You suffered a personal injury and you filed a claim. You still have some minor issues, but the insurance company is making you an offer to settle that is really tempting, should you settle early? You missed a lot of work. Bills may have gotten behind. The money could be useful. But, don’t rush in too soon.
Almost all insurance companies are in it to win it. Their profit comes from paying you as little as possible. The insurance companies are counting on you not knowing the law and they are waving a little money in front of you in the hopes that you will grab it and go away.
Listen to Your Attorney
Your personal injury attorney has seen this many times. A person is offered a few thousand dollars and to them, it sounds like a big sum of money. The fact is, it is NEVER what the case is worth. Your attorney knows you could have injuries that will flare up for the rest of your life. He or she knows your injury could hold you back from advancement or employment at another company. Your lawyer can calculate the income you stand to lose. In other words, they see the whole picture. They have seen the devastation of people who became impatient and walked away with a fraction of what they were deserving.
Your lawyer can show you cases where people jumped at that offer, then in a couple of years, the money was gone, and the injury still causes problems. Are you taking into consideration what will happen if you do not recover? What if you lost your ability to drive or remember important things. What if down the road, that injury requires a surgery? The insurance company will not come back with another offer. You are stuck. What will you do then?
The insurance company will go to great lengths to make you think their offer is the best there is. They count on your desire to put this all behind you and to get life back to normal.
In a word, they are treating you like a fool.
What if My Attorney Just Wants More for Themselves?
It is true that your personal injury attorney earns more when you earn more. But let’s get real here. Do you really think your personal injury case is what is keeping their business afloat? Do you think your lawyer would take on that much more work, including depositions negotiations, and filing just so they can collect more money off of your injury? That is silly. You hired him or her to protect your interest. They have spent countless hours preparing your case. Your attorney is telling you that they are blowing smoke in your face. (They wouldn’t dare try that with them).
No, you should not settle early in your case. You should let your lawyer earn their pay and do their job. When the time comes that they get on the same playing field, your lawyer will take care of it.