Should I Just Settle My Car Accident Claim with the Insurance Company?

Dealing with car insurance after a car accident can be overwhelming. If you were injured in a car accident, call the car accident attorneys at Silverman, McDonald & Friedman today. We help clients throughout the state of Delaware as our offices are conveniently located in Wilmington, Newark, and Seaford.

Car accidents, unfortunately, are an all-too-common occurrence on our roads, impacting the lives of countless individuals. According to recent statistics, over 5.4 million car accidents resulted in injuries in 2021 alone. Even with Delaware being a relatively small state, there were still at least 558 people who sustained serious injuries from car accidents in the same year. These incidents often lead to physical harm, emotional distress, and financial strain on those involved. In the aftermath of a collision, individuals may find themselves grappling with medical bills, vehicle repairs, and other unexpected expenses.

It’s in this challenging context that insurance companies step in with settlement offers, providing what may seem like a lifeline to those dealing with the aftermath of a car accident. However, it’s important to note that the initial settlement offer from the insurance company should never be accepted.

Take caution against settling a car accident claim

Caution is important when contemplating a settlement, as hasty decisions can have long-lasting repercussions. While the immediate relief provided by a settlement may seem beneficial, individuals must be wary of the potential pitfalls. A cautionary approach is not an indictment of settlement itself, but rather an encouragement to approach it with a clear understanding of the full extent of damages and the long-term impact of the incident. Taking the time to carefully consider all aspects and seeking professional advice can significantly contribute to achieving a fair resolution in the wake of a car accident. In fact, it’s not a good idea to talk to the other person’s insurance at all.

The illusion of a good deal

After a car accident in Delaware, the idea of a quick settlement can be alluring. The apparent benefits of settling promptly often include the promise of quick financial relief, closure, and the avoidance of prolonged legal proceedings. Insurance companies present these settlement offers as a logical solution, seemingly addressing immediate concerns such as medical bills, vehicle repairs, and other pressing expenses.

However, it’s important to recognize that the initial appeal of these offers may conceal the complexities and long-term repercussions of the incident. Many individuals accepting early settlements may later discover that the compensation received was not nearly enough to cover ongoing medical treatments, rehabilitation, or unforeseen complications arising from the accident. The initial offer, while seemingly generous, often falls short of addressing the full extent of damages. This discrepancy becomes especially apparent as medical bills accumulate, and the true cost of recovery becomes clearer over time.

Insurance companies are only worried about themselves

Insurance providers, while serving a critical role in compensating policyholders, are ultimately businesses motivated by profit margins. Insurance companies’ profit-driven approach can influence the initial settlement offers extended to claimants. Unfortunately, you must be aware that insurance companies may try to minimize payouts, leading to offers that may not adequately cover the true costs of the accident. Recognizing this profit motive highlights the necessity of approaching settlements with a careful and informed perspective, often with the assistance of an experienced car accident attorney.

Determining the cost of your injuries after a car accident in Delaware

When evaluating the impact of injuries sustained in a Delaware car accident, you must consider a range of factors that extend beyond immediate medical concerns. Many accident victims actually underestimate the long-term consequences which lead to inadequate compensation. Assessing the true value of injuries involves a nuanced examination of factors such as:

• Nature and extent of physical harm
• Emotional distress
• Potential impact on the victim’s quality of life

Beyond visible injuries, the psychological toll and the potential for future complications must also be considered.

Medical expenses, ongoing treatments, and potential future costs are all elements that contribute to the overall value of a claim. A 2019 study found that from the 36,500 people killed and 4.5 million injured in car accidents, the economic cost totaled more than $340 billion after factoring in things like lost productivity, medical, legal and court costs, emergency services, property damage, workplace losses, and more. Additionally, once quality of life was factored in, that number skyrocketed to $1.4 trillion, which only emphasizes the importance of factoring in not just immediate expenses but also those that may accrue or appear over an extended period.

Settling early comes with its disadvantages

Opting for an early settlement means closing the door on the possibility of discovering hidden injuries that may not be immediately apparent. Some injuries may manifest or worsen over time, and a rushed settlement may inadvertently prevent individuals from seeking compensation for unforeseen medical complications. It’s very common for the full extent of injuries and their impact on a victim’s life to become apparent only after a thorough assessment and time for recovery. A premature settlement may undervalue these consequences, leaving individuals without adequate compensation for future challenges. Plus, as medical treatments evolve and unforeseen complications arise, the immediate relief provided by a settlement might prove insufficient to cover ongoing and future expenses.

How should I handle negotiations with an insurance company after a Delaware car accident?

Securing fair compensation after a car accident relies on the expertise of a skilled Delaware car accident attorney who understands the nuances of injury assessments and negotiations with insurance companies. During negotiations, the seasoned attorney brings a crucial skill set to the table, ensuring that all relevant factors, from immediate medical expenses to potential future costs, are considered. This is crucial in achieving a settlement that aligns with the actual costs and consequences of the injuries sustained in the car accident. In essence, the presence of an experienced car accident attorney is vital for protecting yourself and securing the rightful compensation.

At Silverman, McDonald, & Friedman, our team of car accident attorneys in Delaware specializes in helping with negotiations, managing the claims process, and handling insurance appeals. Don’t fight a case like this on your own. To discuss your case, reach out to our office by calling or filling out our contact form to arrange a complimentary consultation. Conveniently located in Wilmington, Newark, and Seaford, our offices are ready to assist you.