Why Quick Settlements Aren’t Always the Best Settlements
Getting quick settlements for personal injury claims may seem like a good sign, but they aren’t always. If you have been injured and plan to file a personal injury claim in the state of Tennessee, there are many things you have to consider while dealing with your claim. Your settlement will be determined by insurance coverage, pain and suffering, lost wages from work, and any medical bills. State and federal courts have time limits for either filing a civil complaint or formal criminal charges, which are intended to ensure the integrity of evidence and to prevent people from threatening lawsuits indefinitely. Tennessee’s Statute of Limitations states that you have exactly one year from the date of your injury to file a personal injury lawsuit. So there can be some pressure felt to find quick settlements with personal injury claims.
I’ve Been Injured, What Now?
If you have been injured in an accident, you should seek medical attention immediately to ensure that there is a record of your injuries and any incurring medical expenses. Once treated by medical professionals, you should contact an attorney at The Cochran Firm Mid South to review your case and get you the settlement you deserve. Your attorney will review the evidence and medical records and investigate your claim. If you are unable to reach an agreement with the other party during the negotiation process, your attorney will file a lawsuit. If your settlement does go to court, you should expect it to be a very long process. During this process, you may be asking yourself, why is it taking so long to settle my personal injury case? This process can be affected by many reasons. Here are some reasons why certain personal injury cases may take a long time to settle:
- There are unresolved legal or factual issues in your case, such as questions about who was at fault for the accident.
- Your case involves a significant amount of money, in which case insurance companies will do everything they can to avoid paying the full amount of damages available to you.
- You are still being treated for your injuries, which means the exact cost of your short and long-term medical treatment has not been calculated.
If your injury involves any of these circumstances, unfortunately, your claim is going to take some time to settle. But, you are more likely to receive fair compensation for your damages rather than falling short.
Accepting Quick Settlements
Quick settlements are usually accepted if you are in a rush and need compensation quickly after your accident. Most lawyers would recommend that you do not accept the initial settlement right away. Insurance companies want to settle. This is because when insurance companies know that you are in a rush to get your money, they know that you will settle for much less. One strategy insurance companies use to save money is offering premature settlements to victims who do not know any better. Though insurance companies claim to be working for you, the truth is that they are working for themselves. Their primary goal is to save as much money as possible, which means reducing the amount of compensation they pay out in claims. The insurance adjuster is trained to control the direction of your claim in order to provide maximum benefits for the insurance company and minimum benefits to you.
If you have large expenses to claim after your injury, it is usually best that you wait out the process to get everything you are entitled to. For example, what if your injury causes unexpected complications? Or what if your recovery time doubled and you have to miss work? Accepting quick settlements could greatly impact your future so you need to prepare for the future.
Don’t Wait For The Insurer’s Offer Before Calling An Attorney
An insurance adjuster may ask that you wait for their offer before calling an attorney. While you certainly have that right, you may lose out on valuable information that a lawyer could provide in the meantime. Quick settlements handled without an attorney are also cheaper for insurance companies, and they’re likely to dissuade you from involving legal representation for that reason. Talk to an experienced attorney at The Cochran Firm to go over your options and see if a quick settlement is the right option for you.
If you have been offered a quick settlement, it is even more important to speak to a lawyer to ensure that you are getting a fair deal. More often than not, quicks settlements are not worth it. We can help you obtain maximum compensation for your injuries. We are ready to handle your case in Tennessee, Arkansas, and Mississippi. Personal injuries can be complicated, but with our team there’s no need to worry. Visit us at www.cochranfirmmidsouth.com or call 1-800-THE-FIRM to speak to a representative today at no obligation.