One of the main reasons that Michigan has a no-fault insurance law is to make certain that there is adequate financial protection in place for people after a crash that causes significant injuries. Those with spinal cord and traumatic brain injuries (TBI), in particular, may find that no-fault insurance coverage is beneficial during their recoveries.

Unfortunately, because of the large potential payout involved in no-fault claim, insurance companies have a tendency to try to mitigate their liability through questionable practices like making  unreasonably low settlement offers. Especially if you have an injury that will cause lasting consequences, you need to be careful about settlements offered by your insurer.

Most settlements involve forgiving future liability

There’s a reason that your insurance company seems eager to offer you a lump-sum check when you have a major claim after a crash. Essentially, paying you one large amount could be a lot more cost-effective for the company than handing small amounts for each accident-related expense you have for the rest of your life, as your coverage may not be subject to any maximum coverage amounts.

A lump-sum settlement can seem generous at first, which is why it is very important to carefully review any settlement before you accept it. In many cases, a review of your current losses and likely future expenses will show that a first settlement offer is far lower than the actual cost of the injury. Here is where retaining a Sterling Heights personal injury attorney can be worth their weight in gold when they take the insurance company to court to litigate your personal injury claim.