Managing Partner
Once you accept a personal injury settlement offer from an insurance company, you can’t go back and ask for more compensation. This can seriously and negatively affect the value of your claim. Every victim should speak with an experienced attorney before accepting the offer.
If you’ve received an offer from the insurance company or have been in contact with them, pause and reach out to a knowledgeable Long Island personal injury law firm. Dell & Dean, PLLC takes a look at some reasons you should not immediately accept an offer.
Reason 1: The Insurance Company is Not Looking Out for You
When you talk to a claims adjuster or other insurance representative, the individual may sound sympathetic. You must remember, however, that the insurance company is watching out for its bottom line. Despite what they say, they are not concerned with your interests.
Therefore, speak with a Long Island personal injury attorney if any of the following occur:
- A quick settlement offer: If it seems like the offer to settle came too quickly, it probably did. There’s a good chance the offer is too low (see below) and the insurer just wants to be done with your accident.
- Pressure to accept the offer: Along with the settlement offer you may start receiving pressure to settle. Stating or implying that it’s the best offer you’re going to get is a common tactic.
- Requesting a recorded statement: The insurer may ask you to give a recorded statement. You should not. This is designed to get you to say something on the record that can later be used against you.
- Downplaying your injuries: If at any point the insurance company starts downplaying your injuries, this should be taken as a red flag. There’s no reason, at this point, to prove to them how badly you were hurt; just talk with a Long Island personal injury lawyer.
Reason 2: Insurers Almost Always Start With an Unreasonably Low Offer
It’s likely that the initial offer from the insurance company will be low. And it may remain low even if you continue communicating and negotiating with them. There’s a simple explanation for this: If the insurer thinks you won’t talk to a lawyer, there’s no reason to offer more.
The last thing the insurance company wants to deal with is an accident victim who has legal representation. This explains quick settlement offers, pressure to settle, and low-ball offers. Remember, the less money insurance has to pay out, the higher its profits will be.
Reason 3: Your Injuries Could Turn Out to Be Much Worse
You may not think your injuries are serious at first. But in the ensuing weeks and months, they could worsen. Hidden injuries, such as internal organ damage, may not show up right away. That’s one reason insurance companies prefer quick settlements in Long Island accident cases.
Once you sign a settlement offer, you waive any future legal claims you may have had related to the accident. It’s then very difficult, if not impossible, to ask for more money. This means you’ll be responsible for medical bills and other losses if your injuries worsen.
Reason 4: The Offer Might Not Include Non-Economic Damages
Insurance company offers don’t always include non-economic damages like pain and suffering, emotional distress, and reduced quality of life. But these are real losses that victims experience. And the good news for victims is that they can receive compensation for them.
However, don’t expect the insurance company to offer it. And even if they do offer to cover non-economic damages, the amount may not be what you deserve. This is why having a Long Island accident attorney review your settlement offer is the best step forward.
How Dell & Dean Can Help
We don’t work for the insurance companies, and we don’t accept their word as final. We take the time to investigate how the accident happened, who may be liable, and what the evidence is. Most importantly, we make an effort to recover the full value of victims’ losses.
We can explain more about how insurance works and what you need to know about compensation for your injuries. Then, we can get to work fighting for you. Learn more today by giving us a call or completing our online contact form.
