Should You Accept An Insurance Company Settlement After An Accident?
When accidents happen that result in personal injuries, insurance policies the at-fault party has in place can help to compensate you for medical expenses, lost wages, and other costs that result. Unfortunately, dealing with insurance companies is often a challenge as they have a reputation for either denying, disputing or undervaluing claims. Before accepting a settlement, be aware of the common practices they engage in and the steps you can take to protect yourself.
Dealing With Insurers In The Aftermath Of An Accident
According to the Centers For Disease Control and Prevention (CDC), personal injuries impact close to 40 million people each year. Dangerous or defective products, car, bike, or pedestrian accidents, and slips/falls or other types of injuries that occur on someone’s property are among the most common causes. Even a seemingly minor accident can leave you suffering serious personal injuries while incurring expenses totaling tens of thousands of dollars. In many cases, insurance policies that are in place can help to offset these costs.
In addition to auto insurance coverage, both property owner’s and renter’s insurance policies typically have provisions that cover personal injuries. If injuries occur due to a company’s negligence, they likely have liability coverage in place. However, dealing with representatives of insurance companies in this situation often proves difficult.
While representatives may act like they are on your side and want to help, remember you are dealing with a for-profit business. As such, they will look for ways to dispute your claim. Common tactics include:
- Disputing the circumstances surrounding your accident;
- Downplaying the severity of your injuries;
- Questioning whether coverage applies in the situation;
- Debating the total amount you need to recover.
Be Cautious In Accepting Settlements
The National Law Review warns that in general, insurers are likely to lowball it on the first settlement offer they make. They may have downplayed the property damages you suffered, the amount of medical treatment you need, or the impact your injuries are likely to have on your job. Before agreeing to any amounts of signing any documents, it is important to consider the following:
- Whether your doctor has determined the full extent of your injuries and the maximum amount of medical recovery that is expected.
- Additional medical costs you are likely to incur on top of doctor or hospital bills, including diagnostic tests, medications, medical devices, and any physical rehabilitation you may require.
- Future lost wages you are likely to suffer while attending doctor visits and pursuing treatment.
- The amount of pain and suffering your accident has caused both you and your loved ones and how it may impact your ability to engage in hobbies or other activities in the future.
Contact Us Today for Professional Help
Before making any statements to insurers that could be used against you after an accident or accepting any settlements that are likely less than what you need or deserve, speak with Bundza & Rodriguez, P.A. first. To request a consultation, call or contact our Daytona Beach personal injury attorneys online today.