Insurance companies (especially Progressive) are being very aggressive in trying to settle claims very early and for very little money. The reason is simple. If they can reach you and settle your claim for $500 - $1000, they save themselves and other insurance companies a lot of money.
By settling your no-fault claim, your insurance company will not have to pay you for missing any work as a result of the motor vehicle accident. That means if you have a flair-up of symptoms that prevents you from doing all of your duties, you will either have to use up your vacation time, sick pay or go without pay.
By settling your no-fault claim, your insurance company will no longer have to pay your accident-related medical bills. While your health insurance may cover some of the bills, many health insurance plans will only cover a limited amount of chiropractic care, may require a co-payment for each visit, may have a substantial deductible, and may not cover certain types of treatment at all. The result of a premature settlement may be that you forego the very treatment that will help you recover.
Neck and back pain can take a long time to heal and symptoms can sometimes appear days or weeks after an accident. Settling your case early may leave you with symptoms and no way to pay for the needed medical treatment.
As discussed below, you are only entitled to a personal injury claim if you meet a no-fault threshold. If you settle your no-fault benefits early, it is highly unlikely that you will be able to get a personal injury settlement, because you will not have enough medical treatment to meet one of the thresholds. It is unlikely that the insurance company adjuster will tell you about this consequence when they offer you the money. Before you settle your no-fault claim with your insurance company, contact us first for a free consultation.In order to bring a claim for your injuries against the person who caused the accident, you must meet a tort “threshold”. You must meet one of the following:
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