Do I Have To Accept The First Settlement Offer After An Auto Accident?

car accident

Auto Injury Lawyers Rochester, Minnesota

Car accidents can be traumatic and debilitating. When you are injured because of someone else’s negligence, it can make the entire accident and everything that follows even more overwhelming. You should not have to pay any out-of-pocket expenses for any damages you have incurred as a result of the other driver’s negligence.

In this type of situation, you will likely rely on the negligent driver’s insurance company to cover your damages and expenses. If the other driver’s insurance company does offer you a settlement, you do not have to accept the first offer they extend to you. In fact, it will be in your best interest to not accept the first settlement offer from the negligent driver’s insurance company.

You Do Not Have To Accept The First Settlement Offer

It is important to remember that an insurance company is a business. The insurance company wants to make money instead of paying out money. Insurance companies will profit when they avoid payouts or when they can reduce the amount of money they do pay out.

The insurance claims’ adjuster does not work for you; the insurance adjuster works for the insurance company. The job of the insurance company is to settle the case quickly and for the least amount possible. To determine the amount of your settlement, the insurance company will ask for a variety of questions — and will typically offer you a small settlement compared to what your claim is actually worth.

Insurance companies want to protect their bottom line, and this is one of the reasons why they offer low settlements. Before you agree to an offer from an insurance company, you are advised to speak to an experienced car accident attorney.

First Settlement Offers Will Not Account For All Your Needs

Some injuries after an accident can be more complicated and severe than you initially believe. Unfortunately, this can lead to surgeries, rehabilitation, and treatment that you were not anticipating. When the insurance company makes its first offer to settle a claim, it will not take all current and future expenses into account. Insurance companies are aware that many car accident injury victims do not always think about long-term needs after an accident.

The insurance company may rush to make its initial offer before you have the opportunity to be evaluated by a doctor. Accepting a settlement offer before you have been medically treated may leave you with expenses that need to be covered, including the following:

  • Surgery
  • Physical therapy
  • Treatments
  • Hospitalization
  • Rehabilitation

If you do not know the extent of your injuries and how impactful they may be moving forward, it will not be easy to assess the true worth of your auto accident claim. Not only will you have to account for the costs related to your injuries, but you will also need to think about your future needs, lost wages, pain and suffering, and more. It will be best to wait until you have completed treatments or received a diagnosis before considering a settlement offer.

Higher Offers Can Be Made

You may think refusing to accept the first settlement offer from the insurance company will not be a wise choice, especially if you have already found yourself with rising expenses. However, insurance companies will rarely make an initial settlement offer that indicates the real value of your personal injury claim.

You do not have to accept the first settlement offer; the insurance company will likely make another settlement offer at an increased value. Once you refuse to accept the first offer from the insurance company, you will be on your way to more negotiations. The insurance claims’ adjuster may tell you he or she is not able to increase the settlement offer, but this is not true.

An experienced personal injury attorney will be familiar with this strategy and can ensure you negotiate with the insurance company to increase the offer so you can receive the compensation you deserve.

If you are injured in a car accident caused by a negligent driver, the negligent driver should be held accountable. Before you engage with an insurance company, contact Patterson Dahlberg Injury Lawyers today at  507-424-3000 or 612-474-3000 for your free case evaluation.