If you are a victim of another motorist’s reckless or unlawful actions, you may be entitled to financial restitution for your injuries and other damages. To facilitate this, you must file a personal injury lawsuit against the liable party according to Virginia negligence laws.
What if the defendant’s insurance company approaches you with a settlement offer? During those challenging times, you may be tempted to accept the offer, take the money, pay your bills and move on with your life. But is this always a good idea?
Before accepting a settlement offer, it is important that you thoughtfully answer the following questions:
Have you established the extent of your injuries?
The primary reason for settling a car accident claim is to ensure that you receive the monetary compensation you need to treat your injuries and other damages. To receive fair compensation, therefore, you need to understand the scope of your injuries.
Remember: Once a claim is settled and the insurance company releases compensation, you may not get back to them for additional compensation.
Do you know how long your injuries will keep you from work?
Besides personal injuries and property damage, a car accident settlement should also take lost income, and income potential, into account. This includes the days you missed work while receiving treatment as well as future loss of income that is directly attributable to your injuries. If you aren’t back to work, it would be premature to settle.
A car accident can leave you with devastating injuries. If you are involved in an accident that was not your fault, you need to explore your legal options so you can receive the compensation you deserve.