Deciding whether or not to accept an insurance company’s offer is difficult. You most likely want to resolve the situation quickly and move on with your life.
Remember that insurance companies focus on lining their pockets. They also want to avoid litigation. So, their initial offer may not always be in your best interest. When you accept their first offer, you risk a lower amount of money than what you need.
This is where an experienced car crash settlement attorney makes a difference.
Understanding the Average Car Accident Settlement Offer
After a car crash, you expect fair compensation. Medical expenses, lost wages, and property damage all affect your settlement.
Current and Future Medical Expenses
The severity of your injuries determines fair compensation. For example, higher settlement amounts typically include costs for medical treatment and long-term care. At Alexander Shunnarah Trial Attorneys, we’ve reached a settlement of over $1 million in a car accident case. Our client required multiple surgeries.
Lost Income and Future Opportunities
After a car accident, you most likely need to take time off to recover. Insurance companies tend to undervalue lost wages and job opportunities. When you hire a car accident lawyer, they can help you understand the long-term impacts of your injuries.
Property Damage
Your compensation amount can also include any property damage. Examples of property damage include totaled vehicles, destroyed electronics, or injured pets.
Pain and Suffering
Estimating the financial total for pain and suffering is difficult. Insurance adjusters will try to minimize your emotional stress for a smaller dollar amount. But that shouldn’t sway you or your attorney.
The Risks of Accepting the First Settlement Offer
Insurance companies will try to rush you into accepting their first settlement offer. You don’t need to fold. When you accept that initial offer, you risk accepting inadequate compensation and waiving your right to future claims.
Inadequate Compensation
The first settlement offer may not cover all you need. Insurance companies love to minimize medical expenses, lost wages, and emotional stress. By accepting a low offer, you settle for an amount that doesn’t reflect your claim’s true value.
Waiving Future Claims
Accepting a settlement is final. Without an experienced personal injury attorney, you might overlook long-term medical possibilities and other risks. Don’t waive your right to future claims just to leave money on the table.
Future Medical Costs
Some injuries require ongoing medical care, like physical therapy. If you accept a lowball offer, you may pay for these expenses later. One of our experienced car accident attorneys could ensure your settlement includes compensation for future medical costs.
How a Car Accident Lawyer Can Help You
Navigating the world of car accident claims is overwhelming. You need someone to guide you and fight for you at the negotiating table. An experienced lawyer could shape the outcome of your claim.
Evaluate Your Claim
A car accident attorney will thoroughly assess your case. By reviewing the economic and non-economic damages, they can determine your claim’s true value.
- Economic damages are measurable financial losses, like medical bills, lost wages, and property damage.
- Non-economic damages are harder to measure. They typically include pain, suffering, disfigurement, and a decreased quality of life.
Negotiate with Insurance Companies
Even after that first offer, insurance companies will try to underscore your claim. Hiring a lawyer levels the playing field. They can counter lowball offers and negotiate for fair compensation.
Provide Other Legal Support
Negotiations don’t always lead to a settlement. If necessary, your attorney will fight for you in other ways.
- Mediation is an alternative way to resolve disputes. A non-biased third party works with both sides to reach an agreement.
- Your attorney might file a lawsuit (litigation) if negotiations and mediation fail.
- If your case moves to trial, and you are dissatisfied with the verdict, you may appeal.
Always Consult a Car Accident Attorney
Navigating car accident claims and insurance settlements without a lawyer is challenging. Attorneys protect folks like you from greedy insurance companies. They calculate the value of your claim, negotiate settlements, and advocate for you in court.
Don’t leave money on the table. Schedule your free case review today.
