The claims settlement process after an accident can be lengthy and complex. It can take months to work through all the details and finally reach a settlement. Most personal injury settlements involve signing an agreement and release that explains which claims you are giving up.
Before signing a settlement agreement, it is important to understand its terms and make sure the compensation accounts for your current and future losses.
Why Settling a Claim Usually Closes the Case
When you settle a personal injury claim, both you and the insurance company are getting a benefit. You are receiving compensation for your injuries. In return for paying that money, the insurance company is released from all current and future liability arising from that claim.
Once a valid settlement agreement is finalized, it generally becomes a legally binding contract. This usually prevents you from seeking additional compensation for claims covered by the release.
What Happens If You Need More Money After Settling Your Injury Claim?
Accident victims often suffer substantial financial losses. Many require ongoing medical treatment for years. But what happens if you settle your case and later discover that you do not have enough money to cover medical appointments or other expenses?
Unfortunately, you generally cannot pursue additional compensation after signing a settlement agreement and release. These documents are legally binding, and financial hardship alone usually does not allow you to reopen a settled claim. Although limited exceptions may apply, you should not assume that you can recover more money later.
Why Is Maximum Medical Improvement Important Before Settling?
Reaching maximum medical improvement (MMI) means your medical condition has stabilized and further significant recovery is not expected. This does not necessarily mean you have fully recovered or no longer need treatment.
Waiting until you reach MMI, when possible, can help you better understand your future medical expenses, long-term limitations, and ability to return to work. However, legal deadlines and other circumstances may affect when you should settle.
An experienced personal injury lawyer can help evaluate your current and future losses before you accept an offer. This can reduce the risk of agreeing to a settlement that does not adequately account for your needs.
Can You Pursue Compensation From Another Responsible Party After Settling?
You may still be able to pursue compensation from another responsible party after settling your injury claim. However, your rights depend on the language of the settlement agreement and which parties were released from liability.
For example, suppose you are injured in a car accident and settle with the at-fault driver’s insurance company. If a defective vehicle part also contributed to your injuries, you may have a separate product liability claim against the manufacturer.
However, some settlement agreements release multiple parties, including individuals or companies that did not directly participate in the settlement. Before filing another claim, an attorney should review the release to determine whether your right to pursue additional compensation remains intact.
Important Considerations Before Settling Your Injury Claim
Before accepting a personal injury settlement, consider speaking with an attorney who can help you understand the value of your claim and the rights you may be giving up. A lawyer can help you put a proper value on your claim based on both your economic and non-economic damages.
Some of the things an attorney can help you understand include:
- How can I determine how much money I will need for future medical bills?
- How can I be certain that I’m receiving enough compensation to cover my future expenses?
- What happens if I am unable to return to work?
- Does this release prevent me from pursuing compensation from other parties?
Understanding the answers to these questions before signing a settlement agreement can help you make an informed decision and avoid unexpected financial challenges.
Contact the Santa Ana Personal Injury Attorneys at Robles Babaee, Personal Injury Lawyers for Help Today
Accepting a personal injury settlement can have lasting financial and legal consequences. Once you sign a valid settlement agreement, you generally cannot pursue additional compensation for the claims you released.
At Robles Babaee Personal Injury Lawyers, our Santa Ana personal injury lawyers can review settlement offers, evaluate your current and future losses, and explain your legal options. Whether you are considering an offer or have already signed an agreement, our team can help you understand your rights.
Contact us today to discuss your case and learn how we can help you pursue the compensation available under the law.
We serve Cobb County. Visit our office located in Santa Ana, California.
Robles Babaee, Personal Injury Lawyers
1851 E 1st St, Suite 810, Santa Ana, CA 92705
(714) 263-3700