If you have sustained injuries in an accident due to the negligent actions of another party, you may be getting settlement offers from an insurance adjuster. Because of the financial burden you may be facing because of your injuries, you may want to accept the insurance company’s first settlement offer. After all, the claims process in Fort Wayne can be quite stressful, and securing a quick payout may be the best way to recover from the accident. But personal injury attorneys at Delventhal Law Office LLC strongly advise against falling into this trap. Usually, initial settlement offers from insurers do not reflect the full value of your damages. Keep reading to learn more about why accepting the first settlement offer from an insurer is not advisable.
The First Offer May Be Low
Insurance providers are businesses that want to protect their bottom line. Whenever they make initial settlement offers, they tend to make it lower than the worth of a claim. They are hoping you will accept the first offer without question, which saves them money. Keep in mind that initial settlement offers start the negotiation process.
You Still Do Not Understand the Full Extent of Your Injuries and Damages
Following an accident, the extent of your injuries may not be apparent right away. A minor problem can develop into something serious and require ongoing treatment or even surgery. When you accept a settlement offer from the insurer before you understand your current and future medical needs, you can be left without adequate compensation that covers your medical expenses.
You Want to Seek Compensation for All Your Damages
Medical bills are not your only damages. Your compensation should also cover lost wages, property damages, pain and suffering, and other costs associated with the accident. The insurance company’s initial settlement offer may not account for such factors. Rejecting their first offer lets you pursue a higher settlement that reflects the effects of the accident on your life.
Negotiations Can Result in Better Outcomes
In a lot of personal injury cases, negotiating with an insurer can result in better claim settlement. With the assistance and advice of an attorney, you can present solid evidence and arguments that emphasize your claim’s full value. Usually, insurers make a higher settlement offer when they see you are serious about securing the compensation you are entitled to. While this process takes time, the possible benefits will outweigh the risks of settling your claim for a low amount.
Speaking with an Attorney is Important
Before you make decisions, consult with an injury attorney first as they can assess your case and help you navigate the claims process. Your attorney will explain your claim’s true value, negotiate a fair settlement with an insurer, and make sure your rights are protected. You need an attorney to protect you from the tactics that insurance adjusters may employ to get you to accept their initial offer.
A personal injury attorney will collect all the necessary evidence to build a strong case against the negligent party. They will use this evidence to prove your damages and convince the insurer that you deserve more than their offers.
Although accepting the insurance company’s first settlement offer can be tempting, it can leave you getting the compensation you do not deserve. As a result, you can be struggling to cover all the expenses related to the accident and your injuries. Taking the time to understand your injuries, taking into account every aspect of your personal injury claim, and working with a reliable attorney in Fort Wayne make sure you are fairly compensated for the injuries and damages you have suffered.
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