From broken bones, burns and internal injuries to traumatic damage to the brain or spine, even a relatively minor auto accident may involve weeks, months or years of recovery. In addition to forced time off work, you may be facing mounting medical bills.
New York is a no-fault state, which means that, even if your own negligence partially contributed to the collision, you may be able to receive compensation for injuries through your insurance company. Unfortunately, you may miss out on needed funds if you accept an adjuster’s initial offer.
1. Insurance adjusters are capable negotiators
Auto insurance companies provide a vital service, but they are also primarily business entities that may want to protect their profits. Before speaking with an adjuster, know that an agent may not have your interests in mind. If your injuries are severe, you may want to get legal counsel before accepting a settlement.
2. Initial offers are often low, by design
An agent may offer you a quick settlement after an injury. However, that may mean that he or she knows that your claim may be worth much more than the offer. You may want to wait to accept an amount until you have had a chance to do the math and determine how much you and your family will need.
3. The extent of your injuries may be worse than you realize
You may not know the full extent of your injuries until you are well into treatment, and even then, you may not have the full picture of your future medical needs. From prescription medications and follow-up visits to the potential for lifelong disability, know that your future health care expenses may be much greater than you initially anticipate.