No one enjoys getting involved in the stress of settlement negotiations and legal actions. If you suffer a relatively minor car accident, and the other driver offers you a sum of cash in exchange for waving your right to sue, it might be tempting to accept their offer in order to keep things simple. But there are a few reasons why accepting a cash settlement offer can result in you losing out on the compensation that you need to be made whole again after your accident.
In the first few minutes after the crash, you may feel totally fine. Even if you received a jolt during the crash, if you don’t feel any immediate neck or back pain, you might assume that you escaped the crash unscathed. Unfortunately, there are certain injuries with symptoms that you might not feel until several days after the initial event.
Whiplash symptoms often take more than 24 hours to appear. Other injuries, such as damage to nerves and the delicate bones in your neck and back, can take even longer to fully manifest. If you accepted a cash settlement, you won’t be able to seek compensation for the full extent of your medical bills, even if they’re much higher than you initially thought.
Hidden vehicle damage
Just like our bodies, vehicles can also have hidden damage that possibly won’t fully manifest until days or weeks after the crash. This damage can sometimes not be apparent from a surface-level inspection of the car, and can only be discovered with a thorough inspection by a trained mechanic.
You could be driving down the freeway long after the crash when something important gives out, potentially with catastrophic results. If you waived your right to seek compensation, you will be limited to the cash that you accepted, which very well may not be enough to carry out the needed repairs.
You deserve to be compensated for any damage that you suffer as a result of someone else’s negligence. Don’t limit your options by being too hasty to accept a potentially inadequate cash settlement offer.