Car accidents are no fun. Not only do they cause damage to your car and possibly to your body, there is also the hassle of trying to figure out how much compensation you deserve. Filing insurance claims and dealing with insurance companies can be challenging, and we often look upon the paperwork process as a daunting task. Simply put, there are many who just don’t know what to do and how to do it when it comes to accepting a car accident settlement.
At Collision 24, we care about your well being, and that is why we want the drivers of Brockton, Stoughton, and Randolph to know about what to do following a motor vehicle incident, how to work with insurance companies, and when it is time to accept your settlement, learning all there is to know when negotiating a car accident settlement.
The Initial Offer
Be aware that insurance claim adjusters will often offer you the lowest level of compensation. Since a car accident puts you in a stressful situation, you may be tempted to take the first offer of money and deal with it just to regain some control. However, you are not required to accept the initial compensation offer if you feel it is too low. While you may not receive compensation as quickly as you would when agreeing to the original price, a little negotiating can go a long way and is usually worth it.
Assess the Damage in Every Detail
Following a car accident, you first need to take into account any and all damages, as well as their financial implications, when determining how much you should settle for. You have to think about the cost of vehicle repairs and the amount of compensation needed — especially if you suffer from any bodily injuries.
When you consider how much you deserve in terms of injury, it is important to examine the effect that injury will have on you in both the short and long term. It is paramount that you plan for every bill that needs to be paid when you deal with an injury, including potential hospital visits and any medications you may take thereafter. Depending on the severity of your injury, you may need medication for an extended period time, miss a substantial amount of work time, or you require physical therapy to help recover. All of that adds up to a lot of bills, so make sure you know all the ways in which you are covered.
Know What Your Policy Offers
Make sure you have a full understanding of your car insurance policy. After all, you cannot receive compensation for something you and your car insurance company never agreed to compensate you for. Guarantee that you know what damages can be covered, from vehicle damages to personal injuries gained from an accident.
If you know your policy inside and out, then you will know the amount of compensation to which you are entitled. Again, when first speaking to an insurance claim adjuster, you will most likely be offered less than you deserve. Yet, if you familiarize yourself with your policy, you’ll be prepared to necessitate further compensation in case you are not offered the proper amount.
If the offer does not meet the standards you were promised by your insurance company, you can write a claim letter so that the settlement can be properly disputed.
You Can Always Contact a Lawyer if Needed
Even when you understand your insurance policy, you can take legal action if you feel it is appropriate to do so, like if you and your insurance company are unable to reach an agreement. Hopefully, your situation will not come down to the need for legal help, but it is pertinent to recognize all your available options.
When do I settle?
Finally, if you are still considering when to accept a car accident settlement? It is as soon as you get the proper compensation you deserve. If you understand your policy in full, you will know when the time is right.
To all the drivers of Brockton, Stoughton, and Randolph — please make sure to review your policy and seek out answers if you have any questions. Most importantly, always drive safely to avoid ever having to worry about car accidents or settlements.