Insurance adjusters are quick to offer settlements after car accidents for numerous reasons. As a claimant, you should know what to expect and what it means to seek fair and just compensation for your damages. Even more, you should know that settlement offers are not always what they seem, and they take advantage of your rights more often than not.
Don’t Accept the First Settlement Offer
The first settlement offer often comes soon after the crash occurs, especially if insurance adjusters quickly investigate your claim. They know you are vulnerable and need money fast, so they offer what they deem to be fair.
Insurance adjusters have a goal to save money. The first offer is hardly ever as much as you need. Accepting it means you may not have the ability to cover your losses, such as your medical expenses, lost income, and repair costs.
Why You Should Wait It Out
We know it’s never easy to experience an injury. However, the moment you accept a settlement, you can negatively impact your case. Here are some of the reasons you should avoid accepting the first settlement:
- Insurance companies want to save money: The first settlement offer gives insurance companies an out when paying compensation. They not only pay you less, but if you accept it, they avoid the costs of trial.
- Accepting an offer limits your legal options: If you accept the first settlement offer, you do so in lieu of legal action. You won’t be able to take the responsible party to court to pursue maximum compensation.
Before you accept anything, be sure to speak with a lawyer about your options.
At Pringle & Herigstad, P.C., we work to safeguard your rights. If you suffer injury in a crash because of someone else’s negligence, our North Dakota car accident attorneys will be there to help you. We’re committed to getting you results when you need them most.