If you have recently been involved in a car accident, you are going to receive a settlement offer from your car insurance company in order to compensate you for any physical damage to your vehicle and property, as well as damage that you yourself sustained. Here are three things you need to keep in mind before you sign any settlement offers by your insurance company in relation to your car accident.
Make Sure There Isn't Anything Else You Need To Be Compensated For
The first thing you need to do is make sure that there are not any additional injuries or damages that you need to be compensated for. Make sure that everything has been fixed on your vehicle and that there is not any additional work that needs to be done. Make sure that any physical damage to property that was a result of your accident has been paid for. Then, talk with your doctor and make sure that all of your injuries have been fully treated and that no further treatment is necessary.
If you find that your car needs more work, that you have damaged property that has not been compensated, or that you need more medical care, you should not settle yet.
Make Sure You Know The Value Of Your Claim
In addition to making sure that everything is accounted for, you need to make sure that the numbers add up as well. You'll want to make sure that the settlement offer compensates you for:
- Physical damage to your vehicle
- Physical damage to your property
- Medical bills
- Lost wages
- Pain and suffering
If you are not sure if your numbers add up, ask an attorney to look over your settlement offer. Attorneys are familiar with how settlement offers work and what a fair compensation value is.
Make Sure You Understand The Terms
Finally, you need to make sure that you understand all of the terms and regulations of your settlement offer. You should have a clear understanding of:
- Who will pay your claim
- When your claim will be paid
- Who will be paid
Sometimes, settlement offers will pay your mechanic and your doctors' bills directly and then give you the remainder of the settlement. Other times, it is up to you to settle those debts. Make sure you understand the fine print of your settlement, and seek the assistance of an attorney if you have any questions about the terms.
Before you accept a settlement offer from your insurance company for a car accident, take some time to look over the settlement offer with a personal injury attorney. Make sure you are compensated correctly for all the damages related to the accident and that you understand all of the fine print and terms associated with your settlement offer. Don't feel pressured to sign the offer; you can take all the time you need to fully understand it.