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Your Options When the Insurance Company Offers You a Low Settlement

Being injured in an accident can be traumatic and stressful. These feelings can be amplified when you receive medical bills in your name that you can’t afford to pay for. The good news is that you have the right auto insurance, so your insurance company should cover all your expenses, right?

Unfortunately, the claims process rarely goes this smoothly. Because insurance companies are businesses, their primary goal is to maximize their profits. Oftentimes, this means reducing the value of claims or denying them altogether. This means that injury victims are denied the compensation that they need to heal.

Before you take a settlement offer or even speak with the insurance company about your claim, here are a few things to keep in mind to ensure that you receive the compensation you deserve.

Don’t Settle Too Early

We understand that there are many valid reasons why car accident victims would think it’s in their best interests to settle early. Unfortunately, much of this has to do with the insurance company purposefully using misleading or sneaky tactics to persuade individuals in vulnerable situations that it’s in their best interest to settle:

  • The offer will soon be off the table. The insurance company may directly or indirectly communicate that their settlement offer won’t last long and that it’s in the claimant’s best interest to take it as soon as possible.

  • It’s the most they are going to get. The insurance adjuster investigating your claim may try to play it off like it’s the most you are entitled to; they may act like they are doing you a favor with their offer and try to convince you not to hire an attorney.

  • There will be more delays if you don’t settle. One of the most common tactics used by insurance companies is to purposefully delay the claims process in order to get injury victims to skip negotiations and settle quickly.

The Importance of Calculating Full Damages

Many injury victims just want to settle quickly so that they can move on with their lives. However, keep in mind that settling for a lowball offer can be detrimental to your recovery. If you accept a settlement that is less than your total past, present, and future damages, you may be left with out-of-pocket expenses once your award amount runs out.

Once you accept the insurance company’s offer, there is no going back later to fight for more. Ultimately, hiring an experienced car accident attorney is imperative in order to ensure that you don’t accept anything less than what you deserve and accurately calculate total damages for:

  • Medical expenses

  • Ongoing medical treatment

  • Possible surgeries

  • Physical therapy

  • Long-term or lifelong disabilities

  • Lost wages or lost earning capacity

  • Emotional trauma

  • Pain and suffering

Negotiating On Your Behalf

When the insurance company offers you a low settlement and you don’t know what to do next, The Odierno Law Firm is here to stand in your corner. We will review your case to calculate your total damages and negotiate with the insurance company on your behalf. If the insurance company refuses to settle on what you deserve, we are prepared to go to trial with you and protect your rights in court.

For over 40 years, our legal team has passionately advocated on behalf of injury victims across Long Island and the surrounding areas. As a client working with our firm, you can be confident that your case is in capable, experienced, and caring hands.

For dedicated representation and experience that you can count on, contact The Odierno Law Firm, P.C. at (631) 250-4212 for a free consultation!