Should I Accept The First Settlement Offer?

Should I Accept The First Settlement Offer?

Car Accident Lawyer

When a car accident occurs due to another person’s negligence, you’re within your legal right to seek compensation. This compensation can cover many factors, ranging from medical expenses, disability benefits, compensation for pain and suffering, and more. Unfortunately, many times, an insurance company may try to deny you a settlement until you have an attorney willing to apply legal pressure. However, this isn’t always the case, and you may even run into an insurance company willing to offer a settlement shortly after you file your claim. However, there are many scenarios when you shouldn’t accept the first settlement. 

The First Settlement Often Doesn’t Cover Enough 

There’s no denying that a car accident can be expensive and mentally exhausting. As such, when you get your first settlement offer, it can be tempting to simply take it. After all, you may have mounting medical debt, and the idea of going through with legal battles can sound exhausting. However, even if a dollar amount sounds promising when you first read it, chances are that the insurance company might be underpaying. Based on the accident, you may even need medical help for years to come, and the first settlement may not even come close to covering that amount. It’s better to consult with a legal party to determine if the settlement is the correct amount. 

The First Settlement Can Be A Tactic

Insurance companies understand that many victims don’t realize how much they’re really entitled to. Some insurance companies use this as an opportunity to simply not bother negotiating or giving out a settlement. Other companies, however, realize that if they don’t give a settlement of some kind, then the injured party may start seeking out legal help. Providing some sort of settlement, however, means a victim is more likely to avoid calling an attorney. 

You’re Likely Entitled to More

There’s a cynical stereotype of lawyers trying to unfairly squeeze out as much money as possible from another party. In most scenarios, however, this doesn’t even begin to line up with the truth. Following a tragedy like a car accident, victims can have significant burdens. The medical system in the U.S. is enough to shackle victims and their families with irreversible debt. Of course, even if a person has all their medical bills paid for, that solution still doesn’t account for missing wages—especially if a victim can never return to work. Lastly, victims receiving compensation for factors like pain and suffering won’t underdo the damage caused but can help them deal with the aftermath. 

An Attorney Will Help You Receive a More Realistic Figure

If an accident only gave your car a few bumps or had you in the hospital overnight, then calling an attorney might not be necessary. However, if the accident means a long road to recovery, then you want to ensure you’re receiving the right settlement—not just one that sounds attractive in the moment. A car accident lawyer can help you decide—something our friends at Patterson Bray PLLC agree with. 

Should I Accept The First Settlement Offer? - Loading broken car on a tow truck on a roadside

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