If you were recently injured in an accident, the medical bills are probably piling on and, if your injuries are particularly severe, you might not even be able to work at this time. It might feel like everything is working against you and a settlement offer from the at-fault party’s insurance company probably looks very appealing at this point. Unfortunately, fast settlement offers are often too good to be true. No matter how much you might need the money, accepting an offer too soon will likely end up backfiring on you.
Why Accepting an Early Offer is Risky
Insurance adjusters are often quick to make a settlement offer early on in a case to avoid having to pay what a victim’s injuries are really worth. It might be hard to say no to the money, but the fact is that these offers are generally not enough to cover the basic costs associated with a victim’s injuries. As a result, you will likely end up footing the bill for whatever your settlement fails to cover.
Here are some other reasons why it is dangerous to settle too quickly:
- You do not know what your injuries are worth yet: Settling too early on in a personal injury claim is risky because it often takes time to understand the severity of one’s injuries. Issues that seem minor might become serious health conditions that could pose a risk to your overall wellbeing or require extensive medical treatment.
- The insurance company does not serve your best interests: Keep in mind that the insurance adjuster’s job is to save his or her employer money. The best way to do this is to sometimes make a quick offer. Signing off on a settlement offer means you cannot appeal your case if you later discover that the amount you accepted was nowhere near good enough.
- An initial offer is the jumping-off point for negotiations: Instead of being in a rush to settle quickly, consider the first settlement offer as the point from which negotiations will begin. Your attorney will be able to negotiate a better offer on your behalf, so do not assume this is your one and only chance at obtaining the compensation you need.
Ultimately, the wait will be worth it. If it turns out that your injuries will require ongoing medical care, you do not want to have to pay for the exorbitant medical expenses you will likely face.
Contact an Experienced Personal Injury Attorney Today!
If you were injured in an accident, contact the experienced team at Foley Griffin for the exceptional legal advice you need to successfully obtain the compensation you deserve. Our team will guide you through every step of the way and address all of your concerns.
Contact our law office today at (888) 966-8480 to schedule a free and confidential consultation with one of our esteemed attorneys.