Should I Accept the Auto Insurer’s First Settlement Offer?

A lot of people go most of their lives without ever needing to file an insurance claim, so when it’s time for you to file a claim, you may not know what to expect. There is always a learning curve when engaging in anything new, and insurance claims can be difficult to tackle.

There are many steps in the insurance claim process, and if you make any mistakes, this can make the process more difficult. In addition, it doesn’t help that many insurance companies are looking for mistakes so that they can get out of paying you fairly for your claim.

Many of the steps involved in insurance claims can be challenging, and if you’ve just been injured in a vehicle crash, you probably aren’t at your best physically and mentally. You may need assistance with calculating your damages, gathering documentation, proving your claim, and negotiating a fair settlement from the insurer.

Insurance Companies and How They Deal with Accident Victims

It would be nice if insurance companies cared about accident victims and walked you through the process. Regrettably, most of them do not make the process easier for victims, because they don’t want to. Why would an insurer make the process more challenging for you? What’s in it for them?

The simple fact is that insurance companies lose money when they have to pay you, so they may take advantage of your inexperience and try to get you to accept a lower offer. Many times insurers will offer you a low settlement initially, because they think you don’t know what your claim is worth.

Insurance Tactics to Watch Out for When Filing an Auto Claim

Should you accept the first settlement the auto insurer offers you? Probably not, and here’s why. Some insurance companies use many tricks to minimize their losses, and one of the first and easiest tricks they will try is to offer a low initial settlement.

Why do they do this? Because they know that you are desperate for money to pay for your accident-related expenses. You are likely dealing with medical expenses, property loss, and missed wages, so you would like to receive a settlement sooner rather than later.

That being said, waiting for a fair offer is in your best interest overall. Most first offers are barely enough to pay for your current expenses, and these offers usually don’t include future expenses, such as future medical bills and other issues your injury may bring to your life later on.

A few other insurance tactics to look out for:

• Requests to record your statements
• Insurers trying to place blame on you
• Denial of part of your claim
• Threatening or bullying behavior
• Insurers dragging their feet on your claim

Contact an Auto Injury Lawyer Near You

For help dealing with the insurance companies and the claims process, reach out to the Nye Law Group. You can receive a free case assessment when you contact our office. Utilize the online form at the bottom of this webpage or call 704-285-6319.