When you've been in an auto accident, the thought of paying all of your medical bills and other accident-related expenses as quickly as possible may be at the front of your mind. While immediate compensation can be helpful at first, it quickly becomes clear that you might have settled for less than you could have. Below are three reasons why quick settlement may be a bad idea and how an auto accident attorney can help you.
Insurance Companies Want to Pay as Little as Possible
Insurance companies make the majority of their money by paying out as little as possible. When you settle with an insurance company, it's important to keep in mind that they're looking to pay you just enough to get you off their back and no more.
Proper representation can significantly impact your compensation amount because it shows the insurance company that you're interested in getting what's owed to you and not just whatever amount they throw your way. Your auto accident attorney will help you to build the best case to ensure you get all that you deserve and not a penny less. While this may take more time than you would like, it will be more beneficial for you in the long run.
You May Not Yet Know the Extent of Your Injuries
Insurance companies like to settle cases as quickly as possible. This cuts down on their case costs and, if the accident victim doesn't have proper legal representation, can save them from an expensive settlement.
While a quick settlement will put cash in your pocket sooner, it can also mean you miss out on compensation for further issues related to the accident. Injuries caused by auto accidents can have long-term, and sometimes even permanent, effects. If you settle with the insurance company too early, you may not be getting fully compensated for an accident that was all their policyholder's fault. With the help of an attorney, not only will previous medical expenses be paid, but you may also be able to receive compensation for lost wages, pain and suffering, and other non-immediate issues related to the accident.
You Could Unknowingly Do Harm to Your Own Case
Settling your auto accident case without the help of an experienced attorney can result in unsatisfactory compensation which usually cannot be resolved later on.
When you settle your case with an insurance company, the company will have you sign a release form stating you can no longer seek any form of compensation. Even if further medical issues or property damage costs directly related to the accident are discovered after the settlement, there is nothing that can be done on your end. This is why it's best to wait until you receive legal counsel before signing any forms or making any agreements with the at-fault driver's insurance company.
To ensure best results when settling an auto accident case, consult an experienced auto accident attorney. They will provide you with the information and advice you require during this time, and will also be a big part in helping you to collect the documentation and further proof you need.