You may be contacted by an insurance company with a settlement offer. They may promise quick payment and even suggest that it is the best that they can do. Meanwhile, your medical expenses are adding up, you may not have a car and there is less money coming in if you can’t work. It can be tempting to accept the offer. But there are some things to think about before agreeing to any settlement.
First, insurance companies typically make lowball settlement offers, especially if it’s the first offer they are making soon after an accident. Their offer won’t come close to covering all the damages you suffered. They are hoping you don’t know how much your claim is worth and will simply take the quick deal and go away.
Second, you only get one shot at a settlement. Once you agree to accept the money they are offering, your claim is over. You can’t go back to them later and ask for more money, even if your injuries get worse over time.
Third, you can and should ask for more money. Insurance companies are always involved in settlement negotiations. They can do better than the initial offer they made to you. A lawyer can help you negotiate for more.