Take Insurance Settlement Offer or Hire a Virginia Personal Injury Lawyer
When you've been injured in an accident, one of the first questions you might have is after receiving a settlement offer from an insurance company. Insurance companies want to move quickly to settle claims for as little as possible. While it can be tempting to accept their offer as you want to move on, consider whether or not accepting an insurance company settlement offer is in your best interests.
Why You Should Consult a Lawyer Before Accepting an Insurance Settlement
You may be eligible under the law to receive compensation for damages incurred because of the accident, which can include medical expenses, wages lost from missed work due to the crash or to attend medical appointments, and even costs for pain and suffering and from the loss of enjoyment of your life. Consulting with an experienced Virginia personal injury lawyer before accepting any settlement can make a significant difference in how much you receive as a settlement.
Understanding the Total Value of Your Claim
Insurance companies may pressure you to quickly accept a settlement offer. Even when this sounds like a considerable sum, it may be lower than what you might be entitled to receive if you filed a personal injury lawsuit. These offers are calculated to save the insurance company money and may not cover all of your expenses related to the accident, especially if you have long-term medical needs, have to make modifications to your life or your home due to your injuries or have lost wages from missed work because of the accident.
An experienced personal injury lawyer can help you understand the true value of your claim by considering everything you are entitled to receive under the law as an accident victim.
Insurance policies can be written so that they are purposely difficult to understand, giving an advantage to the company. With a personal injury lawyer advocating for you, they can ensure you don’t agree to any terms that could be detrimental to your case.
Negotiating a Fair Settlement
Insurance adjusters are skilled negotiators and can make you feel like you have to accept what they offer or else you’ll get nothing. When you hire a personal injury lawyer who is familiar with all aspects of Virginia law, you level the playing field. Lawyers are experienced in negotiating with insurance company adjustors and know how to advocate for a fair settlement that adequately compensates you for all of your injuries and losses, including costs calculated into the future as the result of injuries.
Protecting Your Legal Rights
When you accept a settlement offer, you typically sign a release form that absolves the insurance company from any future claims related to the accident. Once you sign this form, you can’t pursue any additional compensation, even if your injuries and expenses are more severe than you initially thought. A personal injury lawyer ensures that you don’t waive any of your legal rights and that the settlement terms are in your best interest.
Contingency Fee Arrangements
Many people hesitate to talk to a lawyer because they are concerned about how to afford their fees. However, most personal injury lawyers work on a contingency fee basis, meaning they only get paid if and when you win your case. This arrangement makes legal representation accessible to many people and ensures your lawyer is fighting for everything they can for you under the law.
Accept a Settlement or Work with a Personal Injury Lawyer
When deciding if you should take an insurance company settlement offer versus hiring a personal injury lawyer, you should make an informed decision. Consulting with a lawyer who has experience handling your type of case before accepting any offer ensures that you fully understand the value of your claim. With a lawyer advocating for you, they can navigate with insurance representatives, negotiate a fair settlement, and protect your legal rights by seeking the maximum compensation available to you by law.