Tip # 1: Remember the “Golden Rule” of Personal Injury Claims
Maximize Your Recovery to Make Sure that You Receive all the Compensation You Are Entitled To
If you have been injured in an accident, it is crucial to remember the “Golden Rule” of personal injury claims. Remember that the goal of the insurance company is to try to settle your claim for as little as possible. Your goal is to maximize your recovery to make sure that you receive all the compensation you are entitled to receive. If you break the golden rule, you run the risk of giving the insurance companies what they want – which is a chance to settle your claim without all of the facts for the minimum amount possible.
So, what is the “Golden Rule”? Always remember this:
You should never settle your claim until (i) you’ve totally recovered from your injuries, or (ii) your doctor tells you that you are never going to fully recover.
Think about it this way, you are being compensated for the pain, suffering and inconveniences you have had to deal with up to the time you settle your claim. If you settle your claim too soon, you will likely end up leaving a significant amount of money on the table if your injuries don’t fully recover. This is money that not only stays in the insurance companies’ coffers, but money that should have been yours to help cover your medical expenses, lost wages, pain and suffering, and other losses.
Once You Settle, Your Case is Over
When you enter into a settlement with the insurance company, you will be required to sign a Release of Claim form. This is a legally-binding document that says that you are agreeing not to seek any additional compensation. There are no second chances. If you settle before you know what the future holds, you will be forced to live with the settlement amount you agreed to accept when you signed the Release of Claim.
Can’t You Still Sue the Person Who was Responsible?
After all, the piece of paper you signed was with the insurance company, not the driver or other responsible party. The answer is, “no.” The Release of Claim form says that you will not sue anyone for the physical, financial, and emotional harm caused by your injuries.
But, What if I Need Money Now?
If you are worried about how you are going to pay your medical bills, get your car fixed, or pay your rent or mortgage if you are unable to go to work, you are not alone. These are common concerns among all of our clients. There are options available, and it is important not to let focusing the short-term leave you unable to cover your expenses for years to come down the road. When you contact us for a free consultation, we will help you understand your situation and feel reassured that you are making the right decision by waiting to settle your case for maximum value.
McKiggan Hebert Lawyers | Halifax, Nova Scotia Personal Injury Lawyers
So, if you have been injured in an accident, remember the Golden Rule: Never settle until you know what the future holds. For more information or to get started with your claim for maximum compensation, schedule your free consultation at McKiggan Hebert Lawyers today.