When the insurance company presents you with a settlement after an accident, it’s best to take a moment to pause and make sure you run the settlement past a Fort Lauderdale, FL, personal injury lawyer. Once you sign, you can’t “unsign,” or ask for anything more, so it’s important that the settlement fully cover your losses.
Key Questions to Ask Before Accepting an Insurance Settlement
Have I Reached Maximum Medical Improvement?
Maximum medical improvement (MMI) is the point at which your doctor determines that your condition has stabilized and further treatment is unlikely to bring meaningful improvement. Hopefully this means you’re fully healed, but, if not, it still means you can’t be expected to get any better.
Accepting an offer too soon could mean you miss out on compensation for additional procedures, therapy, or complications you’re going to need later. Get a clear written statement from your treating physician about your prognosis and any ongoing needs before you sign anything.
Does This Address Both My Past and Future Medical Expenses?
Add up every bill you have received so far, including for any hospital stays, all doctor visits, your physical therapy, all medications, and any equipment you had to buy for recovery or to adapt to a new disability caused by the accident. Then, you’ll need estimates from your medical providers for any care you will still require.
Insurance adjusters frequently underestimate long-term costs, and it’s often best to have your lawyer talk with a medical or vocational expert witness who can use their expertise in this area to properly calculate what your long-term costs are likely to be.
Does This Fully Repay You for Lost Income?
It’s not just the bills you’ve had to pay out: if the injury kept you from earning income at the same time, the settlement should replace those paychecks, including any overtime or bonuses you missed.
Has My Pain and Suffering Been Taken Into Account?
Do not overlook compensation you’re owed for pain and suffering or mental anguish caused by the injuries you’ve suffered. These damages cover the physical discomfort, emotional distress, loss of enjoyment of life, and limitations on daily activities you’ve had to endure, which no receipt can fully capture. Insurance companies love to minimize these damages or pretend they don’t exist at all.
Are There Any Deadlines I Need to Know About?
Confirm whether the settlement has any deadlines that could affect your options, and make sure you’re aware of the statute of limitations set by the state of Florida for bringing a personal injury lawsuit. The insurance company often tries to pressure you to settle quickly, and in those cases you need to slow down. But sometimes they drag things out, hoping you’ll go over the statute of limitations and miss your chance to bring a lawsuit. Once that happens, they have all the leverage. A lawyer will help you keep all this in order.
Take the time to ask these questions before you accept any offer. For help in evaluating your injury case, contact G. Reynolds Legal, PLLC in Pompano Beach for a free consultation in the Fort Lauderdale, Pompano Beach, and the entire South Florida area.
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