Should You Accept an Insurance Settlement?

Should You Accept an Insurance Settlement?

You may be surprised to learn that the overwhelming majority of personal injury cases settle before either party sets foot in a courtroom. That said, accepting a settlement offer is a significant decision, and it’s hard to know when it’s time to do so. Read on to learn more.

How Insurance Settlement Negotiations Work

Like any negotiation, the party that generally throws out the first number is going to start with a low number. There is always the off chance that the other party will accept this low figure because they simply need money quickly. Insurance companies are no different. This is one huge reason why it is helpful to have an expert advocating for you, someone like a personal injury lawyer who handles lots of car accident claims.

Why Time is Crucial

After a car accident, it is literally impossible to know how much your medical bills will end up costing. Experts can estimate based on their experience, but accepting an early settlement offer may not end up covering, for example, the post-traumatic stress disorder you develop once you start driving again, forcing you into costly therapy. You need to consider future medical bills, future lost income, and unforeseen losses like ongoing pain and suffering. Remember, this is a negotiation.                             

On-Going Medical Bills

If you reject the first (or second) settlement offer from your insurance company, yes, it is possible that going to court may be required. Most personal injury lawyers, like us, tend to advise our clients to avoid this if possible. Litigation is very costly, and no matter how strong your case is, there is always a chance that the judge may decide on the insurance company’s side.

Don’t Delay in Contacting Our Beverly Hills California Personal Injury Lawyers

Our passionate Beverly Hills California personal injury attorneys can help you negotiate the maximum settlement possible from your insurance company. If you like, review our testimonials, and then call us at 310.478.5800 or submit our contact form.