If you have suffered an injury in an accident, a fast insurance settlement can feel like a relief. But did you know that there are risks of accepting a settlement too soon? Saying ‘yes’ early can cost you some of your legal rights. And once you give up those rights, you can’t get them back.
Below, this personal injury lawyer in Mulberry, Florida is going to explain some of the most important rights you may lose if you accept an insurance settlement too soon.
You will not be able to ask for more compensation in the future.
When you accept a settlement, the insurance company usually asks you to sign a release form. This form permanently closes your case. Once you sign it, the insurance company no longer owes you anything.
You cannot ask for more money in the future. If your injuries get worse, those costs will be your responsibility.
There is also the matter of time. Florida law generally gives injured people 2 years from the date of an accident to file a lawsuit. When you settle early, your case ends immediately. You lose the option to wait and see how your condition changes. And of course, you also give up the right to file a lawsuit entirely.
Your settlement may only cover early treatment.
Some injuries take time to fully show their symptoms. You may feel fine immediately after the accident, but then experience pain or other symptoms weeks, even months, later. If you settle too early, your settlement may only cover your first few medical visits and not the treatment you need in the future.
Florida’s personal injury protection law only provides limited benefits. Any extra medical costs usually depend on a claim against the other driver. If you already settled that claim, you cannot receive any more help.
Your non-physical injuries may not be compensated.
You may only focus on your physical pain at first. But you will probably start experiencing the emotional effects of the accident soon. If the emotional toll goes on for too long, you could even have trouble sleeping or experience anxiety issues.
If you settle before you experience any real pain and suffering, your claim will not include those damages. So, the insurance company will not pay for them later.
Florida law also limits pain and suffering claims and only serious injuries qualify for compensation. If you settle too early, you may not have enough medical proof to prove how serious your injury is.
You could be stuck with the insurance company’s fault ruling.
Insurance companies generally determine fault without wasting much time. In fact, the insurance company can make this decision before it knows all the facts.
Florida follows a modified comparative negligence rule. Per this rule, your compensation depends on your share of fault in an accident. If you are more than 50% at fault, you cannot recover any compensation.
When you accept a settlement, you also accept the insurance company’s version of what happened. And you give up the right to challenge that version later. This is where an experienced personal injury lawyer in Mulberry, Florida can be useful. They can review any fault issues before you settle.
You lose the chance to dispute unfair conduct.
Insurance companies can sometimes ignore evidence or offer a settlement that is much lower than what your claim is worth. Florida law allows injured people to challenge this behavior.
But if you accept a settlement, you may no longer have that right. The settlement will likely protect the insurance company from any future claim of alleged unfair conduct. Your personal injury lawyer in Mulberry, Florida can identify these problems before you sign the settlement.
Looking for a personal injury lawyer in Mulberry, Florida?
Accepting a settlement is a decision that can affect your future health and finances. You don’t want to take any wrong steps here. If you are thinking about accepting a settlement, we strongly recommend that you first talk to an experienced personal injury lawyer in Mulberry, Florida. Tonya Stewart and her legal team will review your case and explain what rights you may be giving up. Contact us today at (863) 279-4473 to discuss your situation.