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Why You Shouldn’t Accept the First Insurance Settlement Offer

by | Mar 25, 2024 | Auto Accident, Blog | 0 comments

Why You Shouldn’t Accept the First Insurance Settlement Offer

Insurance adjusters are often hasty after a car accident. However, it would be best if you never settled early under any circumstances. Acting fast may keep you from receiving the full and fair compensation you deserve. The offer may be enticing but don’t get trapped into an early car accident settlement.

When the Insurance Company offers a settlement, must I accept it?

You are never required to accept the early settlement offer of the insurance company. 

In the aftermath of a car accident, it can often feel overwhelming and stressful. Injury victims can feel incredibly vulnerable and overrun with the worries of paying for their medical care and property damage. If the auto accident injuries are severe enough, they may even miss work, adding even more burden. 

Insurance adjusters will often take advantage of the car accident victims in this desperate situation, catching them off guard and before they have had the opportunity to calculate the value of their losses. Their early settlement offer for the car accident might sound like a lot of money, but it is often undervalued. You may also not even know the full extent of the injuries if you settle too soon. New injuries may arise, or existing injuries may worsen. Once you accept an offer, you waive your right to seek additional compensation.

The insurance adjusters may also use scare tactics to lead the car accident victims into believing their initial offer will be their only offer. It’s important to remember that insurance companies are for-profit organizations that protect their bottom line and avoid paying large sums of money. 

Their initial offer is just that: an offer. The at-fault party is legally obligated to pay for your car accident-related losses. A personal injury lawyer can help you demonstrate the strength of your car accident claim and demand the maximum compensation you deserve. A personal injury attorney will also help you calculate all your total losses, including past and future medical bills, lost income, pain and suffering, property damage, and other accident-related losses. They will also assist in investigating the auto accident to establish fault and prove the at-fault driver’s negligence and liability by gathering police reports, eyewitness accounts, any photos or videos of the scene, and other evidence.

Suppose the insurer offers you a lowball settlement. In that case, you should deny it and inform them that you will be consulting with your car accident attorney, who will contact them to continue negotiations.

After a car accident, dealing with insurance adjusters can be stressful, especially if you are recovering from an injury. Working with an experienced personal injury attorney can relieve you of that stress and focus on healing. 

By hiring the car accident lawyers at Joshi and Patel, you can rest assured that a skilled professional will handle negotiations on your behalf. If you or a loved one has been involved in a car accident speak with an experienced car accident attorney at Joshi & Patel. 

At Joshi & Patel we offer a free case evaluation, no obligation consultation. Once it has been determined that you have a case, we will work for you on a contingent fee basis. In other words, you don’t pay your personal injury attorney fees up-front. Instead, you sign an agreement to pay us a percentage of your settlement amount. You pay us absolutely nothing unless you recover. 

**Many of our blog articles discuss the law. All information provided about the law is very general in nature and should not be relied upon as legal advice. Every situation is different, and should be analyzed by a lawyer who can provide individualized advice based on the facts involved in your unique situation, and a consideration of all of the nuances of the statutes and case law that apply at the time.