After an accident, it’s possible for a person to be offered a settlement by the at-fault person’s insurance company. While the settlement might look like a large amount of money, it’s incredibly important for the person to make sure it’s actually going to be sufficient. It’s a good idea for the person to speak with an Accident Attorney in Medford MA before accepting any settlement offer.
Why Might Accepting the Settlement be a Bad Idea?
Insurance companies try to make a profit and they cannot do this if they pay out the full amount of every claim. Instead, they’ll try to offer the lowest amount the person might accept. Most of the time, the person will accept the settlement because it seems like a big amount. They won’t find out until much later that the settlement is actually not large enough to cover all of their expenses from the accident.
What Happens if Someone Accepts a Settlement?
If the injured person accepts the settlement, they cannot receive more money later. There’s a very good chance the amount is not going to cover all of their expenses and they’ll have to cover the remaining expenses on their own. Barring a few exceptions, they cannot sue to obtain further compensation after accepting the amount they were offered by the insurance company.
What Can a Lawyer Do to Help Before Accepting a Settlement?
A lawyer can review the facts of the accident and the settlement offer from the at-fault person’s insurance company. This will help them determine whether the settlement is adequate or if the injured person might want to look into negotiating a higher settlement from the insurance company. The injured person can work with the lawyer if they do decide to attempt to obtain a higher settlement from the insurance company.
If you’ve been injured in an accident and the at-fault person’s insurance company is offering you a settlement, it’s a good idea to make sure you speak with an Accident Attorney in Medford MA right away. They can help you determine if the settlement is sufficient. Visit the Law Offices of Burton J. Hass online to find a lawyer to help you. You can also visit them on Facebook.