Should I accept a settlement offer?
Published on:May 24, 2021

Should I accept a settlement offer?

Personal injury accidents can be confounding, and sadly enough, it always happens when you least expect it. If you or someone you know was involved in an accident, the best action is to file for a personal injury claim.

Soon, you will be talking with the insurance company to determine the amount of your settlement. Going by how cumbersome filing a personal injury claim can be, most victims settle for any offer just to move on, but should you?

The first offer is rarely substantial, and it is best to hire an experienced personal injury attorney who knows the ins and outs of the court. An attorney with an impressive track record of success is most likely to negotiate for a better offer. If you want to know whether you should accept a settlement offer or not, please keep reading.

Should you accept the first offer?

Unapologetically, NO! The reason you need to turn down the offer is that the amount you receive as settlement is important. Not only will it cover your medical expenses, but it will also help you tackle complications in the future. It can cover for missing wages if you’ve been missing work as a result of your injury. Take note that the insurance company can afford more, and the first offer is always a test to know how you will react. If you accept the first offer, you will be cheating yourself out of thousands of dollars in the long run.

Can an insurance company revoke an offer?

Victims of an accident are often afraid that if they waste a second more to accept an offer, they might lose it. Although possible, unlikely depending on the severity of the case. The first offer from an insurance company is like a way of kicking off a statement negotiation. Usually, they expect you or your lawyer to reject the offer and proceed to the negotiation process.

Hire an experienced personal injury lawyer

Dealing with personal injury settlement can be stressful, especially if you’re still suffering from the pain and trauma of the incident. The last thing you need is to compound the stress, which is why you need to hire an attorney who understands your case like no one else. 

Your attorney will be able to know whether to accept the offer or turn it down. Whatever happens, rest assured that your attorney will present the pros and cons of accepting an offer so you can make a calculated decision. 

Try as much as possible not to accept any settlement offer until you have hired an attorney. Reason being that you’re likely to go for a settlement that is way beneath what you’re worth. Think about the medical bills, lost wages, and the pains and suffering. If you think you deserve to be adequately compensated then call 718-273-7900 or fill the contact form.