4 Things to Know Before Accepting an Accident Settlement Offer

If you have suffered injuries in an accident due to another party’s negligence, you may seek compensation for your losses through an insurance company. While you may assume your insurance company intends to protect you, they often use tactics to undermine your claim and offer you a lowball settlement. Therefore, it is essential to hire a lawyer before talking to adjusters. At Hollis Law Firm, we help you consider crucial factors before accepting a settlement offer, including what it covers, what happens if you accept or counter it, and when you should accept their settlement.

With many years of experience providing exceptional personal injury representation, you can rely on us to negotiate with insurance adjusters on your behalf. We understand the strategies they use during this process and develop a personalized plan to build a strong claim and give you the best chance of achieving the maximum compensation you deserve. Our dedicated attorney always has your best interests in mind and fights tirelessly for your rights every step of the way.

Jump To Section

Hollis Law Firm
LEGALLY REVIEWED BY:
Managing Attorney
Last updated on August 13, 2024

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.

Author
JASON CHAMBERS, JD
Hollis Law Firm

As the managing attorney at the Hollis Law Firm, Jason Chambers leads complex product liability and personal injury litigations, advocating for clients injured by defective drugs, medical devices, and personal injury accidents. The firm, based in Kansas City, represents victims throughout the Midwest and beyond, offering free consultations to those affected by harmful prescription drugs, defective medical devices, and personal injuries.

Jump To Section
Free Consultation

"*" indicates required fields

800-701-3672
800-701-3672
800-701-3672
800-701-3672
800-701-3672
Hollis Law Firm
8101 College Blvd, Suite 260
Overland Park, KS 66210