Almost all insurance claims of any sort end by reaching some kind of settlement. The important thing I want you to remember here is you don’t want to take a settlement until you’re sure that is all you are going to get. Insurance adjusters are keen in probing you to take an offer and make claims that you will not get any more money from the case, but stop right there and seek the advice of an auto accident attorney. You don’t want to regret a hasty decision. You can take your time and please know that you have at least a year in every state to settle your claim.
Here’s the deal. You really can’t know how your body may be affected by an auto injury right away. Not even the best doctors know for sure. But see them. They will give you information on their diagnosis of your injuries and what to expect for recovery. This may involve potential rehabilitation or other problems that may happen in the future. With all this information and the help of your attorney you will negotiate with the adjuster and if you’re happy, make some sort of settlement. This is normally a long and drawn out process.
But once your claim is settled the insurance company will try what they can to seal the claim so you can’t come again and try to open the case. You’re probably going to be asked to sign a document to prevent this called a Release and Waiver. This is a waiver that lists conditions of things you can’t do. If they are within reason, and your attorney agrees, you might sign off on it and then you’ll be able to collect on your claim.
When you sign that Release and Waiver you’re actually giving up all known claims against the other party. Know that this means even if your back starts giving you major problems, you cannot collect for more money. Your attorney knows this.
If you are waiting for the other party to make an initial offer of settlement, and they are taking a long time, know that you can file a demand letter spelling out what you want from the other party. You’ll have no idea how to do this without an attorney, so once again, my advice is to get one. I only list these things because I know you probably don’t know about them.
So remember, don’t jump at the first offer no matter how large it may seem to you. Hold your ground until you have talked it over with your attorney who will want you to be checked out by a doctor. Then if the other party is taking too long to initially make you an offer on your settlement, then get with your attorney and write up a demand letter specifying what you want in financial compensation.