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Rushing Into a Settlement Offer Can Be a Costly Decision

Nichol & Associates, Attorneys at Law March 9, 2022

Following an accident arising from another party’s negligence, hurriedly settling your claim is never advisable. Be it a case of medical malpractice or a car accident, it is necessary to take your time before accepting the first deal insurance adjusters offer you,

The whole point of compensation is to help you recoup the losses and other damages caused by your injuries. If it is not enough to cover all your damages, there is no point in it. Yet, you will find that the first offer is insufficient to cover you adequately in most instances.

This is because insurance companies are in business at the end of the day, and if you accept an offer that is less than the actual value of your claim, it’s a good day in the office for them.

Accepting an Offer Means Releasing the Other Party from Liability

If you do not know the actual value of your claim, then you should not be in a hurry to agree to any settlement offer. You may not know this but agreeing to a settlement offer essentially means that the matter is settled and both parties are happy with the outcome.

However, if things get worse on your side and you realize you need additional compensation, it may not be easy to achieve that. It is almost impossible to seek legal redress in such a situation unless undue influence or fraud was used to get you into accepting the initial offer.

Protecting Your Rights

Do not let anyone prey on your desperation or misinformation for their benefit. You need to make informed decisions from the moment you are involved in an accident. That way, you will not do anything that will jeopardize your claim or leave you with inadequate compensation.

Do not let them prey on your desperation by accepting less than you deserve.