By Adam B. Lawler | May 6, 2024

How Long Do You Have to Accept a Settlement Offer?

How Long Do You Have to Accept a Settlement Offer?
How Long Do You Have to Accept a Settlement Offer

If you've suffered an accidental injury and filed a personal injury claim, an insurance company might have offered to pay a settlement. You may not know whether to accept and wondering how long you have to accept this settlement offer. The timing of your decision can have significant implications for your case.

Most importantly, never accept a settlement offer without first discussing the matter with a personal injury attorney.

You can always inform insurance companies that you will consider the offer with a lawyer, and you will get back to them in due time. This is an acceptable response to a settlement offer, and you will not lose your right to the settlement by responding this way.

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Why You Might Receive a Quick Settlement Offer After a Personal Injury

After a personal injury incident, you may receive a quick settlement offer from the insurance company. You might wonder why they are rushing to offer a settlement so soon. While it might seem like a generous gesture, you must understand the motivations behind these early settlement offers and why you should never rush to accept them.

Insurance companies make early settlement offers to protect their bottom line. By offering a quick settlement, they can resolve your case before you have a chance to fully understand the extent of your injuries and the potential long-term consequences.

Receiving Quick Settlement Offer

They hope that by enticing you with a sum of money, you will accept the offer and waive your right to pursue further legal action.

Another reason for these early settlement offers is to avoid the escalating costs of litigation. Going to court can be a lengthy and expensive process involving legal fees, expert testimony, and court expenses.

Insurance companies understand this and may try to save money by resolving the case quickly and without further legal proceedings.

When an insurer makes a fast offer, they assume you do not have legal representation yet. They hope you will accept a low offer without considering the full effects of your injuries and the total amount of your losses.

While these early settlement offers might seem tempting, remember that they are often lowball offers. Insurance companies are looking out for their own interests, not yours.

Accepting an early settlement without consulting a personal injury attorney will usually leave you under-compensated, especially if you discover later that your injuries are more severe than initially thought or if there are long-term consequences that were initially overlooked.

To ensure that you receive fair and just compensation for your injuries, consult a personal injury attorney before accepting any offers.

An experienced attorney will review your case, assess the true value of your claim, and negotiate with the insurance company on your behalf. They will fight to protect your rights and ensure you receive the compensation you deserve.

Remember, the choice is yours. Don't let the appeal of a quick settlement offer cloud your judgment. Consult a trusted attorney who can guide you through the legal process and ensure you make an informed decision in your best interest.

Finishing Your Treatment or Reaching Maximum Medical Improvement Before Accepting an Injury Settlement Offer

Keeping Medical Records for Insurance Claim

You might feel pressure to accept a settlement offer quickly, but certain things should happen before you do. First, hire your personal injury lawyer. Another factor to consider before accepting a settlement offer is whether you have finished your medical treatment or reached maximum medical improvement (MMI).

Reaching MMI means that you have completed all necessary medical treatments and therapies, and your condition is not expected to improve further. This is an important milestone in your recovery process, as it allows both you and your attorney to accurately assess the full extent of your injuries and the long-term impact they may have on your life.

Accepting a settlement offer before reaching MMI can be risky. Accepting an offer too early may not account for future medical expenses or ongoing treatment that you may require.

Always prioritize your health and ensure you clearly understand your prognosis before considering any settlement offers.

By waiting until you have reached MMI, you allow yourself and your attorney to gather all necessary medical documentation, such as medical records, bills, and expert opinions.

This comprehensive information allows for a more accurate assessment of your damages, ensuring that any settlement offer received considers the full extent of your injuries and the associated expenses.

Additionally, reaching MMI gives you the advantage of understanding the long-term impact of your injuries on your daily life. It may take time to fully understand how your injuries will affect your ability to work, engage in certain activities, or enjoy a certain quality of life.

When considering personal injury settlements, it's important to be patient and not rush into accepting an offer. Working alongside an experienced attorney will ensure you have the guidance and support necessary to make informed decisions regarding your settlement.

Remember, your attorney protects your best interests and ensures you receive fair compensation for your injuries and losses.

Waiting until you have finished your treatment or reached maximum medical improvement is always advisable before accepting an injury settlement offer.

Achieving MMI allows for a thorough assessment of your injuries and their long-term impact, ensuring that any settlement offer received adequately compensates you for your damages. Work closely with your attorney to navigate through this process and secure the best possible outcome for your case.

Consult a Personal Injury Attorney Now

Before you speak with insurance companies following an accidental injury, speak with a personal injury lawyer first. They will advise you on the potential timeline for your claim to ensure you never feel rushed to accept a settlement offer that is much lower than you deserve.

Consultations are free, so schedule yours today. Your personal injury lawyer will handle all communications and negotiations with insurance companies, so you never have to worry about missing a window for accepting settlement offers or filing injury lawsuits.

Adam B. Lawler

Attorney at Law / Partner

Adam Lawler is the founder of Lawler Brown. Adam is a 2004 graduate of Saint Louis University School of Law. Adam worked for a local firm until founding the Lawler Brown in 2009. Adam’s practice areas focus in Personal Injury, Business, Real Estate, Probate/Trust/Estate Administration and general litigation.

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