Midland & Odessa Personal Injury Attorneys
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Should I Accept the Insurance Company's First Settlement Offer?

If you were recently injured in an accident that was caused by someone else’s negligence, you probably got started on the process of filing a personal injury claim and are now dealing with the at-fault party’s insurance company. While dealing with the insurance adjuster, you might believe that he or she is trying to help you out, but the fact is that the adjuster’s interest is ensuring the company he or she represents pays little to no compensation. Therefore, chances are that, when an adjuster quickly makes a settlement offer, it is to avoid having to pay you what your injuries are truly worth.

If an insurance company made a settlement offer, you should never jump to accept it. Instead, seek help from an experienced personal injury attorney to ensure you make the right decision for your circumstances.

Actual Reimbursement Costs

Remember, insurance companies are looking out for themselves and are not interested in doing what is best for you. Even if an initial offer looks fair to you as you calculate your current medical costs, you have to look at the bigger picture. Perhaps you will take longer than you expect to recover or might require costly treatment or surgery to address complications. Try to consider all of the future costs you are likely to face farther down the line and ask yourself if the insurance company’s first offer can even begin to cover that.

Do the Homework

Another reason why insurance companies are sometimes quick to offer injured victims a settlement is to avoid being involved in any sort of legal action. The problem is that there is no possible way for them to know the actual costs for your medical bills, physical therapy, assistive devices, or anything else that might be necessary for you to recover. In fact, your own doctor might not even know exactly when or if you will be able to fully recover this early on in your case. Instead of rushing to accept the settlement offer, wait to determine a more accurate estimate of the costs involved. An experienced attorney will also be able to give you a reasonable estimate of what your claim is worth.

The First Offer Will Not be the Last

You might be afraid of turning down an initial settlement offer because you think it is your one opportunity at guaranteed compensation. It is important for you to understand that this offer will likely be the first of many and that the initial offer is almost always unreasonably low. This initial offer is sometimes made to prey on injured victims who cannot afford to wait, luring them into accepting an offer that cannot begin to fully cover the cost of their medical bills, lost wages, and more. Even if you desperately need the money, it is best to negotiate a settlement. Otherwise, the amount you receive will still leave you in a desperate and vulnerable position when it runs out in the near future.

Let your attorney handle these negotiations on your behalf and, if necessary, take the case to court to ensure you receive fair and just compensation.

Experienced Personal Injury Attorneys in Odessa

If you sustained injuries in an accident that was caused by another party’s negligent or careless actions, you have a right to pursue compensation and hold the responsible party liable for your injuries. At Dean Law Firm in Texas, our skilled team of personal injury attorneys is backed by a proven track record of success and an award-winning reputation. Let us be your voice and help you get the justice you deserve.

Get started on your personal injury case today and contact our law firm at (432) 214-8125 to request a free initial case evaluation with one of our knowledgeable attorneys.