It's not unusual for people and their families to be financially strained following a major personal injury event. Even if the person who was hurt was covered by insurance, there will almost certainly be large medical fees to pay. And if the injured person was the family's principal breadwinner and is now unemployed, the family will be even more stressed since there may not be enough money coming in to handle basic bills, let alone accident-related expenses.
Insurance firms are fully aware of the difficulties faced by wounded people and their families. In fact, they occasionally try to take advantage of these conflicts by employing a practice known as the "drop check."
The drop check method is founded on the premise that when people are in financial distress, they are more inclined to accept the first settlement offer they get, even if it is grossly inadequate and/or unjust. This is especially true if the offer has already been written up as a cheque that you want to cash.
Allowing the drop check strategy to limit your compensation is a bad idea
The insurance company intends to save money at your cost by dropping a check soon. Allowing them to get away with it is not an option! Following are some pointers to avoid being taken advantage of following a major personal injury accident.
Always speak with an attorney
If you have been hurt as a result of someone else's negligence, you should speak with an attorney as soon as possible. Your lawyer can help you determine the merits of your case and the possible worth of your damages. With this knowledge, you'll be better equipped to assess potential settlement offers and avoid accepting an unjust one. Your lawyer may also assist you in being proactive in filing your claim with the insurance company and initiating settlement talks.
Make sure you have a diagnosis
If you haven't seen the appropriate medical professionals to have your injuries diagnosed and recorded, you may be unaware of the full degree of your injuries or the expense of future treatment. This allows insurance firms to rush in with a seemingly decent but actually too cheap settlement offer. Never accept a settlement unless you are confident that you understand all of your injuries and have a fair estimate of future care costs.
Explore funding options
If you're in such a tight financial situation that a settlement of any amount seems appealing, be sure you've looked into all of your options for making ends meet while you wait for a better deal. If you have a really strong case and are almost certain to receive compensation, a litigation finance advance may be suitable.
For assistance, contact The Law Offices of Larry H. Parker. We can help you collect the compensation you need and deserve after a personal injury accident, whether or not you have previously received a settlement offer. For a free first consultation with an experienced Phoenix personal injury attorney, call 602-340-0030 right now.