Why You Should Not Accept the First Settlement Offer from the Insurance Company
It can be tempting to accept the first settlement offer from the insurance company after your car accident, especially if you are injured and need help with medical bills and other expenses. You also may have lost wages if you are out of work because of your injuries.
There are many reasons why you should not accept the first settlement offer from the insurance company. The best way to protect your right to fair compensation is to first speak with an experienced personal injury attorney before negotiating with insurance company. The car accident attorneys at Contigo Centro Legal will review your case at no upfront cost to you to ensure you receive the maximum value of your insurance claim.
Beware of a quick settlement offer. First offers rarely account for long-term needs.
Your injuries may be more complicated and severe over time. Many months after your accident, you could require costly surgeries or medical treatments. When the insurance company makes the first offer, it rarely accounts for future medical expenses. Insurance companies know you cannot predict your long-term medical needs and expenses, so the first settlement offer likely will not cover the full value of your claim.
The insurance company might also rush to make the first offer before your injuries can be fully evaluated by a medical professional. It is difficult to properly assess what your insurance claim is worth without knowing the full extent of your injuries and the long-term impact they could have on your health.
Accepting the first settlement offer before seeing a medical professional or before your treatment has concluded may leave you with bills you have to pay out of pocket for:
Emergency response services (e.g., ambulance).
Surgery.
Hospitalization.
Physical therapy.
Rehabilitative therapy.
Insurance companies are focused solely on protecting their profits, not acting in your best interests. Common practice is for insurance companies to make lowball offers, and many people accept them because they do not know how to fully value their injury claims. Insurance companies know how to take advantage of injured people when they are in dire need of money to cover medical expense and lost wages.
If you are acting alone, and without legal representation, rejecting the first settlement offer will delay the resolution of your claim. As time goes on, insurance companies know you may eventually accept an offer that is still far less than the full value of your claim.
Before agreeing to ANY settlement offer, it is critical to speak to an experienced personal injury attorney. The attorneys at Contigo Centro Legal specialize in evaluating insurance claims on behalf of injured clients. Our accident attorneys can be an important resource to help you understand the insurance claims process and receive fair compensation for your injuries.
First offers are a starting point for negotiations with the insurance company.
Once you reject the first settlement offer from the insurance company, the negotiation process begins. The insurance adjuster handling your claim typically has the authority to increase the settlement offer, but the adjuster will tell you he or she cannot offer you more money. Do not be fooled. It is a common strategy for insurance companies to convince you to accept the low offer, which saves the insurance company money and leaves you paying out of pocket for medical expenses and other costs associated with your injuries.
The best way to protect yourself is to seek the help of a personal injury attorney who can negotiate your insurance claim for you. Once you have legal representation, all communication with the insurance company is handled by your attorney. The personal injury attorneys at Contigo Centro Legal are skilled negotiators and will do everything possible to help you get the full value of your claim.
Contact Contigo Centro Legal before agreeing to a settlement.
If you are injured in a car accident, it is important to contact the attorneys at Contigo Centro Legal before you begin working with an insurance company; however, if the insurance company has already made a settlement offer, call our attorneys before accepting it.
Your injury claim is likely worth way more than the insurance company wants you to believe. Our attorneys know the tactics insurance companies use to underpay claims. We are experienced at pushing back and fighting for injured clients when the settlement offer is much lower than the value of the claim.
If you or a loved one has been injured in a car accident, let Contigo Centro Legal get the maximum compensation possible for you and your family. We offer free case reviews, which means we charge you nothing while we work on your claim. Contact us today at 816-800-8000 or contigocentrolegal.com.