Can You Seek Additional Compensation After Accepting A Personal Injury Settlement?
Have you accepted the insurer’s settlement offer in your personal injury case but need to seek additional compensation because your injuries have worsened or you have incurred more financial losses than initially anticipated? Our Maryland personal injury attorneys at Berman | Sobin | Gross LLP can review your unique situation and explain whether or not you will be able to seek additional compensation.
The Pros of Settling Your Personal Injury Case
Settling your personal injury case out of court can offer several advantages over going to trial. For one, it can save time and money by avoiding an expensive and lengthy legal battle. Additionally, settling allows both parties to come to an agreement regarding how much money will be paid out in damages as well as who will be responsible for paying them. The settlement process also offers confidentiality because once the settlement is finalized, any details about the incident are kept private between both parties involved.
Note: Did you know that, according to The Law Dictionary, an estimated 95% of civil cases, including personal injury cases, are settled?
The Cons of Settling Your Personal Injury Case
Settling your personal injury case also has some drawbacks that should be taken into consideration. One downside is that the amount of money you receive from the settlement may not be enough to cover all of your medical expenses or other costs associated with being injured in an accident.
Additionally, if the defendant’s insurance company offers a lowball settlement offer that seems unfair or unreasonable, it may not be worth settling at all. Finally, when you settle out of court, you give up your right to sue or file a claim against the defendant later on down the line if necessary.
Seeking Additional Compensation After Settlement
If you have settled your personal injury case but still feel like you deserve more compensation due to continued suffering or medical bills related to the accident, there are a few options available for seeking additional compensation after settlement has been reached.
You might want to consider filing a new claim against the defendant if their actions were found negligent during the discovery or appeals process following your initial lawsuit. Alternatively, if you are able to prove that new evidence has been uncovered since then (i.e., unexpected medical bills resulting from complications due to injuries sustained in the accident), then you may also have grounds for reopening negotiations with the defendant’s insurance company for additional compensation based on these new findings.
In most cases, however, an injured victim who has already accepted a personal injury settlement will not be able to file a new insurance claim against the same party for additional recovery of damages.
Consult with a Personal Injury Attorney at Berman | Sobin | Gross LLP
If your injuries have worsened, you developed new complications, or your medical expenses have increased after accepting a settlement offer, you need to understand your options for further compensation. Each case is unique, which is why it is best to consult with a knowledgeable personal injury attorney. Schedule a free consultation with our attorneys at Berman | Sobin | Gross LLP to discuss your options for additional compensation. Call 800-248-3352.