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3 reasons to reconsider taking the first settlement offer

On Behalf of | Dec 21, 2023 | Personal Injury

Suffering a personal injury can be a harrowing experience, and the aftermath is often marked by medical bills, lost wages and emotional distress.

If you received an initial offer from the responsible party’s insurance company, it may be tempting to accept it quickly to resolve matters. However, it is wise to reconsider and explore your options.

1. Insufficient compensation

The initial offer from the insurance company may not adequately cover all your expenses. Medical bills, rehabilitation costs and ongoing treatment can accumulate, often surpassing the initial estimate of damages. Accepting a settlement too early could leave you with out-of-pocket expenses down the road. Take the time to assess the full extent of your injuries and expenses before settling.

2. Unforeseen long-term consequences

Some injuries may come with delayed symptoms or lead to long-term consequences that are not immediately apparent. Accepting a quick settlement may prevent you from seeking compensation for future medical expenses or extended rehabilitation. It is important to consider the potential long-term impact of your injuries.

3. Lost income and future earnings

Injuries often result in missed work and lost income. The initial offer may not accurately reflect the full extent of your financial losses, both in terms of immediate income and potential future earnings. Take into account not just the wages you lost but also any impact on your ability to work in the future.

Unintentional injuries sent 25.5 million to the emergency room in 2021. Depending on the severity of the injury, these situations may come with a lifetime of added medical expenses and suffering. Before accepting a settlement, ensure that it truly reflects the full scope of your damages.