Why You Should NOT Accept an Insurer's First Settlement Offer

If you were recently injured in a car accident, it is not uncommon for the other driver’s insurance company to offer you a lump sum settlement. While accepting the first settlement may make sense from a financial perspective because of the losses you suffered from the collision, you have plenty to gain by taking your time and determining the best available legal options in your case. 

The following are several reasons why you should NOT accept an insurance carrier’s initial settlement offer: 

  • The insurance company is looking out for its own best interests – When you file a claim, an insurance adjuster will investigate the accident, figure out the value of your damages (e.g., property damage, medical bills, lost income, etc.), and then make you an offer. Unfortunately, this individual has the insurer’s best interests in mind—rather than yours–and he/she is committed to saving the company money.  

  • You will receive a lowball offer – The adjuster’s goal is to provide the lowest possible settlement, which would be significantly less than what you deserve. Try to educate yourself about personal injury settlements and figure out the estimates of what you are entitled to by looking at any documentation related to all expenses associated with the crash. 

  • Accepting the offer is final – Once you sign the dotted line, the offer is considered final, which means you cannot recover any additional funding–even if there is new documents or evidence that would result in more compensation, or you sustained a permanent disability that requires long-term care. 

One of the most important steps you must take before accepting any offer is to hire an experienced personal injury attorney to determine the true value of your damages. At Zayas Law Firm, our legal team has more than 44 years of combined experience in maximizing awards and settlements on behalf of our clients in Hartford and throughout Connecticut. 

If you or a loved one has been injured in a crash in Hartford or within the surrounding area, contact us today at (860) 278-0820 for a free consultation. Available 24/7 by phone! 

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