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5 Things to Know about an Auto Accident Settlement

If you have experienced a series injury after a car accident, an auto accident settlement can help provide you with money for household bills, medical expenses, and your home mortgage or rent. Here are a few things to be aware of before beginning the automobile accident claim process.

THERE ARE NO FLAT SETTLEMENT AMOUNTS

No two car accidents or injuries are the same, so the auto accident settlement will vary from case to case depending on the severity of injuries and the costs of related expenses.

YOU CAN NEGOTIATE YOUR AUTO SETTLEMENT

When you are negotiating an auto accident settlement with an insurance company, they will try to pay out as little as possible. If they offer you an amount that you are simply not comfortable with, it’s a good idea to hire a lawyer to help negotiate your auto accident settlement.

ALWAYS GO TO THE DOCTOR

Even if you feel fine after an accident, you should always go to the doctor to secure documentation for all your injuries, any medication that was prescribed, and additional relevant information about your accident. This also helps you document changes to your condition in the weeks following the accident — for example, a concussion graduating to more serious symptoms.

Documentation will also allow your lawyer to see how much you have been charged for medical bills, rehab, and prescriptions, which will make it easier to determine an appropriate auto accident settlement.

PERIODIC PAYMENTS

If you secure an auto accident settlement, the way in which it is paid can vary depending on the amount of money you receive. For large sums of settlement money, an insurance company can elect to pay you a set amount of money every year until the settlement is paid in full.

THE SETTLEMENT IS FINAL

While you negotiate your auto accident settlement, you should be aware that the process is completed once the negotiation process is finalized and all paperwork is signed. Once that final step is taken, you cannot go back and re-negotiate your auto accident settlement, so do not sign any paperwork if you are not happy with the settlement amount.

For a free consultation, contact Sloat & Nicholson at 1-800-873-3202.

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