Should you accept the insurance company’s settlement offer after an accident in California? Many people choose to settle for compensation, but in general, the professionals recommend carefully reviewing the deal and negotiating before you sign any paperwork.
You can hire a Los Angeles personal injury lawyer to go over the details of your accident and the settlement. Our team at the Simmrin Law Group can assess your losses and help you decide if settling is right for you or if you should file a personal injury lawsuit.
You can learn more by calling or completing our online contact form.
When Should You Settle With the Insurance Company?
Generally, you should only accept a settlement offer from the insurance company that fully covers all the expenses associated with your accident. It’s important to carefully read over any settlement document because you generally cannot get more compensation once you sign it.
Therefore, the professionals often recommend against immediately signing the first settlement offered by insurance companies. You may only know the full extent of your losses after receiving medical treatment and having time to recover.
An attorney can stand up for you if the insurance company tries to pressure you into signing right away. In fact, you can count on your lawyer to handle all legal communication, giving you more time to heal.
Should You File a Lawsuit Instead of Settling?
Many individuals choose to settle with an insurance company after an accident. Settling can cover your losses, providing compensation more quickly than filing a lawsuit and avoiding court fees. However, you do not have to accept a settlement offer in all situations.
If the insurance company refuses to treat you fairly, your lawyer may advise you to file a lawsuit against the at-fault party.
For a free legal consultation, call (626) 709-2523
What Compensation Should You Look for in a Settlement Offer?
You can accept a settlement offer that fairly covers all the losses caused by your accident. Your lawyer may review the offer to see if it addresses your:
Medical Bills
Accidents in California can leave you with broken bones, spinal cord injuries (SCI), concussions, and other serious injuries. Your settlement should cover the costs of all the medical care you require, including your:
- Emergency treatment
- Days spent in a hospital
- Medical assessments, tests, and procedures
- Rehabilitative services and medications
Your lawyer will keep track of these expenses for you to ensure the settlement covers all of them.
Lost Wages
Sometimes, you have to take off work to recover after an accident. In this situation, your settlement should cover your lost pay.
You may also need the settlement to cover your lost earning potential if the accident left you with a disabling condition.
Pain and Suffering
Settlements may cover some non-economic damages. These funds cover the emotional anguish and pain caused by accidents. Your lawyer can determine if your settlement should include these funds.
Property Damage
Finally, settlements for some accidents – like motor vehicle collisions – often cover your property damage losses. Your attorney can help you estimate the damage to your car after an accident and collect bills from the repair shop to back up your losses.
What’s a Good Settlement After an Accident in California?
A good settlement offer should cover all of the expenses caused by your accident, so we avoid trying to bring our clients an average settlement amount.
Instead, your lawyer will review all your expenses and negotiate with the insurance company to try to reach an amount that addresses your specific needs.
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How Long does It Take to Settle With the Insurance Company?
Settlement negotiations often take at least several months. In some cases, they may take longer, especially if the insurance company tries to use stalling tactics to deny you compensation.
Your lawyer will work relentlessly to complete the negotiations and bring you compensation in a timely fashion. If the insurance company continues to delay or refuse fair offers, we can discuss filing a lawsuit.
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What Happens After You Accept a Settlement Offer?
Once you accept a settlement offer, you will receive compensation to cover your losses. You may receive the money in a lump sum or through a structured settlement that provides compensation in payments.
Your lawyer will discuss the method of payment with you before you sign any paperwork.
Talk to Us Before You Accept a Settlement Offer
Should you accept the insurance company’s settlement offer after an accident in California? While settling may provide you with compensation for your losses, we recommend having a lawyer carefully review the offer before you make a binding decision.
Our team at the Simmrin Law Group can go over your losses and fight to bring you fair compensation. If the insurance company won’t negotiate, we can even help with a lawsuit. Learn more by calling or completing our online contact form.
Call or text (626) 709-2523 or complete a Free Case Evaluation form
