process and what it takes to be successful on your behalf.
You may think that you can add up expenses and negotiate a higher settlement offer on your own, saving you money on legal fees. In reality, you haven’t handled these negotiations hundreds of times like the legal team of Gainsburgh, Benjamin, David, Meunier & Warshauer, L.L.C. You don’t know how to present the facts with details that medical professionals and more support. Our team knows how to get the job done right, bringing you the compensation you need to move forward in life, saving you time, stress, and hours of effort and frustration.
Important Things to Remember with Car Accident Settlements
You can reject a settlement offer and still receive compensation down the road. Insurance companies want you to think that you need to accept their first offer or risk getting nothing. This is not true. A few counteroffers typically go back and forth throughout the process. The urgency is a negotiation tactic. Do not fall for it.
When you agree to accept a settlement, you cannot ask for more money in the future, nor can you decide to take the case to court. If you settle too soon and find out your injuries are more extensive (and expensive) than you thought, you will have to pay for it out of your own pocket. Don’t be too quick to accept that fast payout.
Injuries incurred from an accident may be more severe than you first believed. It can take months and even years for the full extent of your injuries to manifest themselves. You may need surgery to fix a scar, further physical therapy treatment, or more.
The actual cost of your accident is much more than you think. You’ll have an immediate out-of-pocket expense figure if you add up the car repairs, medical bills, and wages you’ve lost from missed work. The actual cost of your accident is valued at much, much more. Your legal team will be able to provide evidence of other losses that you have, presently and in the future, for which you will need to be compensated.
Be sure you understand your statute of limitations. Every state has different timelines for settling a claim. Make sure you know what those deadlines are so that you know how much time you have left to reach a fair settlement.
Insurance companies are on the side of their policyholders. While you may feel like you can trust the insurance companies during your conversations, they are trained to make you feel that way. Truthfully, they are not working in your best interest.
Insurances are known for trying to tie you down by encouraging you to give a recorded statement, sign forms, give them access to your medical records, and ultimately accept a low settlement offer.
Simplifying the Process
Gainsburgh, Benjamin, David, Meunier & Warshauer, L.L.C. aims to simplify the legal process and obtain fair compensation for clients, allowing you to heal and rebuild physically and emotionally. Save hours of time and stress by hiring a personal injury lawyer for your case.
Car accident settlements are complex. The legal team at Gainsburgh, Benjamin, David, Meunier & Warshauer, L.L.C. will strategize and navigate your legal case for you to improve the whole outcome of your case. Give our team a call at (504) 522-2304 to learn more about our legal services today.
