Why You Should Never Accept the First Insurance Settlement Offer
After a car accident, receiving a settlement offer from an insurance company may seem like good news. You may have medical bills piling up, vehicle repairs to pay for, and lost income from missing work. However, accepting the first settlement offer is often a mistake. Insurance companies are businesses, and their goal is generally to resolve claims for as little money as possible.
The First Offer May Not Reflect Your Full Damages
An insurance company’s initial settlement offer may be based on limited information about your injuries and losses. Shortly after an accident, you may not yet know the full extent of your medical expenses or how long your injuries will affect you.
Some injuries take days or even weeks to fully develop. You may require additional treatment, physical therapy, prescription medications, or even surgery. If you accept a settlement before understanding the long-term consequences of your injuries, you could be left responsible for expenses that the settlement does not cover.
You May Be Entitled to More Than Medical Expenses
Your car accident claim may involve significantly more than your immediate medical bills. Depending on the circumstances, you may be entitled to compensation for medical expenses, lost wages, reduced earning capacity, property damage, physical pain, emotional distress, and other losses.
An insurance adjuster may not automatically include every category of damages in an initial offer. Evaluating the full value of your claim requires looking at both your current losses and the potential impact the accident could have on your future.
Insurance Companies Know That You May Need Money Quickly
Insurance adjusters understand that accident victims may be under financial pressure. You may be unable to work while medical bills continue to arrive. A quick settlement can therefore seem extremely appealing.
However, once you sign a settlement agreement and release your claims, you generally cannot return later and demand additional compensation simply because your injuries turned out to be more serious than expected. This is one reason it is important to understand what you are giving up before accepting an offer.
You Can Negotiate the Settlement
An insurance company’s first offer is not necessarily its final offer. You may be able to negotiate for a higher settlement by providing documentation supporting your damages and explaining why the initial offer does not adequately compensate you.
An experienced personal injury attorney can review the insurance company’s offer, evaluate your damages, negotiate with the insurer, and determine whether pursuing additional compensation is appropriate.
Talk to Attorney Brian Brunson
If you have been injured in a car accident, call the Law Office of Brian Brunson before speaking with the insurance company. We can help you understand your legal rights, evaluate your case, and work to get you the compensation you truly deserve.
Named one of the “Best Car Accident Lawyers in Dallas” by Expertise.com, Brian Brunson is Dallas personal injury attorney who is dedicated to helping clients who have suffered a car, truck, or motorcycle injury through the negligent or wrongful conduct of other drivers. In addition, his professionalism is unmatched and the firms’ client reviews speak for themselves.
We proudly serve the Dallas-Fort Worth metroplex and surrounding areas, our office supports the legal needs of a wide variety of clients. Let the Law Office of Brian Brunson be your advocate in your time of need and help you put your life back together. If we can’t win or settle your case, you don’t pay a dime! We know it can be daunting to take that first step after you’ve been hurt. Contact Brian Brunson today via email or call us toll-free at 1-844-41-WRECK. We can help, when no one else will.
