One of the most common questions victims ask following a motorcycle accident is when they should accept an insurance company’s settlement offer. The simple answer: You must never accept a settlement prior to determining the real value of your motorcycle accident claim.
Halepaskalaw.com and other motorcycle injury attorneys in Denver say that you need to know exactly how much you deserve. To calculate your claim’s worth, you need to know the degree of your motorcycle injuries and how they would affect you in the future. This means that ideally, you shouldn’t accept a settlement until you’ve reached maximum medical improvement (MMI).
What Exactly is Maximum Medical Improvement?
Maximum medical improvement (MMI) is the point where you’ve reached your recovery limit. For some, this might mean that they’ve completely recovered and are not experiencing any more symptoms.
For example, you’ve reached MMI if your broken bone has fully healed. Others, however, reach MMI even if they still experience symptoms. This usually occurs with spinal cord and brain injuries.
What Happens if You Don’t Wait?
Not waiting until MMI to estimate your claim’s value might result in underestimating the real value of your compensation. For instance, if you have sustained herniated discs and a fractured spine, you couldn’t possibly know which treatments you might need to undergo in the future, how long will be the duration of treatment, and how your symptoms would continue to affect your quality of life.
To better understand how crucial waiting for MMI is, here’s an example:
Let’s say that your doctor told you those motorcycle injuries you sustained would heal in a couple of months. After a year of treatment, however, you’re still experiencing physical and emotional symptoms even if your doctor has told you that you’ve reached MMI.
What if you had already accepted a settlement offer? Then you probably didn’t take into account the compensation for pain and suffering as well as future treatment. In short, you only obtained a settlement that’s less than what your claim is worth.
The main thing to remember with maximum medical improvement is that once you’ve accepted a settlement, you can’t go back and demand more money. It’s vital that you wait until you reach MMI even if your doctor tells you that you’ll recover fully in time.