In the wake of an auto accident, a New York resident may rightfully prioritize the management of their injuries and the improvement of their health. They may take time off from their jobs and seek the help of others to accomplish the tasks they are limited in performing due to their accident-related harm. Only after they have begun to heal may they consider the actions they may wish to take against the party or parties that caused them harm.
A victim of an auto accident may choose to sue for the recovery of their damages. Some victims, however, may receive settlement offers from representatives of the responsible parties. A settlement offer is an offer of compensation to a victim. Generally, however, in order for a victim to receive the settlement payment they must agree to waive their rights to sue the responsible party based on claims arising from their accident.
For some victims, settlements may make a lot of sense. Individuals who have minor injuries and who recover quickly may be able to secure just compensation for their harm from a settlement. However, victims who ensure serious injuries and who may never fully recover from their accidents may need more compensation than what is offered in their settlement documents.
Whether a victim should entertain the acceptance of a settlement offer will depend on the facts of their personal injury case. Their attorney may be able to provide them with guidance on how best to interpret their settlement offer. This post does not offer readers advice on settlements after personal injury accidents, but provides only a brief summary of how they may come into play after such incidents.