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Settling a Car Accident Too Early Can Prove Costly

If you have been injured in a car accident caused by someone else’s carelessness, you may be eligible to receive compensation for the damages you have suffered. A car accident claim may help provide the money you need to repair your car, pay medical bills for your injuries, and recover lost wages or income if you missed work.

Although you might be in a hurry to settle your car accident claim as soon as possible to get the money you need to pay your bills and other obligations, settling your case too early could cost you.

Car Accident Settlements Are Final

Legal settlements are final. Whatever money you accept from the at-fault party as part of your settlement will be all the money you will receive from that party. If you later incur additional expenses or losses because of the accident, you cannot demand more compensation from the liable party after accepting the settlement.

The First Offer Might Be the Lowest

The first offer you receive from the at-fault party or insurance company in settlement negotiations will usually be the lowest offer you receive from them. Insurance companies are incentivized to get you to accept as little money as possible for a settlement, so insurers may first offer a low amount in the hopes that you might accept it.

You Won’t Know the Extent of Your Injuries Until You Reach Maximum Medical Improvement

Ideally, you should refrain from accepting a settlement in your car accident case until you’ve reached maximum medical improvement of your injuries. This is the point where you have recovered as much as can be expected. Once you have finished your treatment, you will have a much better idea of the total medical expenses and lost wages you have incurred. Additionally, you’ll have a better sense of any ongoing expenses you might incur in the future. By waiting until you reach full medical recovery, you will know what a fair and full settlement might look like.

You Can Make a Counteroffer and Negotiate

You should also not settle early because you always have the option to make a counteroffer to any settlement offer the insurance company makes. If you can prove that you have incurred greater losses than the insurance company’s offer, you may be able to demand a higher settlement amount and negotiate for a fairer settlement with the insurer or at-fault party.

Should You Hire an Attorney to Help You?

To maximize your recovery in a settlement, you may want to consider retaining a Midland, TX attorney to represent you. An experienced attorney can more accurately value your legal claim so that you go into settlement negotiations with an idea of what settlement amount you should accept. An attorney can also handle negotiations on your behalf and advise you when a proposed settlement might be considered a successful outcome for your case.

How a KRW Lawyer Can Assist You

When you are pursuing financial recovery through settlement, let Ketterman Rowland & Westlund help you by:

  •       Recovering evidence from the accident to prepare a strong case on your behalf
  •       Identifying all at-fault parties and insurance coverage
  •       Filing your claims with insurers
  •       Handling all communications with adjusters and defense lawyers on your behalf
  •       Aggressively negotiating for maximum compensation through a settlement
  •       Taking your case to court if litigation represents the best option for seeking a favorable outcome for your claim

If you’ve been injured, contact a San Antoniocar accident lawyer at Ketterman Rowland & Westlund today for a free initial consultation. We’ll provide an honest and thorough assessment of your case and help you understand what type of compensation you might be owed. 

Thank you for being an essential part of the KRW team. Our personal injury attorneys are ready to serve you and the Texans we love. Please call at 432-239-1224 or visit us online to schedule your free consultation today.