What Should I do When an Insurance Company Offers Me a Settlement Check?
One of the worst parts of being in a car accident is having to deal with insurance adjusters after the accident. You know they aren’t really on your side but they try to make themselves as friendly as possible to coax you into accepting their initial settlement offer. Inevitably, the offer is made before you have even had a chance to receive most of your medical care or had the damage on your vehicle assessed. It’s certainly made before you have had the chance to recover from your injuries. How can you possibly accept an offer before you know the full extent of your injuries and losses?
Still, we sympathize with those who are tempted to accept this initial settlement offer; it’s a stressful time and you may already have medical bills piling up that you are worried about paying for. If you think you will get sucked in by talking to an insurance adjuster, know that you are not obligated to speak to them. (You are required to report your accident to your own insurance company). When you hire a personal injury attorney, they will negotiate on your behalf, deflecting the common tactics commonly used to get injured victims to settle early on.
What Should I do When an Insurance Company Offers Me a Settlement Check?
When an insurance adjuster offers you a settlement right after your accident, you should decline it under the very reasonable assumption that it is a low-ball offer. It’s very important to understand that once you have accepted a settlement offer, you can no longer negotiate, even if you end up incurring more damages from the accident. Your acceptance is seen as a binding agreement; its case closed, so to speak.
The truth is that there is absolutely no reason to settle your injury claim before you have received all medical care and fully recovered from your injuries – if a full recovery is possible. In Washington State, you generally have three years from the date of the accident to bring an accident claim and that means you can wait to settle your case up until the statute of limitations expires. This gives you time to understand the full extent of your medical bills, lost wages, and the pain and suffering you will endure during your recovery.
How should I respond to a low settlement offer?
A low settlement offer can feel like a punch in the gut. Calmly write down the amount of the offer and let the adjuster know that you are not ready to settle. The adjuster will understand this response because the initial offer is always the lowest offer the company feels they can get away with; it should be seen as a jumping off point for negotiations.
Refrain from saying anything about your accident or injuries that could be used against you to further reduce the amount of the offer. Do not let them know if you are upset by their offer; it’s best to keep your emotions hidden in this situation.
If you are calm, it can be a good idea to ask how the adjuster calculated their offer. You can then use the information to help create a strong counteroffer.
Contact a local car accident attorney with the information you have gathered. They can assess your case and identify a fair settlement for your accident claim that will cover your out-of-pocket expenses, lost wages, and the pain and suffering you endured.
Why you should work with a car accident lawyer
Your attorney has the training and experience to handle all negotiations and get you a favorable settlement for your accident. They know all the tricks used by the insurance industry and how to counteract them, which levels the playing field.
The injury lawyer will take on the following work on your behalf:
- Gather documentation of your injuries, medical expenses, property damage, and lost wages along with any other type of evidence that supports your claim such as images of the scene and your injuries.
- Next, your attorney will use the evidence to develop a strong counteroffer for a full and fair settlement. The counteroffer must fit within the limits of the insurance policies, the laws in your state, and the at-fault party’s personal assets; your attorney will ensure that it does.
- Your attorney will help you write a formal response to the initial offer to notify the insurance company that you are rejecting their offer; this is called a demand letter. You will want to include a list of any false assumptions that were made by the insurance company that may have contributed to their low offer. Evidence about the accident, your injuries, and any expenses or lost wages you are dealing with should also be included in the letter.
- Your attorney will handle all negotiations, fighting for an out-of-court settlement, but representing you in a trial if it becomes necessary.
Seek the help of a personal injury attorney
If you or a loved one was injured because of the negligence of another, contact a personal injury lawyer to discuss your legal rights. Let an experienced accident attorney fight for the full compensation that you deserve. It is not uncommon to receive a settlement from the insurance company that is five to ten times larger with the help of a lawyer. Call the personal injury lawyers at Tario & Associates, P.S. in Bellingham, WA today for a FREE consultation! We have been representing residents of Whatcom County, Skagit County, Island County and Snohomish County since 1979. You will pay nothing up front and no attorney fees at all unless we recover damages for you!
