Hundreds of car accidents happen every day in Minnesota. In 2015 alone, a total of 74,772 car crashes occurred, according to information from the Minnesota Department of Public Safety.
Some car crash cases are fairly straightforward because there are no injuries and minimal damage to the vehicles. However, in some cases, someone will experience a far more traumatic injury that could result in tens of thousands of dollars in medical expenses. In this instance, one of the most important things to remember during the settlement is to never take the insurance company's first offer.
It will be a lowball offer
The insurance company has an incentive to pay out as little as possible, so the first offer a victim receives will likely be low because the insurance reps think they can get away with it. Those who find themselves in this situation and accept the offer may not receive enough compensation to cover all the financial hardship caused by the collision. Depending on the extent of the injuries, injured victims may be better off rejecting the offer, which they can legally do. They can then present a counteroffer. Estimating future medical expenses, lost wages and emotional distress is a part of calculating a reasonable offer.
A person cannot sue after settling
The problem with many injuries after a car accident is that the victim will not know the full extent until much later. However, the insurance agency wants to settle now. In the event someone does settle, then he or she will likely sign away the right to sue the other driver or the insurance company down the line. Suing the other party may be the way to go in order to provide the money needed to fully recover.