When you are the victim of a car accident, you might not know what to do next. You could be overwhelmed with mounting medical bills and other expenses, possibly at a time when you are unable to work because of your injuries. For this reason, if the insurance company for the at-fault party responsible calls and promises money to resolve your claim if you just sign here, it is only natural to wonder, “Should I accept a settlement offer for my car accident?”
Insurance Companies Count On Your Inexperience
While it may be tempting to say yes to what appears to be a quick fix to your financial woes, it is generally not a good idea to accept the initial settlement offer from an insurance company. This may be your first car accident, but it is almost certainly not the first for a veteran insurance adjuster, who may have negotiated hundreds of similar claims or more.
Insurance companies count on your inexperience to put you at a disadvantage in any settlement negotiations. A capable adjuster will know the ins and outs of the claims process, what a case might be worth, and how little can be offered to make a claimant go away. What may seem like a good settlement offer to you might actually be pennies on the dollar to the insurance company.
This is especially true when an offer arrives very soon after your car accident. An insurance carrier has an incentive to resolve your case before you complete treatment or even know the full extent of your injuries. Accepting the company’s offer may legally release its insured from further financial responsibility, leaving you on your own for the remainder of any damages you incur, including:
- Past, present, and future medical bills
- Lost wages and benefits
- Pain and suffering
- Travel and other out-of-pocket expenses
- Long-term care costs
- Loss of consortium
- Diminished enjoyment of life
- Permanent disability
A settlement offer may seem like an easy solution to all your problems. Unfortunately, it may actually end up solving the insurance company’s problems instead.
Obtain The Settlement You Deserve
To make sure that you obtain what you truly deserve when you are injured in a car accident, do not simply take the first settlement offer or even a settlement check that comes your way. Seek out a knowledgeable legal professional who can help tip the odds in your favor, like the dedicated car accident attorneys at GWC Injury Lawyers LLC.
With more than $2.5 billion recovered in verdicts and settlements, GWC is one of the premier personal injury and workers’ compensation law firms in Illinois. Our highly skilled car accident attorneys have been successfully representing clients just like you for more than four decades. We have the experience, the determination, the resources, and the reputation necessary to get justice for you and your family.<< BACK TO BLOG POSTS