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Should I Settle My Car Accident Claim?

On Behalf of | May 2, 2019 | Motor Vehicle Accidents |

The process of a car accident claim can take quite some time and during this time, medical expenses and other costs tend to pile up. This is exactly what the insurance company is hoping will happen, and it’s their hope that you will be more willing to settle the claim because you need the money.

When it comes to the decision people need to make regarding accepting a settlement, there are a number of things that need to be considered. Our car accident attorneys can help you understand if settlement is best for you, or if you should consider moving forward to trial.

Is the Settlement Offer Adequate?

You want to ensure that your settlement offer is adequate enough to cover the expenses stemming from the injuries and damage. There are times when the insurance company will offer a lower amount than needed in hopes you will take less and it will save them some money.

If you and your legal team feel as though the settlement is enough to cover the losses you’ve experienced, you may decide to accept it and avoid moving further in the case. If it’s not adequate enough, you can counter the offer or deny it completely.

Settling a Claim Forfeits Further Legal Action

It’s extremely important to know that should you accept the settlement offer, that you are essentially forfeiting your right to pursue further legal action. You are accepting the settlement in lieu of pursuing a lawsuit—which should mean the settlement amount covered your losses.

If you want to leave your options open and protect your rights to legal action, you shouldn’t accept the settlement. In fact, you shouldn’t accept a settlement without first discussing the offer with your legal team.

For many, pursuing legal action is not only about compensation. It’s more than that—it’s about creating change by pursuing justice and holding the negligent party accountable. Settlements don’t always allow for this and there are times when a trial is more effective.

At Templeton Smithee Hayes Heinrich & Russell, LLP, we want to help you pursue the maximum compensation you deserve. Whether through settlement or trial, you should be able to cover the costs associated with the losses, and it’s our primary focus to help you every step of the way.

Call our firm today. We represent car accident victims in the Texas panhandle and all throughout eastern New Mexico.