What Should I Do If the Insurance Company Offers Me a Check Right Away?
After a serious accident, it’s common for most people to suffer from a variety of physical injuries and emotional traumas. Unfortunately, few people realize or anticipate the severe stress and anxiety that can come from stacking medical bills and vehicle repairs.
In fact, the at-fault insurance company is counting on you to take the first settlement you receive and will often mail you a check before any negotiations have taken place. It’s imperative you contact an experienced accident attorney before you sign or deposit anything. Once an insurance check is negotiated, you wave your rights to any further compensation even if something accident related arises.
The experts at Edelstein Law recommend you file any checks received along with all accident related documents and call one of their experienced Philadelphia car accident lawyers right away. They can help you get the compensation you deserve and make sure you aren’t being taken advantage of.
Cashing the Check May Waive Your Right to Further Compensation
Every check issued from an insurance company contains a legal clause that states –upon negotiation, you waive the right to pursue further legal action and compensation. While it’s understandable to want to act quickly and get money in your pocket, you’re likely eligible for more money than you realize.
At the end of the day, insurance companies are a business with their own interests in mind. And like any other business, insurance companies want to retain as much of their own money as possible. One of the ways they do this is by offering the bare minimum settlement. If you’ve received a check unexpectedly, likely the insurance company is attempting to get you to accept far less than you deserve and prevent aggressive and experienced lawyers from getting involved.
Once you’ve cashed or deposited an insurance check, any further damages or injuries that may come up will not be eligible for compensation.
You May Be Entitled to More Than the Check is For
If a proper investigation hasn’t taken place and the insurance company has already issued you a check, first and foremost, this is a red flag. We recommend reaching out to an experienced lawyer right away to have them review your case and help you with your next steps.
Depending on the severity of the accident, you may not know the extent of your injuries or the damages to your vehicle. It’s not uncommon for these issues to take weeks or months to be resolved. There’s also a chance the adjuster who’s assigned to your claim doesn’t have all the facts. More than likely, they don’t know how the accident has impacted and disrupted your daily life such as loss of income, and pain and suffering.
If you cash an insurance check before all the facts and figures have been established, you could lose out on money you’re entitled to. Money you deserve and will need to get back on your feet.
How An Accident Lawyer Can Help You Get The Compensation You Deserve
Don’t let the insurance companies take advantage of you. A serious accident can change your life forever and you deserve to be compensated. If you receive a check in the mail, we recommend you:
Do not sign or negotiate the check
File all the accident related documents
Contact an accident lawyer immediately
If you or someone you love feels you deserve more compensation than what you were offered, or if you negotiated an insurance check without understanding the consequences, we encourage you to contact our Philadelphia car accident lawyers.
The attorneys at the Law Offices of Jay L. Edelstein will evaluate your accident claim and get you the total compensation you deserve. We are sensitive to and understand that these are difficult and stressful times. Let our Philadelphia accident lawyers help you.
Our office is conveniently located in Center City Philadelphia allowing us to easily represent clients in both Pennsylvania and New Jersey. Call us today at 215-893-9311 or 856-809-3150 to schedule a free consultation with a qualified and trustworthy Philadelphia car accident lawyer or contact us online.