After an accident, an insurance company may contact you with a settlement offer. But should you accept this offer? In general, it’s a good idea to contact a car accident lawyer to discuss this offer before you accept the settlement from the insurance company so you can get the best offer for all of your injuries and damages.
When you receive a settlement offer from an insurance company, the first thing you should do is contact the top car accident attorney in Houston. Only experienced lawyers who understand the value of personal damages and injuries will be able to assess the fairness of your settlement offer.
This is important since many insurance companies tend to make a low initial offer. Many drivers mistakenly accept this low offer, which prevents them from seeking additional compensation if they experience any injury complications or other financial burdens after an accident. Instead, it’s smarter to play it safe by contacting a lawyer, who will tell you whether or not you should negotiate for a better settlement.
There are several reasons why you will want to negotiate for a better settlement. In addition to receiving a settlement that is more appropriate for your damages and injuries, negotiating your settlement offer will ensure that you receive adequate compensation for all of your damages – including non-economic damages.
In general, economic damages are related to the financial costs you may experience after an accident. For example, economic damages can include lost wages, personal property repair costs, and medical bills. Non-economic damages are related to the emotional distress you may experience after the accident, particularly if you become permanently disfigured or disabled. You will need to negotiate with the insurance company to receive compensation for non-economic damages.
Insurance companies may make initial lowball offers for several reasons. Usually, this is not because the insurance company is malicious and wants to prevent you from receiving the compensation you deserve for your injuries. Much of the time, the insurance adjuster working on your case may not have all the information about your injuries or property damage to offer a better settlement.
This is why it’s so essential to file your insurance claim quickly and to make sure that the claim you file includes all the damage you have sustained from the accident. If you leave out any information, such as the extent of damage to your vehicle or the severity of your injury, then you will receive a lower offer than you deserve.
There are many actions a lawyer can take to help you get the best possible settlement from the insurance company. For example, if a lawyer determines that the settlement offered by the insurance is not adequate for your injuries and damages, they will reject the first offer to start negotiations.
During this time, a lawyer will gather evidence to prove to the insurance company that you deserve full compensation for all of your injuries and damages. If your lawyer is unable to finalize your settlement through negotiation, then your lawyer will file a lawsuit to settle your insurance claim in court instead.
Ideally, the best time to settle an insurance claim after an accident is when you have healed as much as possible from your injuries. When you wait to finalize your settlement until after a physician has determined you are medically recovered, then you will ensure your settlement will compensate for all of your medical bills.
The exception to this rule is when you have a medical condition, such as a permanent disability, that will require ongoing treatment for the foreseeable future. In this case, your lawyer will calculate the estimated cost of your future medical bills and use this figure to negotiate your settlement with the insurance company.
In some cases, drivers who file a claim with their insurance company may be denied. Usually, an insurance company will only deny a claim if there are liability issues related to the car accident. When this happens, you will need to hire a lawyer who will help you file a formal petition against a denied claim. It’s likely you will only receive compensation for your injuries and damages if your case goes to court.
Sometimes, insurance companies make lowball offers simply because they do not have enough information about your claim. Whether or not you think your settlement offer is fair, it’s always a good idea to ask a car accident lawyer to assess your offer before you accept. By doing so, you will ensure that you receive adequate compensation after your accident, including for future medical bills.