Should I Accept the Insurance Company’s Offer?

When you are presented with an offer from the insurance company, you should not accept it right away, unless a legal deadline is about to run. The most important reason not to settle right away is that it is likely too early to know the full extent of your losses. If you’ve been seriously injured, your lost wages and medical bills will continue to accumulate over time. If you settle your case right away, you will not be able to reopen your case and get compensated for those on-going lost wages and medical bills.

Additionally, if you have been seriously injured, it is too early for your doctors to know the full extent of your injuries. If your injuries do not heal with conservative treatment, it is possible you will need surgery. You could have any number of complications in your recovery. If your injuries are worse than expected, you cannot receive additional compensation if you already have settled your case.

The biggest component in your claim may be pain and suffering. Imagine the difference between the pain and suffering you experience in the first week after the accident versus the pain and suffering you might experience over a lifetime if it turns out you will need surgery down the road and your doctor says your injuries are permanent.

Remember that the Insurance Company is Looking Out for Its Own Interests, Not Yours.

Insurance companies make money when they collect more in premiums than they pay in claims. Their objective is to pay you the least amount of money possible.

The insurance company for the at-fault party will contact you shortly after the accident or incident and may try to pressure you into accepting a settlement. They may imply that if you don’t settle your case right after the accident, you will lose the opportunity to make a claim. That is not true.

The insurance company is used to negotiating. The adjuster ordinarily will not withdraw the offer if you ask for time to think about it. Then, seek legal advice from an experienced personal injury attorney.

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Rob Kline

Rob has extensive experience working with insurance companies and knows how hard they work to pay you little as they can on your claim. Call today for a free, confidential case evaluation and find out if their offer is in your best interest.

(503) 224-6246