What To Know About A Low Insurance Settlement Offer After Your Car Accident
Did you receive a settlement offer from an auto insurance company to compensate you for your injury and are surprised about how low the settlement is? Here are some things you need to know about that offer and what you can do about it.
Why Insurance Companies Make Low Settlements
When you are dealing with an insurance company, it's important to know that they are a for-profit business. They make their money from people paying their premiums and from paying out as little as possible when claims are made. This is in the direct opposite of your interest, which is to receive as much compensation as possible to recover the full damages for your injury. This means that every time you deal with an insurance company, they are going to be adverse to your interests and try to save themselves as much money as possible.
How Insurance Companies Take Advantage Of The System
How many times in your life have you made a claim with an insurance company? It is likely that you've never done this before and are approaching the situation with no information about how the insurance claim system works. This can cause people to make mistakes with how they file their claims and what information they give. Meanwhile, insurance providers handle thousands of claims every single day and know all of the ways that they can work against you to justify delaying or denying your claim.
For example, the insurance provider may ask you to make a recorded statement about the accident, and this statement can be used against you to limit the amount of damages that the insurance provider has to pay. They may even try to get information out of you that they know will hurt your case and save them money. Insurance companies also delay cases for as long as possible, putting you in a situation where you are willing to settle for less just so that you can move on and receive some sort of compensation.
Why You Need To Work With A Lawyer
Dealing with insurance providers is a reason why so many people turn to a personal injury lawyer when dealing with an injury-related insurance case. You want someone on your side that has experience and will fight on your behalf, which will give you the best chance of receiving what you are owed from the insurance provider. A lawyer can also keep your expectations realistic and let you know when to keep fighting and when you should accept a settlement offer.
Talk to a car accident lawyer for more information.