Should I Take the Settlement from the Insurance Company?
It is best to have an attorney review any settlement offer before you accept.
Being involved in an accident is typically a traumatizing experience. While it would be insensitive to say that there is anything good about being involved in a serious accident, when you work with a skilled Nashville personal injury attorney, there may be a light at the end of the tunnel — a settlement offer from the insurance company.
Being offered a settlement can be a huge relief—something you have long been waiting for. But before you accept the settlement and sign a release of claim, here is what you need to know:
What Happens When You Accept a Settlement?
Before diving into why it may not be in your best interests to accept a first settlement offer, let’s discuss what happens when you accept a settlement.
When a claimant accepts an insurance settlement offer, the insurance company will ask the claimant to sign a release of claims. This is a statement that, when signed, results in the claimant forfeiting their right to pursue any further damages against the insurance company; it releases the insurance company from all future claims. If you sign this, you cannot pursue any further compensation.
Why You Should Not Accept a First Settlement Offer
Accepting the first settlement offer that you receive can be tempting. You may desperately need the money after being severely injured, and you likely do not want to wait any longer to receive a settlement. The claims process can be exhausting, and most people are eager to end it. Knowing this, the insurance company will likely lowball your settlement offer, hoping that you will accept it out of desperation and a lack of understanding of what amount you really deserve.
If you accept the first settlement offer you receive, you will likely be accepting an amount that is less than you deserve and less than you could get if you let your personal injury lawyer negotiate on your behalf; you will also be releasing your right to pursue more damages in the future.
How a Nashville Personal Injury Attorney Can Help
When you work with a Nashville personal injury attorney, your attorney can review a settlement offer and advise you on whether to accept it. If the settlement offer is less than you deserve, your attorney can enter into negotiations on your behalf and aggressively advocate for your right to a larger amount. If reaching a fair settlement agreement proves impossible, your lawyer can file a lawsuit and litigate your case in court. Throughout the whole process, your lawyer will be advocating for you.
Call the Office of Bednarz Law Today
At the office of Bednarz Law, our experienced Nashville personal injury lawyers know what you are going through and understand how eager you are to end your claim and get a settlement. We will work hard to get you your full settlement while also settling your claim as quickly as possible. To schedule your free consultation, please call us directly today or send us a message online.
