Car accidents happen pretty frequently in Louisiana and elsewhere. It seems that, every day, some awful collision is reported in the news. While some have minor outcomes, only resulting in property damage, there are those that change the lives of the victims forever. When motor vehicle accidents occur, those who have suffered losses may be entitled to seek compensation for those losses. This they can do either in court or through out-of-court negotiations.
Believe it or not, many motor vehicle accident cases do not need to go to court. Most are actually settled. However, it is important to really review the settlement agreement before signing one’s life away.
The settlement form should include detailed information about the crash, any claims filed, the names of the parties involved and payment terms. Sometimes, insurance companies will jump the gun and try and get a settlement out before one even knows how significant the damage is. For example, if one suffers severe injury, treatment, rehabilitation and long-term care, this can really add up. By taking a settlement too early, one may not receive full compensation for these costs, as they may not be known right away.
In order to avoid litigation, insurance companies do try to settle first. This can be a good option and help those who are victims of motor vehicle accidents move on quickly. However, some Louisiana residents may disagree with the proposed settlement terms and wish to pursue compensation in court. With legal assistance, it is possible to achieve fair and full compensation for any damages sustained through either course of action.
Source: FindLaw, “Before You Sign a Car Accident Settlement Agreement Form“, Accessed on Dec. 11, 2017