Should I accept an insurance settlement right away?

After a vehicle accident, individuals may receive compensation for their injuries and the damages done to their vehicles. When a motorist files a claim for compensation, the insurance company may assess the damages and offer a settlement on the claim. However, the victim of a vehicle accident should not accept an insurance settlement right away.

Every insurance policy does not have the same terms. The insurance policy may have high policy limits that can compensate the medical bills and pain and suffering. Some insurance policies contain coverage for specific property damages and injuries. Other policies may specifically prohibit the coverage of certain damages.

It is best to hire an attorney that has experience with the insurance claims process. The settlement amount from the insurance company may not take into account medical bills, lost wages or funeral expenses. Once a person accepts the settlement, they generally agree to give up any right to sue for any further compensation in the future.

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