Should You Accept the First Offer From an Insurance Company?
Every car accident claim is unique, but the goal is always the same–recover the most compensation possible, as quickly as possible. This is incredibly simple in theory yet extremely challenging in practice, and there is a lot of grey area when it comes to navigating a claim. One of the trickiest examples arises when a claimant is offered a settlement right at the beginning of the claim process.
We will discuss this scenario in more detail below, but we must first mention that a skilled car accident lawyer can answer any questions you may have about the claim process. Van Law Firm is standing by to help at a moment’s notice–call our office nearest you to see how VLF can get you the compensation you deserve.
If the Insurance Company Offers Me a Settlement Right Away, Should I Take It?
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Even though a settlement is desirable, you should almost always decline an immediate offer. The reason for this is that insurers know how enticing the thought of quick money can be, so they will try and lure claimants away from the true value of their claim by getting them to accept much less money up front. The idea of a quick settlement can be extremely persuasive, as most claimants want their case resolved as quickly as possible. Keep in mind, however, that you only get one opportunity to settle your claim, and if you accept a low offer, you cannot go back for more down the road.
The bottom line is that insurers are businesses too, and part of their business is to pay claimants as little as they possibly can–in an ideal world, they’d pay nothing at all. Every claim represents the possibility of losing money, which is why they work so hard to avoid paying full coverage even though they portray themselves as being there for you in your time of need.
The last thing claimants should keep in mind is that not all low settlements are the fault of the insurer. Sometimes, the party at fault may have minimal coverage, and their insurer can only offer as much as their policy allows. In other cases, there are discrepancies of value–for example, if your car is totaled, you won’t get offered the same price you paid for it, as the insurer will argue that the damages should reflect the car’s current value, which is inevitably lower. Situations like these are just one reason why it is so important to retain an experienced car accident lawyer, so that you recover as much as you possibly can.
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If you have additional questions about the settlement process, or would like to schedule a no-cost consultation, simply call the award-winning car accident lawyers from Van Law Firm at your earliest convenience. We have the time and resources needed to take on any case, and with over 500 5-star reviews, our track record speaks for itself. Call our office nearest you now to learn more about how VLF can help.
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