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What to consider before taking a settlement offer

Car accident cases become complicated quickly. A few weeks ago, a three-car crash occurred on Interstate 95, which resulted in one person sustaining injuries and significant traffic backup. 

After involvement in any motor vehicle accident, it is critical to get in touch with your insurance company right away. Your insurance agency will speak with an adjuster from the other driver's company, and you may get a settlement offer fairly quickly. However, you need to be cautious about accepting that offer. You need to ask yourself some questions first to determine if this is the best route to take.

Will the settlement money cover all of your expenses?

You need to look at how much everything costs after the collision. This includes how much it costs to repair your vehicle and how much your medical bills are. If you do not yet know how much you will need to pay your medical expenses, then it may not be prudent to take an offer at this time. Once you take a settlement offer, the case becomes closed. You cannot re-open it, so you need to be confident you will be satisfied with the amount. This is why you always want an attorney by your side. If you are unsure about what to do next, then your lawyer can provide you with advice.

Do you want to continue with the risk of a trial?

You need to conduct a risk-benefit analysis of taking this case to trial. If you deny the settlement, then you go to court. You have no idea how much money the judge will award you. It could be far more than what the insurance company offers, or it could be much less. It all depends on the particulars surrounding your case. It is also a major time commitment. You need to review all your options so you can do what is ultimately best for you. 

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