Should You Accept a Settlement Before Finishing Medical Treatment?
After an accident, it is understandable to want closure as soon as possible and to move on with life. Insurance companies know this and often take advantage of it by encouraging victims to settle early. Soon after your accident, you may be contacted by the insurance company with a settlement offer. This might even happen before you have finished your medical treatment. However, while it can be tempting to accept an early settlement offer, a vital thing to keep in mind is that agreeing to a settlement before completing your medical treatment can have serious consequences. Before you say yes, it is crucial to understand how early settlement offers work and what you might be giving up.
Once You Settle, the Case Is Closed
Accepting a settlement offer from an insurance company prevents you from seeking additional compensation for the same incident and injury. Once you take the offer, your case is permanently closed, and you generally cannot reopen it later to claim additional compensation if your injuries worsen or if new medical issues arise. Insurance companies know this, and sometimes, they try to settle quickly to save money at the expense of the claimant. Some insurance adjusters even try to lock in a low settlement over a phone call, even when no paperwork has been signed or money has been exchanged.
Why Completing Medical Treatment Is Crucial
It’s not advisable to accept a settlement offer from an insurance company before finishing medical treatment. If you are still receiving treatment, your doctors may not yet have a complete understanding of the severity of your injuries. You might need ongoing medical treatment, such as surgery, physical therapy, or long-term rehabilitation. These future medical costs should be factored into any settlement, but they can be challenging to estimate while treatment is ongoing.
Other damages, such as lost income, pain and suffering, and permanent limitations, also need to be factored into the settlement. Usually, these damages increase or get worse as treatment continues. Accepting a settlement too early can mean losing out on compensation you might rightfully deserve.
Maximum Medical Improvement (MMI)
In personal injury cases, it is advisable to wait until your condition reaches Maximum Medical Improvement (MMI) before settling. This is the stage where your condition has become stable, and additional treatment is unlikely to lead to significant health improvements.
Once you reach MMI, your doctor can better predict ongoing care requirements, estimate future medical costs, and assess any permanent limitations caused by the accident. Settling your case before reaching MMI can make it hard to evaluate the total value of your claim accurately.
How an Attorney Can Help
A skilled Florida personal injury attorney can work with your healthcare provider to understand your long-term prognosis, ensure future medical costs are accounted for in the settlement, evaluate lost wages, pain and suffering, permanent impairment, and negotiate with the insurance company to protect your rights. An attorney can help you avoid costly mistakes.
Contact Us for Legal Help
Before signing a settlement agreement, contact our Orlando personal injury attorneys at The Pendas Law Firm for help ensuring the settlement reflects the full impact of your injuries.
The Pendas Law Firm also represents clients in the Ocala, Miami, Tampa, Jacksonville, Bradenton, Daytona Beach, Fort Myers, Fort Lauderdale, West Palm Beach, Naples, and Melbourne areas.