So, while you were driving, someone just hit your car. Great! Your first thought after such a
scenario is probably – “What just happened?” which is quickly followed by “Am I O.K.?” “Are
they O.K.?” After the initial confusion, the next emotion is probably frustration, even anger.
“How am I going to deal with this?” you may ask. As it turns out, the person that hit you wants
to deal with their mistake by not involving your respective insurance companies and simply
paying you some amount of money to settle the matter. What should you do?
Unless the person is offering you a million dollars in cash for a simple fender-bender (which
should already raise red flags and is probably ill advised in and of itself), it is always advisable to
seek legal representation, such as can be provided by Rankin & Rankin Law Firm, in order to
protect you rights. At the least, an attorney will be able to educate you as to your options (and
perhaps obligations) in order for you to make the most informed decision.
Benefits of Not Accepting Out of Pocket Settlement Offers
You will have a party that can surely pay, the appropriate insurance company.
You probably have no idea who or what kind of person the individual that caused the accident is.
On the flip side, insurance companies are highly regulated and, in particular circumstances, are
required by law to pay certain benefits and perform certain duties. An experienced attorney will
be able to further explain these circumstances, benefits, and duties.
You will be availed of the benefits offered by your respective insurance policies.
Your insurance, if you have opted for the coverage, can provide you with no-fault medical
coverage, commonly referred to as PIP (personal injury protection) or Medpay. Their insurance
can provide you with payments to cover your property damage, medical bills, lost wages, and
pain and suffering.
Potential Dangers of Accepting Out of Pocket Settlement Offers
You probably won’t know the full extent of your damages until much later.
The future consequences of your traffic accident probably won’t be readily apparent. For
instance, you won’t know how damaged your vehicle is until thorough inspection. More
importantly, the effects of your injuries, such as what they are and how much they will cost to
fix, won’t be fully realized until your treatment is complete. Further, waiting for an extended
period before finally deciding to file a claim can affect your recovery.
Agreements to settle legal matters are often final.
You should always obtain legal advice before such a serious and potentially final decision, such
as to settle a property or personal injury claim out of pocket and forfeiting your potential rights.
You might wish you had made a different decision later on.
The person could try to swindle you, or even stiff you without paying anything!
Someone who has caused you any form of damage (whether property or bodily injury) and is
trying to settle out of pocket is most likely doing so because it is in their best interest, not
necessarily yours.
Contact Us Today!
If you find yourself in the unfortunate position of having been involved in an automobile
accident, and especially is someone wants to avoid insurance companies and settle out of pocket,
you should contact us at Rankin & Rankin as soon as possible so that we can put our knowledge
and experience in this area to work for you. Schedule your FREE CASE EVALUATION by
calling 843-248- 2405 or by filling out the form below.
Rankin and Rankin Law Firm is located in Conway, South Carolina and serves the entire
Lowcountry area including Horry County, Myrtle Beach, Georgetown, Charleston, and Hilton
Head, SC.
