If you’ve been involved in a car accident and decided to seek compensation for your injuries, you may be wondering when it’s time to accept a settlement from the insurance company. While it can be tempting to take the first offer and walk away from the entire mess, chances are they are offering you a lower amount than you really deserve. Car accidents are stressful, no matter what the circumstances surrounding the incident were. This is true for both the victim and the person responsible for the accident. The victim is in a tough spot because they need money to pay for their medical bills and any lost wages, and the person responsible is faced with a lawsuit they will likely lose. This is why both sides are often tempted to settle outside of court and fast. However, discussing your case with an experienced car accident lawyer in Laredo will give you a better idea of what kind of compensation you may be able to seek by way of a lawsuit.
We often see people in our Laredo office who are offered a settlement from an insurance company shortly after being injured in a car accident. People mistakenly believe they must make a decision quickly if they don’t want to lose out on the money, but that is what the insurance company is trying to do. Unfortunately, insurance companies are notorious for taking advantage of car accident victims, offering them lowball settlements that won’t even cover a fraction of their expenses or loses. Insurance companies are for-profit businesses, which means they will always do everything they can to pay as little as possible. They most certainly do not have your best interests in mind, no matter how much they try to tell you differently.
When is a Settlement Offer Too Low?
So how do you know when an offer is too low? The first thing to remember is that the first settlement offer you receive will always be too low. The insurance company will never offer you what they are actually willing to pay, and that’s a fact. Before you think about accepting a settlement offer, sit down with a lawyer and consider the potential value of your claim. Some factors to consider include:
- How much damage did your vehicle(s) sustain?
- What is the total cost of your medical bills? (Be sure and include an expected future treatment, rehabilitation, and costs)
- Did you sustain any permanent scarring or disfigurement?
- Are you in chronic pain because of your injuries?
- How much work have you missed?
- Are you going to be able to return to work in the same capacity?
- Can you think of any other expenses related to your accident?
The above should give you a good place to start and will help you have a better understanding of how much the accident is really costing you. With the help of a Laredo personal injury lawyer from Green Law Firm, you will be able to negotiate the settlement with the insurance company and receive the compensation you deserve. We know how intimidating this can be and how fearful many people are of losing the settlement altogether, which is why we encourage you to give us a call today so we can get started on your case.