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Should I accept an insurance settlement after a crash?

On Behalf of | Nov 12, 2021 | Personal Injury

In the aftermath of a severe car crash, you can be struggling with unanswered questions, pain and property damage. In these situations, accident victims often rely on their insurance company to tell them what to do.

However, insurance companies do not necessarily have your best interests at heart; they are businesses. And as such, it can be wise to think carefully and consider the following details before accepting an insurance settlement after a serious car accident.

You may not know all the damage yet

Filing a report with your insurance company right away is crucial. However, you may not know all the damage until much later.

Many types of injuries are not immediately evident after an accident. These include:

  • Internal damage
  • Chronic pain
  • Brain injuries
  • Back and neck pain
  • Concussion symptoms
  • Post-traumatic stress disorder

These injuries can be disruptive and painful, but they can take days or even weeks to become apparent. Thus, rushing to accept a settlement can mean it will not cover all your injuries.

It may not be enough

Settlement offers do not always reflect the full extent of damage a person experiences in a crash. They may not cover damages like emotional distress or the entirety of a person’s lost income if their injuries prevent them from working.

And depending on the amount of coverage you have, your expenses could exceed what the insurance companies must pay out.

The insurance company could be wrong

Insurance companies could wrongfully deny coverage or pay less than you may deserve. They might claim you could have avoided the accident or that you have not paid your premiums.

However, insurance companies can be wrong; when they are, injured parties can pay the price.

For all these reasons, it can be wise to think carefully before accepting an insurance settlement. If you are not sure about whether it is fair or not, you can consult a lawyer. 

Car accidents can do incredible immediate and long-term damage. Should this happen, you should be able to collect the financial remedies you deserve to help you recover.

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