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Don't Settle Your Accident Claim Until You Know The Fair Value

If you get in an accident, an insurance company may offer you a small amount of money to quickly settle your claim.

Though it may be tempting to accept the insurance company’s offer, there are several reasons why you should wait until you know the full extent of your injuries and losses before settling your accident claim. They include:

  • It takes time to know the extent of your injuries. Many injuries take weeks or even months to fully develop; what at first seems like minor injuries can get a lot worse. So what you thought right after the accident would be little or no monetary expenses can result in large medical bills, lost wages, and other financial losses. If you settle your case too soon, you will likely have to pay for these yourself.
  • Insurance adjusters won’t tell you everything you can be compensated for. Another reason why you shouldn’t settle with an insurance adjuster too fast is that there are many different types of damages for which accident victims can be compensated. Insurance adjusters won’t tell you about all of them (no matter how hard they try to convince you that they’re telling you everything). Some of the main types of damages that accident victims can be compensated for are past and future medical expenses, past and future lost wages (even for part time work), lost earning capacity, pain and suffering, and property damage.
  • Once you settle your claim, there’s no turning back. It’s important to remember that once you accept a settlement, you can’t go back and ask for more money if you later find out you have more damages (unless there’s fraud or another legal reason to cancel the settlement). So you must be very careful when deciding how much to settle your case for.

Call Us For Help With Your Accident Claim

To find out the true value of your personal injury claim, don’t rely on what an insurance adjuster tells you is the fair value. Insurance adjusters work for the insurance company, not you. They will want to settle your claim for the lowest amount of money. Instead, contact Schottenstein Law Offices. We are truly on your side, and we will tell you all the different kinds of damages that you can be compensated for under the law, and therefore the fair value of your claim.

Give us a call TODAY at (614) 467-8474 to schedule your free consultation. We’ll even arrange free valet parking for you!