It is often observed that insurance companies offer a settlement after a car accident. It is a lump sum of money, and the moment you accept it, you can not receive any more benefits from them. Such settlements are generally a trick. The amount is large, and receiving it is tempting. However, you do not have any idea how much money you need, especially if you are injured. Click here to hire a car accident attorney if you are involved in a car accident.
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How an insurance company can fool you out of hiring an attorney
The entire business model of an insurance company is prepared to take as many funds as they can and pay the minimum amount to their customers. They really want you to accept the settlement and will use anything to make it happen and mislead you. The final thing they will do is hire a lawyer, so they inform you of half-truths to hold you from doing so.
“You will use half of your compensation on legal fees.”
It is a common claim. It is not specific to insurance companies. Legal fees are expensive, but taking the “half of the compensation” idea as the gospel is not good. It is meant as a broad guideline.
There are certain rules on how much a personal injury attorney can make in a lawsuit. Most often, lawyers cannot take 33% of the overall compensation. That percentage is still not a standard expectation. You will meet with your lawyer and have to negotiate the fees. Depending on the relationship, you can come to terms with paying as low as 33% of compensation.
“It is better to handle the situation by yourself.”
Sometimes, we have a fender-bender case and must deal with the insurance companies. Such types of cases are easy to handle. You must contact your insurance company, inform them of your story, and receive reward compensation. Some companies have partnerships with dealers. All you need to do is take your car in, and you do not have to worry about the rest.
Take to a lawyer before doing anything on paper.
Whenever you are working on a settlement, take it to a lawyer. They will go through the deal and find any tricks that can restrict your benefits. Attorneys can fight back and negotiate for the maximum possible compensation. If required, the attorney can take the matter to court, where you can substantially receive better compensation for your injuries.
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