After an accident, an insurance representative may quickly call you to offer “help” with medical bills, car repairs, or lost income in exchange for a settlement.
Why? A maxim of insurance claim management (as relayed to me by a high-level claim manager) is: “The value of legitimate, worthy claims, generally increases with time”.
Time provides a claimant with opportunity to better substantiate claims, especially future medical care. Other damages such as income loss also commonly increase with time.
Insurers strongly desire resolution while damages are the lowest, at the start of the claim. Insurers most certainly desire resolution before the claimant hires a qualified injury law firm, such as Rizk Law.
Hiring Rizk Law implicitly projects the possibility that “one day” the insurer may be required to answer to a jury.
It’s no coincidence and no surprise then, that after an accident injury, the person harmed may receive a call, text or email from the insurer for the party at fault. Said insurers may offer to pay for some bills and car repairs. What the insurer won’t offer is fair value for future losses or fair value for pain and suffering.
Insurers are driven by profit, not care for people hurt in an accident, especially not folks who did not pay its premiums.
After a liability settlement release is signed, the claim is over except in very limited circumstances.
Why You Should Never Endorse an Insurance Check Without Legal Advice
Should you receive an unsolicited insurance check, do not endorse or deposit it before knowing exactly what is released.
Endorsing or cashing a settlement check may extinguish one or more of your claims so carefully read both sides of any settlement check and any cover letter accompanying the payment.
In short, should the opposing insurance company offer you a settlement shortly after an accident, pause, think and carefully consider before accepting. Better yet, speak with a qualified personal injury lawyer about the proposal before accepting or declining.
Should you choose Rizk Law, our team will:
- Conduct a full evaluation of your injuries and future medical needs;
- Handle all communication and negotiations with insurers and opposing lawyers;
- Encourage insurers to pay medical bills, property damage and wage loss claim;
- Determine the true value of your claim,; and
- Be prepared to take your cases to litigation should fair compensation not be offered.
Insurance companies seek to expedite the process. Rizk Law works to make your claim right.
