What to Consider Before Accepting an Insurance Company’s Accident Settlement Offer
After suffering injuries in an accident, you may be tempted to accept the first settlement offer from insurance companies, but it is crucial to consider how much your claim is worth before settling for their lowball. Keeping the following factors in mind when dealing with insurance companies can help you secure fair, full compensation:
Does It Cover All of Your Damages?
Personal injuries can result in several types of losses, including economic and non-economic. Therefore, it is essential to understand your claim’s full value before accepting a settlement offer. Based on the severity of your injuries and other unique details, your claim may include the following costs:
- Past, present, and future medical bills
- Lost wages from missed work
- Loss of earning capacity
- Property damage
- Assistive medical devices
- Home modifications
- Caregiving
- Pain and suffering
- Emotional distress
- Reduced quality of life
Our knowledgeable lawyer can help you calculate these damages and negotiate with adjusters to ensure your current and future expenses are included in your compensation.
What Happens When You Accept?
Before accepting an insurance settlement offer from the at-fault party’s insurance company, it is important to know that you cannot pursue any further compensation from them once you accept. Our Hollis Law Firm lawyer can help you negotiate for fair compensation before settling for the insurance company’s offer.
Can You Counter a Settlement Offer?
If the insurance company offers you a lowball settlement, you can make a counteroffer to increase the amount. However, having a lawyer for this process is crucial because adjusters may use anything you say against you. We have years of experience negotiating with insurance companies and can do so on your behalf.
When Should You Accept a Settlement Offer?
Having a full understanding of your injuries and their impact on your life helps accurately determine your claim’s worth, so you should be well into recovery before accepting a settlement offer. Additionally, contacting a lawyer before accepting an offer can help you avoid making errors and significantly increase the likelihood of securing fair compensation.
Contact the Experienced Personal Injury Lawyer at Hollis Law Firm for a Free Consultation Today
The aftermath of suffering injuries in an accident caused by another party’s negligence can be overwhelming, and you may be eager to accept an insurance company’s first offer. However, before doing so, it is imperative to contact a trusted lawyer and consider factors like your claim’s value and what happens when you accept or counter a settlement offer. At Hollis Law Firm, we handle every aspect of your personal injury claim, including negotiations so you can focus on recovery.
We have proudly provided unmatched comprehensive legal services for years, giving us the knowledge, skills, and resources to take on your claim. Our seasoned attorney considers every detail throughout your claim to negotiate for fair compensation. With our personalized approach and track record of success, you can rely on us to negotiate with adjusters and take your claim to court if necessary. To schedule a free consultation, call us at (800) 701-3672 or fill out our contact form today.
