A motor vehicle accident can be a traumatic event that can leave a Wesley Chapel resident with lifelong suffering and pain. In the wake of a collision, a victim may be contacted by an insurer for the responsible party to quickly and quietly settle their claim. A settlement is an out-of-court agreement that compensates a victim but also eliminate their rights to later sue for their losses.
Settlements can provide victims with money, but they are not always sufficient to cover the full extent of victims’ needs. This post offers no legal advice but provides readers with information on the challenges of settlement following motor vehicle accidents.
The temptation to settle a motor vehicle accident claim
After an accident, the financial pressures of a victim’s recovery can feel heavy and overwhelming. A victim and their family may face uncertainty over how they will cover the costs of the victim’s treatment. Depending on their circumstances and their ability to work after a crash, a victim may want to take a settlement as soon as it arrives in order to have money in hand to pay their immediate bills.
Not all settlements are enough
The problem with many settlements, though, is that they are just not enough to fully compensate victims for their losses. A settlement may cover the immediate and short-term costs that a victim and their family face, but it may be insufficient to cover long-term lost wages, ongoing medical costs, and rehabilitation expenses to get a victim back on their feet.
It can be beneficial to motor vehicle accident victims to seek the counsel of personal injury attorneys after their crashes. These professionals can help their clients review settlement offers and seek more just resolutions to their legal expectations and needs.