After an accident, many people are eager to obtain closure around the insurance claim so they can move forward with property repairs or paying medical expenses. To move the process forward, they often accept the initial personal injury settlement offer that is made to them by the insurance company. This is a mistake.
An insurance company is a for-profit business. It is in their best interests to pay out as little as possible. It is very common for insurance providers to offer a low amount, hoping you will take the personal injury settlement offer, allowing them to close the claims file and move on with as little loss as possible. Unfortunately, this approach puts the injured party at a disadvantage, providing them with less compensation than they may need to recover from the accident.
It is well within your rights to reject the settlement offer made by the insurance company. Below, we share five reasons why you may decide to say No to that initial offer.
Early acceptance of personal injury settlement offers always favor the insurance company, not the injured person. Insurance companies count on victims needing early access to settlement money to make lowball offers.
Remember, you have the right to speak with an attorney before accepting an offer. A personal injury attorney can help you determine all of the damages suffered and the appropriate claim amounts and will handle negotiations on your behalf. They are also very practiced at dealing with insurance company tactics.
When calculating fair compensation for accident injuries, an attorney will consider many factors, including:
Using the list above as a guide, it is easy to see how an early settlement offer could not possibly include all of the potential costs incurred by a victim due to an accident injury.
The personal injury attorneys at Eisenberg Law Offices help accident victims throughout Wisconsin obtain fair and accurate compensation for their injuries. We use our experience with insurance company practices to maximize compensation for our clients, handling negotiations for them and representing them in court, if need be.
We offer free case consultations and do not charge our clients any fees unless we win a personal injury settlement for them. If you were injured and have been presented with a settlement offer from an insurance company, or expect to receive an offer, contact our team in Madison, Wisconsin to discuss your situation.
Call 608-256-8356 or email firstname.lastname@example.org to arrange your free consultation.
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The Information Contained In This Site Is Not Intended To Provide Legal Advice. Please Consult An Attorney To Discuss The Facts Of Your Individual Situation. Eisenberg Law Office, S.C. 308 E. Washington Ave., Madison, WI 53703 USA (608) 256-8356