Considerations to Make Before Accepting an Injury Settlement Offer
In the blink of an eye, an automobile accident may flip your life upside down. In addition to numerous doctor’s appointments, you will almost certainly need to fix your car, hire a Toledo injury attorney, and deal with the insurance company. The insurance company will most likely approach you and offer you a settlement following the collision.
Many people have accepted these offers because they feel grateful to have received any assistance whatsoever. Unfortunately, this mistake will result in the plaintiff not being able to recover all the costs associated with the injury. Following an accident in a car, you should keep a few things in mind before accepting an injury settlement.
If you reject the settlement offer, you can still collect damages.
Insurers who say they will not make another offer create a sense of urgency to accept their initial settlement offer. If you reject the settlement offer, you’ll be out of luck. You will go through several rounds of discussions before receiving the settlement, and if you do not reach an agreement, you can take your case to trial.
You Must Sign a Release
As a condition of accepting the settlement offer, you will need to sign a release of liability. Even if the offer you accepted was insufficient to repay your losses, this release shields them from future liabilities. You cannot return to the insurer if you take a settlement and sign a waiver, even if you require more money.
MMI (Maximum Medical Improvement)
MMI refers to a stage in recovery when your injuries aren’t getting any worse, but they’re also not getting any better. The word is most commonly associated with workers’ compensation lawsuits, but it also applies to personal injury situations.
The injuries you sustained may be more severe than you anticipated, or you have more injuries that aren’t causing symptoms right now. You may not get the entire amount you deserve if you accept a settlement offer before reaching MMI.
Claims are not limited to immediate expenses.
Insurers will frequently give a settlement amount to cover immediate expenses like current medical bills, lost income, and so on. You can, however, make a much stronger case. In addition to your immediate expenses, you can seek damages for the cost of fixing your vehicle, future medical care, lost earning ability, and pain and suffering.