No. If the other driver’s insurance company says they can send you a check, we do not advise you to accept it. Unless you are absolutely certain that the negotiations with the insurance company will completely cover all of your medical bills, lost wages, car repair, and pain and suffering due to someone else’s negligence, you should not accept or cash a check from the other driver’s insurance company.
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Insurance Company Checks
If you were in a car accident due to the negligence of another driver, you will likely be visiting with them regarding a settlement payment that can cover everything from your car repair to medical bills and lost wages. Insurance companies want to offer you as little as possible to compensate you for your losses.
Once you cash a check from an insurance company, you have agreed to their offer for compensation and there is very little chance of you ever receiving any additional monetary recoveries for your injuries, lost wages, or vehicle damage. While it may seem tempting to cash the driver’s insurance company’s check to pay for your current medical bills or your car repair, you may have more medical bills in the future, or have future lost wages. If you make the decision to accept the check from the other driver’s insurance company and cash it, you will likely not receive any more compensation from them related to the car accident.
Typically, Orlando car accident victims accept the first offer from an insurance company because they either think that they have been paid in full due to not understanding the full monetary scope of their loss, or they know the payment is not fair, but do not want to continue the adversarial fight with an insurance company.
Never Accept the First Settlement Offer
The first offer that most insurance companies offer is typically extremely low. This offer begins a negotiation process between the victim and the insurance company. If you were in a car accident, you should consider the full range of all of your injuries. Medical issues may become more complicated over time, or not even appear for weeks. Ancillary expenses should also be considered such as the cost of renting a vehicle while yours is being repaired, lost wages, the diminished value of your own vehicle, pain and suffering, and any other damages related to your car accident. Accepting the first offer from the driver’s insurance company will likely not cover all these expenses. A careful examination of all expenses should be done for expenses already incurred, and future expected expenses as well.
When You Should Accept the Other Driver’s Insurance Company Check
From the beginning of the accident and the written report of a car accident mandated by FL § 316.066 to the medical visits to car repair, and pain and suffering, being the victim of a car accident can be a painful and expensive process.
While you should never accept the first check that the other driver’s insurance company offers, after a careful evaluation, you can make the determination to accept any offer that will substantially cover all of your expenses, medical bills, lost wages, and pain and suffering. If, after careful calculations, you believe that the negotiations with the insurance company have landed on a fair price that would substantially pay you back for your damages, you can make the decision to accept the check, and cash it.
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Contact a Car Accident Attorney in Orlando, FL
If you were in a car accident, visiting with a car accident attorney can help you understand what settlement would be fair and reasonable in your unique situation. Contacting the legal team at the Law Offices of Anidjar & Levine at 1-800-747-3733 can help you determine your options regarding settlements with insurance companies. If the other driver’s insurance company says they can send you a check, it may be rash to accept it before talking to a car accident lawyer.