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Blogs from February, 2024

Should I Accept a Settlement from the Insurance Company?


After a car accident, dealing with the aftermath can be overwhelming. From repairs to medical bills, there are a lot of expenses that need to be taken care of. This is where your car insurance company comes in. They may offer you a settlement to help cover the costs of the accident. However, before you accept it, there are a few things you need to consider.

1. Understand What the Settlement Covers

Before agreeing to a settlement, it is essential to understand what it covers. Insurance adjusters will try to propose a settlement that benefits the insurance company, not necessarily what will cover all of your expenses. You should always have a list of your expenses and request that the settlement cover everything. You may want to negotiate for a better deal if the offer doesn't cover everything.

2. Consider Future Expenses

You may have immediate expenses that the settlement covers, but what about future expenses? It is essential to consider any future expenses you may have due to the accident, such as ongoing medical bills. You can use past medical bills to estimate these expenses and ask for this amount to be included in the settlement offer.

3. Talk to An Attorney

If you are unsure whether the settlement is enough to cover your expenses, it may be a good idea to talk to an attorney. An attorney can help you understand your rights and determine whether or not the settlement offer is fair. They can also negotiate to ensure you receive a fair settlement.

4. Consider the Long-Term Impact

Finally, consider the long-term impact of accepting a settlement. Once you agree to a settlement, you usually cannot pursue further legal action. This means that if you get a settlement that doesn't cover your expenses, you cannot go back and ask for more later. Ensure that the settlement offer is enough to cover your expenses now and in the future.

New Orleans Car Accident Attorneys 

Deciding whether to accept a settlement from an insurance company is a critical choice that can significantly impact your future. At Womac Law Firm, we are dedicated to helping accident victims like you receive the compensation they deserve. Contact us at (504) 470-3935 today for a free consultation, and let us fight for your rights.

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