Reasons to Avoid First Settlement Offers from Insurance Companies

Being involved in a claim is never fun. It takes time to reach a settlement and it is always best to use the guidance of a car accident lawyer in Philadelphia, especially if you have been injured so you can focus on your injuries and recovering.

It might be tempting to accept the first offer from the insurance company to quickly settle, but it is usually not worth it. Be patient and make sure to always negotiate with the insurance company to get the full amount you deserve.

The First Offer

Insurance companies always underestimate the first offer, making it unfair to you. The company hopes that you will end up taking the small settlement. This might seem worth it, but take the extra time and step to negotiate for a more fair settlement.

You may need the money to pay medical bills or for car repairs, but if you can, always stick it out to get a better offer.

Be Prepared

With the help of your lawyer, calculate what you think would be a fair settlement. You need to have some type of amount in mind, but never reveal this to the adjuster of the insurance company. There does need to be some wiggle room, but do your best to figure out what would be a fair off for what you went through. Take into account your medical bills, car repair costs, and any pain or suffering.

Negotiate

When it is time to negotiate, make sure to emphasize the important parts, such as what you went through due to the accident. This could be losing income due to your injury or any pain and suffering that you endured.

Use the expertise of a doctor and prepare all doctor’s notes and medical records to provide proof.

With the help of a lawyer, you will know when the right offer comes along, but it rarely is ever the first offer. That means you need to work with a lawyer right from the start. Before starting your claim, set yourself up with a lawyer that can help you prepare and file the claim. This will give you more leverage in the negotiation process.

A claim that is detailed and includes all of the right documents will usually receive a higher first offer. But that still doesn’t mean it is a fair offer. Take the extra time to have your lawyers negotiate with insurance companies so that you can get the most out of your claim. Remember, being patient through the process is going to make for a bigger reward.