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Should You Accept a Personal Injury Settlement Offer and Sign a Release Agreement from the Insurance Company?

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If you were injured in an accident and filed a claim for compensation, you have probably met a claims adjuster from the at-fault party’s insurance company. Because of your needs, you may want to accept a settlement offer from the insurance company and decide to sign a release agreement. However, you may sign the paper without reading it or giving it a second thought. The sad news is that if you suffer another injury or additional symptoms that did not appear before, you could not file a claim for more compensation to cover your medical expenses and other damages. Signing the release form waives your right to sue or bring any additional claim over your accident and injury. That is why you must speak with a personal injury lawyer los angeles before you sign anything. 

Accepting the Settlement Offer from the Insurance Adjuster

To reach a fair settlement agreement, both parties need to compromise. When you meet with an adjuster, you probably knew already that you may settle your claim for less than your original compensation demand. But, you should still consider some things before you accept the settlement offer. For instance, you should consider if the amount would cover all your medical costs, whether you will need future medical care, and whether or not you are comfortable with the proposed settlement. Once you agree on a settlement amount and feel ready to finalize your claim, you are just a few steps away from completing the injury claim process and getting compensation. 

Does the Settlement Offer Cover All Your Damages?

Damages in persona injury cases can be hard to calculate and you want a settlement that covers all of your damages. However, insurance companies may try to settle quickly before you can fully comprehend the scope of your damages. A simple headache can seem a minor issue but it can indicate more serious neurological damage than you or your treating physician originally thought. By signing a release before you or your doctor fully understands your condition, you could be stuck with mounting medical bills and lost wages because you need to seek more treatment. 

Whether you should sign a release or not depends on the circumstances of your case. If the accident caused minimal damages that have been known and accounted for and you get a settlement amount that exceeds these damages, you may want to take the settlement and sign the release form. An experienced personal injury attorney can help you make better decisions. 

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