Think twice before taking the initial settlement after an injury

On Behalf of | Oct 21, 2022 | Personal Injury

You make payments every month on your insurance policy so that you can have a certain peace of mind even when a devastating injury occurs. After an accident, you should be able to expect that you will receive the compensation you deserve from your insurance provider or that of the liable party responsible for your damages.

However, there are red flags to be aware of before accepting the initial settlement offer after filing a claim. Even if you would rather trust in the good faith of your insurer and put the accident behind you, you should consider the possibility that you might be eligible for greater compensation than the insurance company lets on.

How can you tell when an insurer is lowballing you?

Insurance companies are in the business of making money, so it can actually be suspicious when they are willing to provide a payout too quickly. It is good practice to seek medical consultation before accepting an insurance settlement, as a thorough evaluation of your injury might reveal conditions that can qualify you for further financial support. An offer that does not adequately cover your treatment might be a lowball settlement, and familiarizing yourself with the terms of your insurance policy can help you recognize other red flags as well.

How can you receive a fair settlement?

Collecting evidence proving that an accident and the resulting injuries qualify for further compensation according to the terms of your agreement will help you make a solid counteroffer against the insurer. If necessary, you can pursue litigation in court.

The compensation you receive from insurers after an accident might be your only reasonable means of paying for the treatment you need. Your livelihood and overall quality of life may depend on your ability to advocate for the financial support you deserve.