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Beware of early settlement offers for your car accident claim

You may get a quick offer from an insurer to settle your car accident claim and put the matter to rest. While this may sound like a good idea, it is advisable not to rush into accepting the offer.

In most cases, initial settlement offers do not reflect the actual value of the claim. Accepting such an offer and closing your claim is good for the insurer since they will save some money that would have otherwise gone to your compensation package. Most importantly, you may not recover further damages once you settle your claim.

What happens if you reject a settlement offer?

By rejecting an offer to settle your claim, you don’t waive your right to compensation. It is well within your rights to disagree with offers that do not measure up to your damages. The insurer will have to go back to the drawing board and come up with an improved offer or engage in negotiations to find common ground.

How much are you entitled to?

The compensation to which you’re entitled after a car accident is determined in part by the damages you suffered. They include medical bills, lost wages, emotional anguish and pain and suffering. Since every car accident is different, the compensation you should expect will vary, depending on your situation.

Do not settle for less

You may think of accepting the first settlement offer that comes your way so that you can put everything behind you and move on with your life. However, you could find yourself in financial difficulty if your condition deteriorates, and the compensation you agreed to is insufficient

To avoid such inconvenience, it helps to have experienced legal representation before filing your claim. This will help protect your interests and advise you on the options available should negotiations with the insurer prove unsuccessful.