When you’re offered a settlement following an accident, it may seem like an attractive option, particularly when you’re overwhelmed by the financial constraints of a personal injury. However, it’s crucial to avoid accepting an early settlement offer. Many victims make the mistake of accepting a settlement that is significantly less than what they’re entitled to because they do not know their legal rights or the full scope of their injuries. Insurance companies make lowball settlement offers to pay you as little as possible. Therefore, before you hastily agree to a settlement, it’s in your best interest to consult our experienced Santa Clara County Car Accident Attorneys, who can help you negotiate for the full and fair compensation you deserve.
Why Do Auto Insurers Offer Lowball Settlements?
Following an accident, insurance adjusters are quick to approach victims when they’re in a vulnerable position because they want to maximize their profits and avoid a lawsuit. It’s crucial to note that the coverage rates offered by your insurance may only cover a fraction of the costs you incur due to your injuries. Therefore, you may need to pursue legal action against the at-fault party to seek additional compensation for the remainder of your losses. However, if you accept a settlement, you will relinquish your right to pursue a lawsuit. This means you can’t seek additional funds in the future should your injuries exacerbate over time.
It’s important to understand that insurance companies are in the business of making a profit. Therefore, claims adjusters will act like they have your best interest at heart. However, they are only looking out for their employer. During the interaction, they will ask leading questions. They want you to make a mistake by saying something that can minimize their liability to justify offering a lowball settlement or even deny your claim altogether.
How Should I Respond?
When offered a lowball settlement, the most effective way to challenge the insurance company is by seeking quality legal representation. A seasoned Santa Clara County car accident attorney can help determine the full extent of your damages and seek maximum compensation from the liable party. They will be able to guide you through interactions with insurance adjusters to ensure you don’t say anything that could be flipped and used against you to minimize your compensation. They will use their negotiating skills to ensure you receive the just compensation you’re entitled to for your economic and non-economic damages.
If you’ve been offered a lowball settlement, please don’t hesitate to enlist the help of an adept attorney from the Law Offices of Brian J. O’Grady, who can help you fight for the justice you deserve.
