One of the things that many insurance companies do after a bike crash, after a pedestrian injury or even an auto accident is to reach out to the injured person right away. And, sometimes they'll approach them about paying them some amount of money to pay for their inconvenience and “help them” with some expenses on the short run in order to “take care of them” after the accident. This is a calculated business decision that they use. And, this is a tactic used by the biggest insurance companies in the business. If I told you the names, you would recognize them.
Here’s the problem. They’re making a business decision that they think will cut off a lot of more valuable claims by paying someone $1,000, $1,500 or maybe even $3,000 immediately after a crash. Many times people will tell me that they felt pressured and they wanted me to make a decision right away. When you have this situation I would suggest to you, slow down, pick up the phone and talk to a lawyer. It’s unusual that an accident where they are offering you money doesn’t have more value than what they are telling you it’s worth. Many times I talk to people who have left a significant amount of money on the table by accepting a small amount of money early.
Remember, when they offer you money they are going to do it in exchange for a release of liability which means your claim will be over if you accept it. The fact that you discover that you need surgery two months later won’t make a difference. Your claim has been settled. So, before you accept money from the insurance company after a bicycle accident, call and talk to an attorney. Make sure you’re doing the right thing.