If you’ve been injured in a crash, you’re probably wondering how long you should wait before accepting a settlement for the damages you suffered. The answer isn’t always straightforward. Settling too early or waiting too long can both impact the compensation you receive. Here’s what you need to know to make an informed decision.
Don’t settle your claim before your injuries fully heal. You need a clear picture of all your medical needs before settling, so you shouldn’t rush. Your condition may deteriorate if you settle before reaching maximum medical improvement, and you might leave money on the table for ongoing treatment or unexpected complications.
A quick settlement may also not fully account for certain damages, like a diminished earning capacity or the pain and suffering you endured. This can leave you in a difficult position, as you cannot reopen your claim if you realize it later.
Beware of the statute of limitations
Delaware has a legal deadline for taking car accident claims to court if you want to pursue compensation through a lawsuit. This deadline is generally two years from the date of the accident.
It’s best to wrap things up before this window expires because you may be legally barred from filing a claim in court. Without the option of filing a lawsuit, you lose crucial leverage during settlement negotiations, and you may end up with a settlement that doesn’t cover your damages.
Get legal guidance
Navigating the timing of a settlement is a tricky balancing act. You need to wait long enough to understand the extent of your injuries and associated costs while also avoiding delays that could weaken your position. A qualified legal professional can help you understand your rights, make informed decisions and protect your interests during the settlement process.