A settlement offer can feel like a welcome relief after a car accident, especially when medical bills, missed work and other expenses have started to pile up. Still, accepting an offer can affect your ability to seek additional compensation later. You may have questions about whether the amount accounts for your losses and what accepting it could mean for your claim.
Here are some questions you should ask while reviewing the offer with your attorney.
Does the settlement cover all of your losses?
The amount should account for the losses you can reasonably expect from the crash, not just the bills you have received so far. Consider expenses such as:
- Medical treatment and related costs
- Lost income from missed work
- Vehicle damage and other property losses
Your attorney can also help you consider ones that might not appear on a bill, such as pain and limitations caused by your injuries.
Have you reached a clear point in my medical treatment?
You should understand the extent of your injuries before accepting an offer because some conditions require ongoing care or take time to fully develop. Your doctor can also help you understand your expected recovery and whether you might need additional treatment. If you settle too early, you could face future treatment costs that the agreement does not cover.
What expenses or obligations will come out of the settlement?
The amount offered does not necessarily equal the amount you will receive. Medical bills, insurance reimbursement claims or other obligations could affect what remains after the claim settles. Ask your attorney to review these amounts so you understand the financial result before signing.
What are you giving up by accepting the offer?
A settlement generally requires you to release claims covered by the agreement, which could prevent you from seeking more compensation later. Maryland law provides limited protections for certain releases signed shortly after an injury without an attorney’s guidance, but you should not rely on those protections instead of reviewing the release before signing.
What happens if you reject the settlement?
Rejecting an offer does not necessarily mean your case must go to trial. Negotiations can continue, and your attorney can explain whether pursuing further negotiations or litigation makes sense based on your circumstances. You ultimately decide whether to accept or reject a settlement offer.
Protect your right to compensation after the accident
A settlement decision involves more than looking at the dollar amount offered. Before deciding how to proceed, discuss the offer, release and any unresolved losses with your attorney so you understand your options and what each one could mean for your ability to seek compensation. Your attorney can also explain what steps would follow based on the decision you choose to make.
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