Should I Accept A 'Quick Insurance Settlement' For My Injury Claim?

Many insurance companies in the United States have recently begun focusing their advertisements on the convenience of quickly settling injury claims with their customers.

The commercials often depict these "quick settlements" as a beneficial feature to settling insurance claims. Just take a look at the video below, for example:

The fact of the matter is, this advertisement is part of a dangerous marketing scheme orchestrated by insurance companies to misinform consumers and trick them into believing that receiving a quick settlement is somehow a good thing.

Insurance Companies Use Stress to Their Advantage

When a person is injured in an accident through no fault of their own, the mounting medical bills, lost wages from missing time at work, and various other costs can quickly become overwhelming. Insurance companies use that to their advantage by offering a “quick settlement” to entice the victim to settle the claim.

But the problem with this is that it puts the accident victim in the position of potentially settling their personal injury claim before they have identified all of the damages that they should be compensated for. For example, some medical problems resulting from accidents take time to become apparent, and once a victim agrees to settle their personal injury claim it cannot be reopened.

Ultimately, if an injured claimant agrees to settle their claim before all of the potential injuries and damages have been discovered, that person risks having more issues come up down the road that they will ultimately not be compensated for. The insurance company knows this very well, and wants to get you to agree to the settlement quickly in order to avoid fairly compensating you for the losses you have suffered.

You may not necessarily need to sign any documents in order to settle your claim, either. If an insurance company mails you a settlement check and you deposit the check, that can be taken as your consent to settle or close the claim altogether.

Chris Davis
Top-rated, award-winning, attorney practicing wrongful death & serious injury law in Seattle.