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4 reasons to reconsider taking the first settlement offer

On Behalf of | Dec 7, 2023 | Personal Injury

Getting involved in a motor vehicle accident can be a life-altering experience, especially when it results in severe injuries.

In such circumstances, insurance companies may approach you with a settlement offer, often tempting you to accept it quickly. However, it is wise to pause and carefully consider your options before making any decisions.

1. Unforeseen medical complications

Accepting the initial settlement offer might seem like a relief, but injuries can have long-term effects. Medical conditions may not fully manifest immediately, and unforeseen complications can arise during the recovery process. By hastily settling, you risk underestimating the true extent of your injuries and their potential impact on your future health and well-being.

2. Hidden costs and ongoing treatment

Severe injuries often require ongoing medical treatment, rehabilitation and therapy. The initial settlement offer may not account for these future expenses. By accepting it prematurely, you might find yourself burdened with unforeseen costs that arise as you continue to seek the necessary medical care for a full recovery.

3. Lost income and reduced earning capacity

Serious injuries can lead to a significant loss of income, either temporarily or permanently. Accepting the first settlement offer may not adequately compensate you for the income you already lost or the potential reduction in earning capacity.

4. Pain and suffering considerations

The emotional toll of a severe motor vehicle accident can be immense. Pain and suffering, both physical and emotional, are challenging to quantify immediately. The initial settlement offer may not adequately address the non-economic damages you’ve endured.

In 2022, 18,880 people sustained serious injuries due to motor vehicle accidents on Texas roads. Taking the time to assess the full scope of your injuries and their consequences can lead to a more equitable resolution that adequately addresses your needs and rights.