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Monday, March 31, 2014
When Should I Accept an ICBC Settlement Offer?
One of the
most important decisions you will make regarding your ICBC auto accident
claim is when to settle. The answer to this question will depend on the
specific facts involved in your claim. Remember, ICBC will attempt to settle
your claim as soon as possible after your car accident, because it saves
administrative costs for them to close files quickly. Additionally, since
initial settlement offers are always low, the earlier you settle your claim,
the less money ICBC has to part with.
Once you
settle an ICBC claim, you are not entitled to further compensation from ICBC
for your injuries. Part of your settlement involves signing a final Release
that will end your entitlement to future compensation for your claim. This
means that if your injuries end up being more serious than you thought when you
first accepted the settlement, it is unlikely you will be able to re-open your
claim.
If you want
to settle before you have fully recovered from your injuries, you should only
do so if ICBC agrees to pay you for future anticipated costs associated with
your injuries. Unfortunately, unless an attorney is involved, ICBC will rarely
pay out future costs in a claim. This is why it is essential to have an
experienced British Columbia auto accident attorney on your side while you are negotiating your settlement with ICBC.
If you have
been seriously injured in a car accident anywhere in British Columbia, make sure
you receive the full amount of compensation you are entitled to. Please contact Stephens &
Holman today or call toll free (866) 200-3575 for free advice on your car
accident injury claim. We represent injured accident victims in Vancouver,
Delta, Langley, Surrey, and throughout British Columbia.
posted by Admin at 11:27 AM
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Question?
Contact us for free advice
on your personal injury claim.
Stephens & Holman
1-866-394-7070
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