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Should I Take The Insurance Company’s First Settlement Offer?

Posted By Legal Team | November 29 2022 | Personal Injury

After being injured in an accident that wasn’t your fault, the last thing you want to do is haggle with an insurance company over a fair settlement. But make no mistake: the insurance company’s first offer is almost always far below what your claim is actually worth. Here’s why you need a lawyer.

Reasons Not To Take The Insurance Company's First Settlement Offer

You Could Get Taken Advantage Of

If the insurance company makes you a settlement offer and you don’t have a personal injury lawyer representing you yet, the insurance company will think they can take advantage of you. They will offer you a low settlement, which could leave you with many thousands of dollars in medical bills and no compensation for lost wages.

The First Offer Is Almost Always Too Low

The insurance company’s first offer is almost always too low. Why? Because they know that most people are eager to put the whole ordeal behind them and move on with their lives. But if you accept their first offer, you could be leaving thousands of dollars on the table. A personal injury lawyer will help you negotiate a fair settlement that covers all your accident-related expenses.

You May Not Be Fully Healed Yet

If you accept an insurance settlement too soon after your accident, you may not be fully healed yet and could lose a lot of money in the long run. It can take weeks or even months to reach maximum medical improvement, so it’s important to wait until then before accepting any settlement offers. Otherwise, you could end up footing the bill for future medical expenses out of your own pocket.

Once You Receive a Settlement, The Case is Closed

It’s important to remember that once you accept a settlement offer, you’re waiving your right to seek further compensation in the future. This means that if you discover additional damages down the road or your injuries turn out to be more severe than initially thought, you will not be able to seek additional compensation from the at-fault driver or their insurance company.

How a Personal Injury Lawyer Can Help You Receive a Better Settlement

Having a personal injury lawyer on your side during settlement negotiations with the insurance company can make all the difference. Here’s how:

A Personal Injury Lawyer Will Gather Evidence to Support Your Claim

If you have been injured in an accident, it is important to collect as much evidence as possible to support your claim. This includes taking photos of the accident scene, getting the contact information of any witnesses, and keeping track of any medical bills or expenses related to the accident. A personal injury lawyer will know what types of evidence are most important in these cases and can help you gather everything you need to build a strong case.

A Personal Injury Lawyer Knows How to Calculate Damages

Personal injury lawyers have extensive experience calculating damages. They take into account all past, present, and future medical bills, lost wages, pain and suffering, and more. This helps to arrive at a fair settlement figure that fully compensates you for your losses. The insurance company will have their own adjuster who will also be trying to calculate damages, but they will almost always come in low in an attempt to save the company money. Having a Charleston personal injury lawyer on your side levels the playing field and gives you a much better chance of getting what you’re entitled to.

A Personal Injury Lawyer Forces The Insurance Company to Take You Seriously 

When you have an attorney representing you, the insurance company knows that you’re not going to just accept their first offer and go away. They’ll realize that you’re serious about getting the compensation you deserve, and they’ll be more likely to give you a fair settlement offer.

If you need help, contact us today to schedule a free consultation.

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