Should I Accept a Settlement Offer?

signing papers

After a car accident, injured parties need compensation to cover the costs of their medical bills, lost income, property damage, and more. The injured party would go through their insurance company to obtain compensation in many situations. Insurance companies might offer you a settlement that can cover some of the expenses, but there are a few things to know before accepting it.

What Is a Fair Settlement Offer?

A fair settlement offer should consider all of your losses. However, it’s also vital to recognize the policy limits and how insurance companies use these to evaluate your claim. A fair settlement offer should look at the following:

  • Lost income if you’re unable to work
  • Medical expenses associated with your injuries
  • Property damage to repair your vehicle

If it’s necessary to file a lawsuit, you can seek additional compensation for your damages. Be sure to speak with a lawyer.

What Happens If I Accept a Settlement?

If you accept a settlement offer, it essentially signals the end of your claim. You may not be able to pursue further compensation if you accept the settlement offer. In many situations, if you should be able to obtain more compensation, accepting the settlement can be detrimental to your case.

Should I Sign Anything Without Speaking with a Lawyer?

Insurance adjusters want you to accept the settlement offer, no questions asked. However, it’s in your best interests to speak with your legal representative to determine if the offer is right for your situation. A lawyer can inform you if the settlement is worth accepting or if you can pursue more for your damages.

At Zimmerman & Frachtman, P.A., our Florida car accident attorneys work to help you understand your options. We want to help you through the process. Our goal is to maximize the compensation you may recover to improve your quality of life moving forward. Let us be there for you.

For your free consultation, call our firm today at (954) 504-6577.

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