3 reasons you shouldn’t settle early a car accident claim in Van Zandt

Texas ranks second for the highest number of car accidents. Each year, over 3,000 people are killed and tens of thousands are injured in crashes on Texas roads. All these people and their families sustain huge financial losses, but recovering damages after a car accident is not as easy as it may seem. If it was a serious crash, it’s best to seek advice from experienced car accident lawyers in Van Zandt county before taking any action.

You may be hard-pressed for money, what with all the medical bills and you being off work, but settling quickly may prove to be a costly mistake. If the insurance company is making you a quick offer, it’s not that they want to help out, they just want to get rid of you with as little money as possible. 

Here are a few reasons why settling early may be bad for you.

You don’t know the true value of your car accident claim

If you were injured or you lost someone in a car accident you are entitled to be compensated for your economic and non-economic losses.

Don’t expect the insurance adjuster to explain to you what your rights are. They’ll tell you that your injury, say whiplash, is barely worth $5,000 and they couldn’t possibly give you more, whereas you may be entitled to five times as much.

If you want to know how much your claim is worth, talk to a seasoned lawyer first.

You may have additional expenses later on

When you’re injured in a car accident, the doctor will tell you that you’ll be back on your feet in a few weeks or maybe months. The problem is you don’t know that. Anything is possible. You may develop complications that will require additional surgery or another hospital stay. Who’s going to pay for that if you’ve already settled the claim? Who’s going to pay for rehabilitation therapy?

Another crucial factor is your regaining your ability to work. If you are left with some impairment or disability, you are entitled to compensation for your lost future earnings. You cannot go back in there and ask for more money once you sign settlement papers discharging them of any further obligations.

You may obtain more if you file a lawsuit

The amount of damages you can get depends on the other driver’s insurance coverage. If the driver that hit you has minimum coverage, that may not cover even your medical expenses, let alone your pain and suffering damages. Your Texas accident lawyers will investigate the guy’s financial situation and advise you whether you should sue. 

Also, if you are injured in a drunk-driving accident, you must sue the other driver to get punitive damages, on top of your compensatory damages

In Texas, punitive damages are calculated as twice the amount of your economic damages, plus an equal amount of non-economic damages, up to $750,000. If you sustained catastrophic injuries or the drunk driver’s conduct was particularly egregious, skilled accident lawyers will convince the jury that the punitive damages cap can be waived in your case and you may be awarded millions of dollars.