If you were recently injured in a car accident, you may notice the medical bills are quickly mounting, and if your injuries are particularly severe, you may be left unable to work at this time. While it may feel like everything is working against you and an early settlement offer from the at-fault party’s insurer seems convenient, it’s best not to rush into accepting a settlement. Unfortunately, early settlement offers are often too good to be true as the at-fault party’s insurer is not on your side. Therefore, you should understand the risks of settling a car accident claim too quickly despite how much you might need the money. Please continue reading to learn how accepting an offer too soon can backfire and how a trusted Prince George’s County Auto Accident Lawyer can help you fight for the just compensation you deserve. 

Why Do Insurance Companies Offer to Settle Early?

Following a collision, insurance adjusters are quick to make a settlement offer. While receiving a settlement offer right off the bat may seem reasonable, it’s not beneficial to accept as insurance companies want to avoid paying what your injuries are worth. Essentially, offering an early settlement is a strategy that insurance companies use to minimize their financial liability and take advantage of an injured party’s vulnerable position. This tactic is executed before victims fully understand the full scope of their injuries and damages. While such an approach benefits insurance companies, you may be left receiving a lower settlement than warranted. Therefore, it’s best to avoid accepting a settlement offer until you reach maximum recovery or receive a firm medical diagnosis.

What Are the Risks of Settling a Car Accident Claim Too Quickly?

If you receive a settlement early on, it may seem like a quick fix to your problems since you won’t have to wait to be compensated for your losses. However, accepting the offer could mean you end up receiving less than you deserve. As mentioned above, an insurance adjuster’s job is to save their employer as much money as possible. The best way to accomplish this is by offering a quick settlement. It’s crucial to understand that once you sign off on a settlement offer, you relinquish your right to pursue legal action against the at-fault party in the future. If you discover that the amount you accepted does not cover the full extent of your injury-related expenses, you will be left footing the bill.

Instead of rushing into a settlement before you know the severity of your injuries, you should enlist the help of an experienced Prince George’s County auto accident lawyer, who can help you negotiate a fair settlement. It’s advisable to consider the first settlement offer as the point from which negotiations can begin. A qualified attorney will use their negotiating skills to fight for the maximum compensation you’re entitled to for the damages you’ve incurred. Don’t assume this is your only chance at attaining the compensation you need. If your case proceeds to trial, an attorney will advocate for you and protect your rights.

If you have been injured in a car accident due to another driver’s negligence, please don’t hesitate to contact a determined attorney from Timian & Fawcett, who can help you fight for the maximum compensation you’re entitled to receive.