Should I accept the insurance company’s initial settlement offer after an injury?

Should I accept the insurance company’s initial settlement offer after an injury?

On Behalf of | Apr 25, 2022 | Personal Injury |

When you suffer a devastating injury, you are likely to feel concerned about your future and your financial situation. You file a claim with your insurance company trusting that you will receive fair compensation for the damage received.

You have enough to worry about after experiencing a severe personal injury. It may be tempting to accept the insurance company’s initial settlement offer so you can just move on, but you may be due much more compensation than your insurer lets on.

Are initial settlement offers unfair?

Insurance agents are in the business of protecting their company’s interests, so your initial settlement offer will likely be a lowball amount far below what your claim is worth. The insurance company may rush to offer you an amount before a medical professional fully evaluates your injury. Bear in mind that initial offers also do not account for future medical expenses resulting from your injury.

How can I reach a more favorable settlement?

It is best to avoid accepting a settlement from your insurance company until you speak with an attorney. Your personal injury lawyer can help you understand how to properly value your injury claim. They can also advocate for you in the event that the insurer contests your claim.

Claimants should always exercise a great amount of care when speaking to the insurance company. Any admission of fault for the incident responsible for your injury can affect your claim, and the initial offer itself is likely much lower than what you can receive after a credible injury evaluation.