Getting into a car accident and dealing with the aftermath is a stressful ordeal. There may be physical injuries to tend to as well as financial ramifications due to having a damaged or out-of-order vehicle. The last thing that most people think about is whether or not they should cash their settlement check from the accident. However, there are certain things to keep in mind before doing so.
What should you consider before cashing a car accident insurance settlement check in Georgia?
Whether or not you wish to accept the settlement
Many car accident victims do not realize that cashing a settlement check in Georgia implies that they consider the matter closed. Sometimes, the other party’s insurance company will attempt to be tricky and lead the opposing party to believe that other payments will follow the initial payment. However, this is not always the case. If you are unsure about the amount that an insurer offers after a motor vehicle accident, consult with a lawyer about your concerns.
If you may need further compensation
It can be tempting to cash a settlement check right away, especially if you need funds. However, it is important to consider whether you might need additional compensation for future medical bills or lost employment wages. Refraining from cashing the settlement check right away may mean a larger payout down the road.
It is imperative to know all your options when dealing with the aftermath of a car accident. Doing so will help ensure that you get the best compensation possible.
