Car accident insurance settlements can greatly affect your financial future following a collision. An adequate settlement can relieve your financial stress, but an insufficient settlement can leave you with unnecessary and ongoing burdens for years.

One way to ensure you do not get an inadequate settlement is to never take the first offer without legal advice and representation. Always consult an experienced car accident attorney who can evaluate your case and determine how much compensation you deserve.

You should consider accepting a settlement only after a complete legal evaluation and negotiations. Your car accident lawyer will protect you and ensure you never accept less than you need to cover your losses.

Why the First Auto Insurance Settlement Offer is Usually Very Low

After a car accident injury, the other party’s insurance company may make a settlement offer soon after the incident. This might seem promising until you realize the initial offer will not pay you what you deserve.

Insurance companies want to settle quickly and for as little money as possible to protect the company’s bottom line. These companies know claimants are often in difficult financial situations and eager to receive settlement checks. Claimants might jump at the chance to take any settlement offered, which is why insurers typically offer a low amount upfront.

Insurance companies are skilled at minimizing settlements and convincing unrepresented claimants to quickly accept. Don’t let them take advantage of you, and don’t accept a first offer. Consult a trusted car accident attorney who will fight for your rights and seek a fair settlement that reflects the true value of your case.

First, accepting a low settlement offer means you might not receive the compensation you need for your injuries and damages. As mentioned, the first offer is usually intentionally much lower than you deserve. By accepting their initial offer, you will likely leave money on the table needed to cover medical expenses, ongoing treatments, lost income, and pain and suffering.

Further, accepting an insufficient settlement offer generally prevents you from seeking further legal action in the future. Once you accept a settlement, you typically waive your right to file a lawsuit or pursue additional compensation for the accident.

If your injuries worsen or new complications arise, you cannot seek additional damages. You must carefully assess the full extent of your injuries and consult an attorney who can evaluate the long-term impact of the accident on your life. This ensures you demand compensation that covers your full range of losses for now and the future.

While accepting an insufficient settlement offer may seem like a quick resolution, it can have lasting consequences. These consequences can be avoided with the right legal representation. Remember, your health and financial well-being are worth fighting for. Don’t settle for less than you deserve.

The Importance of an Attorney in Car Accident Settlements

After a crash, you are in no position to attempt the legal process on your own. Always put your claim in the hands of a trusted car accident attorney.

One of the main reasons to hire an attorney is that they know how to evaluate the full extent of your damages. While the first settlement offer from the insurance company may seem tempting, keep reminding yourself that the insurer’s goal is to settle for the lowest amount possible. You cannot trust insurance adjusters to account for all your losses and accurately value your claim.

On the other hand,  your attorney will fully consider the severity of your injuries and their effects on your life.

They will consider your:

• Medical expenses
• Estimated future medical needs
• Lost income
• Future lost earnings if you cannot return to work yet
• Property damage
• Pain and suffering
• Mental trauma

Your car accident attorney will ensure no losses go unaccounted for or undervalued. This ensures you have adequate financial support moving forward from the crash.

The Role of Negotiation in Car Accident Settlements

Negotiating a fair settlement can be a difficult task, especially when dealing with insurance companies that prioritize their bottom line. Insurance adjusters are skilled negotiators who try to undervalue your claim or shift blame onto you. Having an attorney handle your negotiations will level the playing field and protect your rights and interests throughout the process.

An attorney will diligently review all the details of your case, including medical records, accident reports, and any other evidence that supports your claim. They will use this information to build a strong case and negotiate with the insurance company on your behalf. Their goal is to secure a settlement that adequately compensates you for your injuries, damages, and losses.

When the insurance company makes a settlement offer, your lawyer will review it in light of your losses. They will advise you whether it is fair or not. You make the decision to accept the settlement or not, taking your car accident attorney’s guidance into account.

If the offer is not favorable, it is not the end of the road. Your lawyer can present additional evidence and arguments to continue negotiating for a higher settlement amount. Most claims settle with the insurance company after a few rounds of negotiations.

In some cases, insurance companies will not cooperate. They might dispute liability, challenge the severity of your injuries, or simply refuse to offer enough compensation.

In such situations, your car accident lawyer might recommend filing a personal injury lawsuit in civil court. Having legal representation gives you this leverage.

Don’t Accept a First Offer. Consult a Car Accident Lawyer Today

Never accept a first car accident settlement offer without legal advice, as doing so can jeopardize your future. Instead, seek professional legal representation from an experienced Steamboat Springs personal injury lawyer. Consultations are free, so call today.