The Dangers of a Quick Settlement After a Car Crash

When you have been hurt in a car accident, you may be facing a myriad of challenges, including recovering from your injuries, getting back to work, and generally dealing with the aftermath of the crash. Unfortunately, things can become even more difficult when the insurance companies get involved.

While insurance coverage is a consideration in virtually every car accident, it is not uncommon for carriers to offer much less than you would need to start putting your life back together properly. Insurance companies are well-known for their “lowball” settlement offers that seek to minimize their payouts and avoid costly litigation.

Protecting Yourself from Insurance Companies

If you were injured in a crash and are in the process of negotiating with an adjuster—either from your own insurer or that of the party who caused your accident—it is important to keep in mind that:

• The insurance company is not on your side: Advertising slogans aside, insurance companies are in business to make money. This means that they are not your neighbors, and you might not always be in good hands. An adjuster has an interest in saving money for his or her company. To do so, he or she may question you as if you are under suspicion of wrongdoing or otherwise treat you poorly. The insurance company could also drag out the claims process, potentially limiting your ability to file a lawsuit in a timely manner. If the adjuster does offer a quick settlement, accepting it may require you to waive your rights to any future claims related to the accident. This could be problematic if additional medical issues arise down the road as a result of your injuries.
• Your best interests are not the top priority: An insurance company’s primary goal, in most cases, is to avoid unnecessary losses and to pay out as little as possible. Most representatives have been taught to negotiate lower settlements based on the algorithm generated by a computer program and to essentially guide you into accepting the first offer. In reality, the full extent of your injuries will only become evident over time, so you should not be rushed into making a decision because of mounting bills.
• Qualified legal counsel is your best protection: An experienced personal injury attorney understands the tricks and techniques that insurance companies use and can help you avoid accepting a lowball settlement offer. Your lawyer will represent you and work hard to protect your rights and your best interests. He or she will review any and all documentation associated with your case, and help you avoid making a serious mistake by settling too soon.

Speak With a California Personal Injury Attorney Today

If you have been injured in an auto accident and are being offered a settlement from an insurance company, an experienced San Jose car crash lawyer can review the offer before you make any decisions. Call 408-293-7777 to schedule a free consultation at with Attorney John J. Garvey, III today.

Sources:

http://finance.zacks.com/handling-lowball-initial-insurance-settlement-offer-10430.html

http://www.seattlepi.com/news/article/Low-ball-offers-nothing-new-in-insurance-industry-1114731.php