Insurance companies continue to find new ways to pay less than what a person deserves when the victim sustains injuries through no fault of their own.
One tactic these companies use now is to send an insurance check to a claimant in the hopes they will cash it. Once the victim cashes the check, the insurance company doesn’t have to pay this individual any more money.
They argue the person agreed to the settlement amount when they cashed it. How can a victim ensure they get fair compensation for their injuries, and what should they do when they receive this check?
Why Would Insurance Companies Send This Check?
Insurance companies operate to make money. When they can get a victim of an accident to accept a lower amount, the insurance company wins.
To reduce the likelihood of a big payout, the company may send a settlement check immediately following the accident. The hope is that the victim will want to resolve the matter quickly before they realize the extent of their injuries or the full value of the damage to their property.
In most cases, once the victim cashes the check, the claim is resolved. When insurance sent you a check quickly, reach out to an attorney for advice.
What Might a Victim Be Entitled To?
Victims of an accident understand they will receive reimbursement for their medical expenses following an accident caused by another driver.
However, they may receive compensation for various other things. The insurance company will also cover any medical expenses related to their recovery, along with pain and suffering. The responsible party reimburses the victim for lost wages, damage to their vehicle, and a rental car.
Most people know about these expenses, but there are others that the victim may overlook. For example, if the victim must hire someone to come in and clean their home because their injuries prevent them from completing this essential task, the victim may request reimbursement for this expense.
Speak with an attorney to learn the full value of the claim before accepting any offer or cashing a settlement check to ensure adequate compensation to cover all expenses.
How Long Does it Take to Receive a Settlement Check?
Victims often want to know how long it will be before their settlement check arrives. Many factors play a role in the time needed to resolve the case. Insurance companies resolve most cases in a matter of months.
When the person only sustained minor injuries, the case takes little time to resolve. However, when there are catastrophic injuries, the victim needs time to learn the full extent of the injuries and how these injuries will affect their life over the long term.
This type of case may take years to complete. An attorney can be of help in determining when a settlement check may arrive.
Always talk with an attorney before cashing a settlement check. This ensures your rights are protected and the insurance company pays fair compensation. A person injured in an accident has more important matters to deal with, such as focusing on their recovery.
The attorney handles the settlement negotiations and other matters so the victim can do this. Speak to an attorney today to learn your rights and responsibilities when it comes to getting a settlement. They’ll work to ensure your interests remain protected.
