Car Accident step by step process Part 5: Quick Settlements

You are driving down the street and someone backs into you.  Clearly their fault.  Each of you get out of your vehicle and exchange information, call the police for a police report and report it to your insurance companies.  




The next day (or maybe a couple of days but pretty quick):  Your phone rings and it's a representative of the other drivers insurance company.  Ahhhh they are calling to see if you are okay.  How nice of them.  You give them the details of what happened and they either offer to send an adjuster out to determine the damage to your vehicle or ask you to take it in and get several quotes because they want to make sure you are taken care of.  

A few days later you have the repair quote submitted to them.  They call you and offer you a settlement.  WOW, you have heard stories about insurance claims being difficult to get...it's not so hard and you didn't even need to hire an Attorney.  

BE CAREFUL!!  If an Insurance Company is offering you a quick settlement chances are they are trying to avoid what your accident is worth.  Many injuries from a car accident are not even apparent for a few weeks and if they can get you to "settle" on their initial settlement you may not be able to recover any future needs.  Don't gamble your money away.

So it's a week after your car accident.  You feel "okay" a little sore but you will live.  Your car is worth $10,000, you can replace it for $12,000 and they are offering you $15,000.  Wow, you can pay off your credit card, go on vacation, buy a better car with that "extra" $3,000 they are just "giving you."  Why do people say it's hard to get a settlement?  The truth:  because it is hard to get the Insurance Companies to do THE RIGHT THING!  They did not become a multi-billion dollar industry by doing the right thing.  They became a multi-billion dollar industry by doing the complete opposite.  Insurance: the necessary evil.  

When you are involved in a car accident you need to call a Personal Injury Attorney.  Unless you are seriously hurt make this your FIRST call.  Personal Injury Attorneys are experienced in fighting the insurance companies.  They have a list of Doctors that the insurance company already "accepts" and can help you through the process.  Once you hire an Attorney the insurance companies cannot call you.  

If you are thinking of taking the early settlement think about this:

• You accept $15,000 and didn't have to pay Attorney fees.
• Your claim was actually $100,000 before Attorney fees.
• Personal Injury Attorney's on average are 35% contingency fee.

Take $100,000 minus the Attorney's contingency fee of $35,000 would have totaled $65,000 and you took the quick settlement of $15,000.  That's one big $50,000 OOPS!!  Not to mention should any injuries develop later the medical bills will be at your cost.

It will cost you NOTHING to meet with a Personal Injury Attorney!  It may cost you A LOT not to! 

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Pueblo Office: 113 W. 12th Street  (Map it)

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The information provided here is not to be construed as legal advice.  Please consult an Attorney if you have any questions.  General questions about Colorado Personal Injury can be asked here and Carol Zeisler will gladly assist you in the proper direction for your situation.