If you have brought a car accident claim with the insurance company of the driver responsible for your accident, you may be getting settlement offers from the company. Accepting their initial offer may be tempting since you cannot go to work because of your injuries and you have trouble paying your medical bills.
A car accident attorney in Vegas will always advise against accepting initial settlement offers from insurance companies. These offers are decisions made by insurers quickly, without considering the true extent of your injuries and their impacts on your life. Not being able to recover maximum compensation can leave you with medical debts you cannot pay out of pocket. As a result, you will have to stop treatment before your injury has fully healed. This health situation along with financial troubles is just too much. So, before you accept a settlement offer, consider the following first:
The Extent of the Damages You Sustained
When you negotiate a claim settlement with an insurance provider, you must consider the extent of your damages including your injuries, lost income, and vehicle damage. The insurer may make a quick offer before you can see a doctor. When you accept the offer, you give up your right to further compensation. You won’t be able to tell how serious your injuries are early in the process.
In addition, you may not be aware of your eligibility for emotional damage. The initial offer from the insurer won’t account for this damage.
Your Long-Term Needs
When an insurer determines the amount to offer you, they do not take into account your long-term care costs. If you have sustained a serious injury that requires extensive medical care, you won’t be able to secure compensation for these expenses when you settle your claim early.
Your Counteroffers
After you get a settlement offer from the insurance company of the at-fault driver, you can always make a counteroffer. Your lawyer can also do it for you. The first offer from the insurer only initiates the negotiation process. The company may get you to think their first offer is the only one they will make. But this is usually not the case.
If the insurance company continues to make lowball offers during negotiations, you can decide to file a lawsuit. But before you end up in court, negotiations can continue even if you have filed a lawsuit. Your attorney will try to secure the best settlement, but can always represent you in trials if necessary.
