After an accident, you might be overwhelmed by medical bills and other financial needs.
Because of this, you might be in a hurry to accept a settlement offer after the accident without considering various factors. Doing so could lead to regret and loss of fair compensation.
If you are asking yourself whether to accept the first settlement offer by the at-fault party after an accident, here are some reasons why you shouldn’t.
Why You Should Reject the First Settlement Offer
In accident cases, the defendant or the insurance company will try to make the settlement as low as possible and as quickly as possible. This is done with the intention of closing the claim as quickly as possible.
Here are reasons why you should reject the first offer.
1. Low Compensation
In most instances, the at-fault party will try to pay you as little as possible. Their main aim in offering a quick settlement for your injuries is that they may not want to compensate you fully.
You should always refuse the first offer and seek legal action against the defendant to ensure full payment. An experienced lawyer can help you determine the value of your case.
2. Uncertainty About the Injuries Sustained
Immediately after the accident, you may not be fully aware of all the complications that could arise from the injuries. For this reason, you shouldn’t accept the first settlement offer that the insurance or defendants offer you.
Instead, reject the offer and take your time to get a proper medical checkup and make sure that there are no underlying injuries that go undetected. And if there are any, make sure that you are compensated fully.
3. Not Factoring in Pain and Suffering
The initial offer from the defendant will, in most instances, not factor in aspects like pain and suffering. Most defendants and insurance firms tend to want to pay as little as possible. They may use various tactics to make you accept the lowest offer possible.
You have to make sure that pain and suffering and loss of earning potential due to injuries sustained are paid for in full. In most states, the judge will consider emotional issues arising from an accident if provided with the right evidence.
4. Negotiation Tactics
Rejecting the initial settlement offer could be a tactic for you to seek better compensation. Talk to your attorney to determine the extent of your injuries. If the offer doesn’t match that, you can seek more compensation. While this might require you to file a lawsuit, it is worth it instead of accepting an inadequate offer.
Tricks That Defendants or the Insurer Might Use to Pay Less
To avoid being paid a settlement amount that is less than what you deserve, you need to be aware of the tricks that the defendant or insurer may use to make you accept a low amount. These tactics include:
- Delaying Your Claims: Insurers will delay your settlement with the intent of making you accept a lower offer. For instance, by making you wait, you might get frustrated and decide to accept their first settlement offer.
- Recording You: When going about your accident claim, avoid any contact with the insurance firm’s lawyers, who may use cunning tactics of recording you with the aim of reducing your compensation. Even a simple “I am fine” when replying to their “How are you?” can ruin your chances of getting full compensation.
- Denying Your Claim: Insurance firms may argue that you were liable for the accident. Always make sure that you gather all the evidence that can help you counter such claims. This increases your chances of a successful accident claim.
Hire an Accident Lawyer
You might fall short of money and end up regretting accepting the first settlement offer. To avoid such regrets, hire an experienced accident lawyer to help you get a full settlement for your claim.
