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3 Reasons to Deny the Insurance Company’s First Offer

Accidents are frustrating to handle, especially when insurance companies try to offer you a settlement that is much less than you anticipated. Insurance companies employ influential tactics with high hopes that you’ll agree to a settlement and move on. Many accident victims are struggling to make ends meet on top of the burden of expensive medical bills; therefore, some are eager to accept any amount insurance companies offer them. 

 Insurance agents are skilled in handling accident victims when they’re in a more sensitive state. Even though insurance companies claim that they’ll protect you if you’re in an accident, most will do everything they can to reduce the value of your accident. Often, they’ll see your situation after an accident as the perfect time to give you a small reward, retrieve your signature, and close your claim. 

Accepting the first offer an insurance company presents is not a good idea if you want to get a settlement that is fair and sufficient to cover your losses. It is understandable that you need money fast to pay for your medical bills, but you must make sure that you’re receiving full compensation, or you may regret it in the future. 

Why You Should Deny the Insurance Company’s First Offer 

It’s best to be prepared for an insurance company to propose a low settlement offer by assembling all the records you have of your out-of-pocket costs and other losses caused by your accident injuries. You’re entitled to deny any offer that’s not just and counter it with one that is adequate. 

Dealing with deceiving insurance agents can be challenging to do alone, but with an experienced personal injury lawyer in Boca Raton, you can make sure you’re not getting the short end of the stick. A compassionate and determined personal injury attorney can help make certain that you’re not receiving an insultingly small amount of money and can also help you understand why you shouldn’t approve the insurance company’s first settlement offer. Besides a lowball offer, here are some other reasons why you should refrain from agreeing with an insurance company’s initial proposition. 

Insurance Agents Don’t Work for You

After you file a claim with your insurance company, it won’t take long for an insurance agent to contact you. The agent will start by asking you a series of recorded questions to investigate what happened in the accident, so it is important to never admit at fault without consulting an attorney first. 

Recognize that the insurance adjuster is employed by the insurance company and will not examine the accident with an open-minded perspective. Instead, the adjuster will try to hold you or another party liable to defend themselves or the insured defendant. In any event, the insurance company will try several avenues to manipulate and minimize your personal injury lawsuit. 

Not All Expenses Will Be Considered 

After your accident, insurance adjusters will keep tabs on your expenses and calculate your damages at the minimum. Hiring a competent lawyer can help you accurately gauge all your losses and expenses after assessing the details of your case. Attorneys can help you recover compensations for several damages including: 

  • Medical bills
  • Rehabilitation and treatment costs
  • Lost income
  • Lost future wages
  • Property damage

Insurance companies will most likely offer you a settlement for any current expenses and losses, but these might not include future hardships you’ll face while recovering and future repairs your vehicle might need down the road. It’s time-consuming to calculate all these costs, but in the end, it is crucial that you are getting fully recompensed or the future of your financial state may be impacted. 

What About the Pain and Suffering You’ve Endured? 

Insurance adjusters will pay you an insignificant amount for basic expenses but will ignore additional compensatory damages related to the pain and suffering you’ve endured. Unfortunately, without an attorney, most insurance agencies get away with this because these types of injuries aren’t as readily clear as physical ones. 

Without a good attorney, the liable insurance company may fail to include the following damages for the pain and suffering you’ve experienced: 

  • Emotional distress
  • Decreased quality of life
  • Physical disability or impairment

If you’ve encountered any of these losses, then you should automatically decline the insurance companies opening offer. You must fight for an equitable and comprehensive compensation that considers all losses and future losses. 

How to Counter a Low Insurance Settlement Offer

Once you receive the first settlement offer, you are entitled to counteract the settlement with a more favorable one. The first thing you should do is analyze what the insurance adjusters’ damages cover and what you’ve recorded. If the insurance company is far off from the amount your eligible for and you cannot come to an agreement, then you should formulate a professional letter that clearly states the following: 

  • The initial offer is inadequate
  • Disprove the adjusters’ statements that are inaccurate
  • Recite an adequate figure
  • Provide an explanation as to why this figure is applicable
  • Include documentation of all bills, receipts, and time off from work

You should avoid expressing anger in your letter and be aware of how many times you go back and forth discussing suitable settlements. The last thing you need is for the delay to interfere with the time limit that is outlined in Florida Statute of Limitations for filing a personal injury claim. If negotiation techniques continue to present complications, you should hire a professional attorney to help you demand a higher settlement offer. 

Choose a Board-Certified Personal Injury Attorney in South Florida

If you were offered a settlement that was displeasing, you may benefit from the assistance of an experienced Board-Certified Civil Trial lawyer like Robert Baker, Esq. of Baker Legal Team in South Florida. Insurance companies are likely to get more serious about responding to your claim when you have an accomplished attorney on your side. 

Robert Baker of Baker Legal Team has more than 30 years of experience handling complex claims and tricky insurance companies. His competence has allowed him to successfully obtain over $250,000,000 in compensation for his clients, securing him top awards and highly rated reviews from the Million Dollar Advocates Forum. If you’re ready to seek compensation, take action today by contacting Robert for a free consultation. Visit our website to complete a contact form or call the office today at (561) 320-0000.

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