Coronavirus and Settlement of Accidents- How Does That Work?

Orders issued by some states to shut down non-essential businesses in response to COVID-19 (new coronavirus disease 2019) have led to the closure of many businesses. Among the most essential businesses are those that employ service personnel such as police officers, utility workers, hospital staff, paramedics, and even grocery store clerks in this context, workers like these help keep us safe and secure as well as providing us with a sense of stability in our daily lives. There is no need for a bar or a nightclub, a movie theatre, or any other type of establishment. Several of these workers are being sent home.

Many People Are Unable To Earn A Living If They Do Not Have A Job.

Is it possible to survive without working? As a result, parents who are still allowed to work face a shortage of daycare services, as public schools are closed. How are you going to get by?

The first wave of layoffs due to the coronavirus has already hit the United States, according to the Washington Post. Financial survival will be a major concern for many families in the weeks and months ahead.

Because of this, when dealing with a bodily injury insurance claim, you may wonder:’ Should I accept less than the full value of my claim in order to avoid a lengthy legal battle’?

Many people who have been in car accidents are currently debating whether or not to accept the insurance company's final offer. You can talk to an accident attorney to know better about these facts.

What do you need to do next? The most straightforward answer is "it depends."

Is It In Your Best Interest To Accept A Settlement?

If you're forced to make a decision, you'll have to accept it. Everyone isn't in the same situation, and it's important to remember that. Some of us have to make do with what we have and are doing our best to make ends meet. When a curveball like the coronavirus is thrown into the mix, new factors become relevant.

However, if you find yourself in a financial bind due to a layoff, a mandatory shut down, or purely the need to supply your kitchen pantry, it may be entirely reasonable for you to settle your specific instance with the insurance company.

Consider the fact that many insurance companies now allow their adjusters to work remotely from their homes. That said, you should still be able to get in touch with your adjuster via phone or email with no issues.

A photo app on your smartphone can also be used to send and receive settlement agreements. A notary public may be available at your local bank if you need one to sign the release.

If you have a bank account, many claim departments are able to set up direct deposit. Insurance companies, on the other hand, prefer this approach. In a matter of minutes you'll have the money in your bank account.

Is there a time when you don't need to settle?

We've already established that each of us is at a different point in our financial lives. The coronavirus hasn't caused any financial hardship for some people. Those who have saved money and have credit cards on hand have no need to rush any part of their injury claim. It's up to you to decide what's right for you and your family in this situation.

If you've been refusing to settle with the insurance company because you believe their offer is inadequate, don't change your tactics now. The challenges posed by the coronavirus will eventually fade away.

The safety and well-being of your loved ones should be your primary concern right now. At some point, you'll have time to finish your claim.

Schedule your appointment with one of our reputed and experienced accident attorney at The West Law Firm in Oklahoma.

** Disclaimer: The above article does not imply a relationship between attorney and client, nor is it legal advice.