You were hurt in a Louisiana car wreck. You missed work. Maybe you had surgery. Now, the other driver’s insurance company is offering you a settlement for the full amount of their policy.
It sounds final. They call it “policy limits.” So you’re wondering: Do I really need a lawyer if I’m already getting the max? After all, why split this much-needed money with a Louisiana personal injury lawyer if it is the policy’s limit, right?
It’s a fair question. But here’s what you need to know before signing anything.
What to Ask Before Accepting a Policy Limits Settlement
Insurance companies are quick to pay when they’re trying to avoid paying more later. Before you sign a settlement agreement, make sure you have answers to these important questions:
- Is it really the full policy limit? How do you know? Have you seen proof of the policy’s actual value?
- Are there other insurance policies that might cover your damages? What other types of insurance may be available? What about umbrella coverage or a second policy from the car owner or employer?
- Was the driver working at the time of the crash? If so, a company insurance policy may apply even if they were driving a personally owned car. But you have to investigate this properly to find out.
- Does the driver have personal assets? If you accept the policy limits and sign a release, you may give up your right to seek more. Are you sure it’s the full picture?
- Will this affect your underinsured motorist (UIM) claim? You may be able to recover more from your own uninsured/underinsured motorist (UM) coverage, but only if the settlement is handled correctly.
- Is someone else responsible, too? Sometimes the car owner or another party shares fault. If you only settle with the driver, you might miss out on other recovery options.
- How will your medical bills get paid? Will the policy limit cover all your treatment? Can those bills be negotiated?
- Why is the insurance company rushing you? Insurance companies don’t make fast offers to be kind. If they’re in a hurry, there’s often more to the story.
Make Sure You Know the Whole Story
You only get one shot at settling your claim. Once you sign, that’s it. If new expenses come up or if you later learn more money was available, you cannot reopen your personal injury claim.
Before accepting a settlement for policy limits, it’s important to know what your injury claim is worth and talk to someone who’s been through this process many times. The attorneys at LJBLegal know how to dig deeper, find hidden policies, and fight for the full value of your claim, including recovering more than the policy limits in some cases.
You may not need to file a lawsuit. But if you do, you want a New Orleans personal injury lawyer who’s ready to go all the way and has the team to back it up.
We DO THE RIGHT THING
The correct choice – always – is to do the right thing.
FREE Confidential Case Review (985) 240-9773Talk to LJBLegal Before You Settle
If your injuries are serious and the insurance company is offering policy limits, don’t guess. Get answers. LJBLegal helps injury victims across Louisiana make informed decisions and recover what they’re truly owed.
Call (985) 240-9773 or click below for a free case review.
