Car Accident Settlement Agreement
A car accident settlement agreement form is the document you sign when you are ready to accept a settlement for your car accident damages. This agreement is legally binding, signifying that the insurance company agrees to pay you the named settlement amount. Additionally, placing your signature on the agreement confirms that you release the other party from any further liability.
Before agreeing to a settlement, it can be helpful to get a case review from an attorney’s office. If you work with a personal injury lawyer they can help you evaluate if the offer is fair and explain any other legal options that might be available in your case.
Understanding the Types of Compensation Available After a Car Accident
After a car accident, it is important to understand that you can seek several types of financial compensation from the responsible party. If someone else’s carelessness caused your car crash, you may be entitled to recover the following losses that resulted from the accident:
- Medical Bills: Your crash could leave you with anything from moderate injuries to catastrophic, life-changing injuries. You have a right to seek fair compensation to cover your medical treatment, including any expenses you expect to pay in the future. The cost of medications, surgeries, hospital stays, emergency treatment, ambulance rides, physical therapy, and other medical care could be part of your settlement amount.
- Lost Wages: When you miss work because of your injuries, you could lose out on days or weeks of your regular paychecks. You may be able to recover these losses.
- Reduced Earning Capacity: Sometimes, an injury leaves you unable to return to your old job. If you had to reduce your hours or take another job to accommodate your limitations, this could be compensable.
Non-Financial Damages May Also Be Recoverable
Certain types of intangible losses can be part of your car accident settlement. These losses are usually harder to quantify, so working with an attorney to show what you are owed for these damages may be helpful:
- Pain and suffering: Your physical pain can be debilitating if you have serious injuries.
- Loss of enjoyment of life: Sometimes, car accident victims are so hurt that they cannot go back to their normal routine, hobbies, or other activities that they once enjoyed.
- Post-traumatic stress disorder (PTSD): Dealing with trauma after a car accident can greatly impact your life. If you are facing lingering trauma or flashbacks, an injury lawyer can help you show that you have PTSD and need continued treatment.
The damages above are a partial list of your potential compensation. A Fort Lauderdale car accident attorney can explain if you qualify for other types of damages.
Details Included in an Auto Accident Settlement Agreement Form
When you review a settlement offer from an insurance company, be sure that the car accident settlement agreement form contains the following information:
- Names of the parties involved: This should include yourself and other liable parties in the case.
- Basic information about the crash: The facts of the case should be described, including information about how, when, and where the accident happened.
- Damages: This is a list of the costs and losses you are claiming (or seeking to claim), reflecting your financial and/or non-financial damages resulting from the crash.
- The amount of compensation offered: The total amount offered by the insurance company should be listed.
It is crucial to review the settlement offer and be sure you understand its terms.
You may want to have a lawyer’s help when you are considering an accident settlement offer—or before you sign any important paperwork related to your car accident case.
How to Know if a Car Accident Settlement Agreement Offer Is Fair
A car accident settlement offer is fair if it reflects your past, present, and future losses associated with the crash, agreeing to pay you for the financial and non-financial damages of the accident.
However, it can be challenging to know when to accept an offer, and whether the offer made by the insurer is truly the amount you deserve. While you may be able to add up your current medical bills and other receipts to get a sense of your damages, this alone may be far from the true value of your case. Often, insurance companies know this—and they make you a low initial offer to protect their bottom line.
To be sure an offer is fair, you can ask an injury lawyer’s team to review your case. If you accept an offer too soon and sign a release of liability before working with a Personal injury law firm in Fort Lauderdale, you may be giving up thousands of dollars that could be part of your settlement. Once you sign a settlement agreement form, you cannot seek additional compensation if you need to cover future expenses down the line, such as ongoing medical treatment.
Get Help From the Law Offices of Wolf & Pravato
You may have many questions about your accident and what should be included in a car accident settlement agreement form. Thankfully, you do not have to manage this process alone. Our Florida personal injury lawyer have many years of experience in seeking the best possible results for car accident victims in South Florida.
To understand your legal options, call us today. Our team can explain your options during a free case review. Contact the Law Offices of Wolf & Pravato now at (954) 633-8270.
