The simple answer is no. However, depending on injuries, the amount of coverage, any Subrogation claims from medical providers, etc. the "generous" offer may not be that generous. You should consult with a personal injury attorney. Insurance companies aren't known for doing the right thing.
No, you don't have to take the first offer. As Kevin recommended, I would make sure you are 100% healed up before you accept any offer from the insurance company. Often times, they will come in at the beginning of the claim and offer you a settlement before you even know the true extent of your injuries. As Daniel mentioned, you also need to consider any subrogation interest that may be out there before you even consider accepting an offer from the insurance company. For example, if your health insurance company paid for your treatment, then they may be entitled to "subrogation" (ie. reimbursement from any money you receive from the responsible party). I would encourage you to consult with a personal injury attorney regarding your best course of action. Most personal injury attorneys will offer you a free initial consultation to discuss your rights and best course of action. When someone calls me and they have a good offer based on the facts of their claim, then I advise them to take the offer. I would find a lawyer that will give you an honest assessment prior to settling your claim. Remember the insurance company is looking out for their bottom line--not for you.
In addition to being an attorney I am a volunteer EMT/Firefighter First Responder. My father is a doctor and professor of medicine. My wife is a R.N. We always tell our clients to wait at least a few months to make sure they are feeling 100% before considering accepting or making any settlement offer. I think it wise to have an attorney repr4esent you unless your injuries were minor.
If this information has been helpful, please indicate below. I hope my information is helpful to you. If you think... more
If this information has been helpful, please indicate below. I hope my information is helpful to you. If you think this post was a good answer, please click the "Good Answer" button below and/or designate my answer as the "BEST ANSWER". Thanks.
This is a general response to a question for basic information and is not legal advice. Legal advice can only be given when all of the facts of your situation are discussed with a lawyer, which we have not done.. If you reside outside the State of Texas please understand that the laws may be different from the laws that I may cite in a my comment. This comment is not to be construed as legal advice to your particular situation because there are many factors that influence legal counseling- this is simply a comment. Response to an email does not create an attorney-client relationship between you and the Law Offices of Kevin R. Madison, P.C., nor any of its attorneys. If you send us an e-mail, or call us, and we do not already represent you, neither your e-mail inquiry nor telephone call will create an attorney-client relationship. E-mails cannot necessarily be treated as privileged or confidential. Only entering into a written legal services contract with the Law Offices of Kevin R. Madison, P.C. will create an attorney-client relationship. There is no substitute for one-on-one legal advice and you are urged to meet with an attorney and discuss your case, personally, with an attorney in the state in which you reside or your case occurred. Thank you. Kevin R. Madison. Visit our website at www.kevinmadison.com and www.texassexualharassmentattorney.com. Kevin Madison, Austin, Texas- representing injured persons in motor vehicle collision, truck and motorcucle accidents and representing victims of sexual harassment, sexual assault, sexual abuse, physical assaults, and representing victims of sexual exploitation committed by doctors, therapists, psychologists, psychiatrists, clergy, counselors, priests, and rabbis. Visit our sexual harassment/sexual exploitation blog at http://texassexualharassmentattorney.com/blog/
In fact, a common tactic by insurance companies is to offer fast settlements in hopes you do not hire an attorney. Once you accept the settlement and sign the Release, you can't come back for more money.