If you have been injured in an accident, you will most likely deal with an insurance company of some kind. That insurer may even appear as though they are on your side, offering to help in any way that they can. Eventually, the insurer will provide a settlement for your injuries, pain, and suffering.
While it might be tempting – especially with your compounding medical costs and lost wages – it may be in your best interest to consult with an attorney before accepting any settlement.
Once You Accept, You Cannot Sue
Typically, an insurer will require a release when you receive your settlement. Not only will that release prohibit you from collecting compensation in the future, but you are unlikely to succeed with a lawsuit later once you have accepted payment and closed out the claim from an insurance company or third party.
Insurance Companies Look Out for Their Interests – Not Yours
An insurance company may offer what seems like a generous compensation amount, but realize that it is still a business. A successful business is one that protects its bottom line. The insurance company is offering the bare minimum to you to cut its losses, but without costing its business more than necessary. Most likely, if you calculated the numbers and included future costs of your injury, you would see that the settlement is not only inadequate, but much lower than what you need.
The Cost of an Attorney Outweighs the Cost of Hiring a Lawyer
Sometimes, victims assume that they will save significantly on attorney’s fees by negotiating with the insurance company on their own. While possible, you should note that a lawyer statistically yields a higher settlement value than when a victim negotiates alone.
An attorney brings to the table years of experience handling injury claims and cases. He or she knows which laws apply, which rules govern insurance companies, and what compensation you are lawfully entitled to collect. An insurance company is hoping that you will not examine your rights or educate yourself on what you are entitled to. Once you do, the company will have to pay you more.
An attorney brings a wealth of knowledge to your case, including:
- The knowledge of how to calculate non-economic damages, such as pain and suffering, emotional trauma, or mental distress.
- Experience in negotiating with insurance companies.
- Experience in litigations. If the insurer refuses to settle, your attorney is ready to go to trial.
- Advice for paying for your medical costs and household expenses while you wait for a settlement.
- Assistance with combating settlement liens, including those from your health insurance, automobile insurer, or the hospital.
Don’t Settle – Instead, Contact Attorney Clarke Nash for a Free Consultation
There is no obligation or cost to meet with The Law Offices of B. Clarke Nash, P.C. for your initial consultation. So, before accepting an insurance settlement, see what Clarke has to say regarding whether or not you could receive a higher compensation by working with him.
Schedule your appointment now at 912-200-5292 or contact him online to set up your appointment.