A settlement offer is a critical part of a car accident claim. The accident victim might be tempted to accept the first settled offer from the insurance company after becoming involved in a car crash. This may be especially true if a victim becomes injured and needs financial assistance due to medical expenses and other bills and payments. Some individuals might have lost their jobs or wages because they could not attend work due to injuries. However, despite the temptation, there are various reasons why you should not accept the final settlement offer. When settling with the insurance company, it is important to have an attorney by your side. An individual should not accept the first settlement offer made by the insurance company due to several reasons.
The First Offer is Lower Than an Individual Deserves
Insurance companies want to earn money. They have to take into account their goals and interests first. Therefore, they do not initially offer to pay the true worth of the claim. Considering this, they make low initial insurance settlement offers. Insurance companies want to fulfill their goals of earning profits by paying out as few claims as possible. Insurance companies strive to pay as little money as possible. Therefore, they use their persuasive powers to convince the accident survivors to accept their low initial settlement offers. However, the accident survivor likely deserves more than the insurance company is offering. Therefore, it will be best to reject the offer.
Accident Survivors Should Demand a Proper Assessment of Their Damages
An accident survivor can only receive a reasonable settlement offer once the damages are accurately assessed. The accident survivors should not trust the insurance companies to do the assessment. Considering this, accident survivors should seek help if expert attorneys to assess their claims accurately. The attorneys will act for the accident survivors’ benefit and consider all the relevant facts before deciding an amount. Good lawyers can also seek the help of experts to ensure that the accident survivors get the maximum possible compensation.
Offer Acceptance is the Final Stage of the Compensation Process
The accident survivors should be aware that they reach the end of the compensation process once they sign the settlement agreement. They won’t be able to negotiate the amount further or file a lawsuit. This is because accident survivors often sign a liability release form. Also, accident survivors can only file a lawsuit after accepting a final settlement in some instances, including fraud and forgery.
Accident Survivor May Be Eligible for Additional Compensation
Accident survivors should wait a few weeks to assess the situation because their losses may appear minimal for various reasons. For instance, they may not have paid heavy medical bills. Also, the accident survivor’s injuries could worsen in the future. Therefore, the accident survivors should wait a few weeks before accepting any offer. It is better to seek the help of an expert attorney who has experience dealing with insurance companies. For further information, please visit websites like NOLO.
