Should I Accept the First Settlement Offer?

The personal injury claims process can be complicated and have injured individuals wanting to expedite the process as much as possible. In many instances, this may result in them accepting the first settlement offer from the insurance company. However, this is frequently cautioned against as it may not be the best possible offer one could receive. Read on to learn why.

Beware of the “Low Ball”

It’s not uncommon for a first offer to be significantly less than what an injured individual actually needs to recover from their injury. Since an insurance company is ultimately a business, they often will initially “low ball” claimants who don’t know better.

When you work with an experienced personal injury attorney, one of their goals is to ensure that you receive the best possible offer— even if that means rejecting the initial one and going to a trial. It is always recommended to contact an attorney prior to accepting any settlement offer.

How Do I Reject a Quick Settlement?

If you’ve already been tempted by a quick insurance settlement, it may not be too late to back out. In most cases, if you have not yet signed any paperwork or accepted the check, you can still reject the offer. However, you should be cautious that the insurance company may not make the same offer again.

Once you’ve rejected the first offer, it likely will increase. If you are still not satisfied with this new offer, your attorney can negotiate on your behalf to get you an even better settlement. If an agreement still cannot be reached, then your case may have to go to court.

How a New York Attorney Can Help

Don’t be persuaded into a low settlement by an insurer trying to take advantage of your state. Our New York personal injury firm has helped several clients obtain settlements of over $1 million for their injuries and will work to ensure you receive the compensation you deserve.

Schedule a free consultation with our team today by calling (888) 365-4940.