When a person is injured in an accident, they usually have a lot to deal with after the accident. They are trying to recover from physical injuries, trying to get back to work, and dealing with financial issues. The emotional stress after a personal injury accident can be overwhelming. Therefore, many people choose to settle their accident claims rather than fight the insurance company for a fair settlement. Below are several reasons why a person may agree to settle an accident claim instead of pursuing a larger settlement.
Better Medical Care
It can be difficult to get the medical care you need after an accident if you don’t have insurance to pay for treatment. The insurance company for the other party will not pay any medical expenses until the claim is settled. Therefore, some accident victims settle claims so they can see the doctor they want and begin the recommended treatments sooner.
Reduced Financial Burden
A person who has been out of work for some time because of an accident probably has bills piling up because of a lack of income. A settlement can provide a lump sum payment so the person can pay bills and living expenses until he or she can return to work. This reduces emotional and mental stress so they can focus on recovery.
Peace of Mind
Dealing with an injury is stressful enough on its own. In an accident claim, you also have to deal with insurance adjusters and others involved in the case, which can add to your stress level. It may take months to get answers about the case and move forward with treatment. Some accident victims assume that once the case is settled, they can get into a normal routine while they work to recover.
Fear of the Future
Some accident victims may be unsure of getting a check or being able to go to a doctor for treatment until their claim is settled. They may be afraid of getting turned down for a surgical procedure or other specialized treatment. This fear of the unknown can cause them to agree to a settlement so they can know what to expect for the future.
Dangers of Settling Claims Too Quickly
The insurance adjuster for the other party wants to settle your accident claim quickly. The sooner he can settle the claim the less he has to pay to end the claim. By settling an accident claim too early, you are cheating yourself out of money. It is impossible to know the full extent of your damages until you have completed your medical treatment.
You could have permanent disabilities because of your injuries. You have the right to receive compensation for permanent injuries but only if you have not settled the claim. Furthermore, you may require long-term care or be unable to return to work. If you settled your claim prior to discovering this information, you bear the burden of these costs because you cannot go back to the insurance company for more money once you have accepted a settlement offer.
Before you agree to settle your accident claim, call Torem & Associates at 1-800-954-4444 or use the contact form on our website to request a free consultation with a Fresno accident attorney. It is always in your best interest to consult an accident attorney to learn about your legal rights before you agree to a settlement claim.