Should I settle my personal injury claim early?
One of the questions that we regularly get asked by our clients is whether or not they should accept an early offer of settlement when they are approached by an insurance company shortly after their accident.
Generally speaking we discourage them from accepting these offers and there are a number of reasons for this.
First of all it, is highly likely that your injuries won’t have settled and you don’t know what the future will hold. If you accept a sum now then this is in full and final settlement for all time into the future, so that if you find yourself deteriorating or needing further medical attention that you didn’t expect when you accepted the offer you can’t go back to the insurance company looking for more money.
You should also bear in mind that there was a report issued independently by the Central Bank in 2011 which found that people who went on to make an Injuries Board application got more on assessment than those who accepted early offers from insurance companies.
So these offers are made for a reason and that is to save the insurance company money.
If you have got any questions about this or any other aspect of your personal injuries claim please feel free to give us a call on 1800 390 555.