What you need to know about initial accident settlement offers

On Behalf of | Jan 16, 2019 | Personal Injury |

It only takes a minute for a car accident to severely harm you and total your vehicle. Unfortunately, receiving a fair settlement to cover your bills and long-term injuries takes considerably longer. If you were involved in a serious car accident, you might not be able to afford to wait months for your settlement.

Claims adjusters and insurance representatives know that you are worried about paying medical bills and other expenses while you wait for your insurance check. They may use these concerns and other tactics to convince you to agree to a settlement that is far less than you deserve.

Don’t jeopardize your chance to receive a fair payout by falling for these common tricks:

  1. The insurance company tells you that its first offer is the only or best offer you’ll receive. This may not be true. You can reject the offer and make your counteroffer. A skilled personal injury attorney will know what your claim is worth so that your counteroffer is realistic. An attorney can also negotiate on your behalf.
  2. The insurance company offers you a quick settlement in cash after you sign a release form. When you sign this release form, you may give up your right to seek additional compensation. Before accepting this offer, you should have a qualified professional review the offer to see which treatments or injuries are covered.
  3. The insurance adjuster provides excuses instead of information when you ask for updates on your claim’s process. Insurance companies act promptly when it is in their best interests. They profit when they use delaying tactics to pressure injury victims into accepting an unfavorable offer.

Insurance companies know that many car accident victims are pressed for time and cash, which is why these businesses will initially offer low payouts after victims file a car accident claim. If you accept the first settlement offer you receive, you cannot file a claim later if your health deteriorates further as a result of your injuries. The payout you receive will need to cover all current and future expenses.

Before you accept that first offer, take the time to study your options. A low settlement check may not provide the coverage you need.



The Importance Of A Local Attorney