My wife was in a car accident several months ago and a couple of our children were in the car with her. One of them (who happens to be two years old) saw a doctor and our insurance agency has been wanting us to do a settlement for $500 (we think he's likely fine).
I am unfamiliar with the ins and outs of this. My concern is that
- If I accept the settlement and later it turns out that he is hurt in some way (maybe a chronic condition) that he is unable to communicate to us we will have no recourse.
- If we don't accept the settlement, that we won't be able to approach them later if he does have some injury (I do not know if there is a time limit for claiming bodily injury after an accident).
Could someone please clear up my concerns:
In typical settlement agreements, if later medical expenses are incurred due to some unknown condition, is there any recourse?
Is there something akin to a statute of limitations with regard to how much time a person has to file a claim with regard to an injury (if it was not known at the time)?
We already have filed a claim (to pay for the doctor visit after the accident), which is why they want us to settle.