Should You Accept an Insurance Settlement Offer? Insights from a Personal Injury Lawyer in Brandon, Florida

In the days and weeks following a serious personal injury, you may be staring down an onslaught of medical expenses, as well as financial woes due to lost income. With financial distress on top of the pain and suffering caused by your injuries, it is only natural that you are eager to seek restitution from the at-fault party’s insurer.

You may be tempted to accept the first settlement offer to receive a check as soon as possible. However, this is a huge mistake. Here are a few reasons why you should never accept an offer without first consulting with a top-rated personal injury attorney in Brandon, Florida:

First Offers are Usually Extremely Low

You might think that insurance companies would be willing to offer a settlement that fairly compensates personal injury victims for all their losses. However, the unfortunate reality is that these insurance companies are more concerned with their profit than with the well-being of claimants. This means they could (and would) go to any length to pay you the lowest settlement possible.

Many personal injury victims are uninformed of the true worth of their claim. Insurance companies know this, and they often try to take advantage. They will offer claimants a quick settlement for a fraction of the claim’s worth. They are hoping that you will jump at the chance to accept the lower payment because you need money to cover your current losses, and you’re ready to put the entire situation behind you.

Insurance companies also know that unrepresented claimants typically have no idea how to negotiate a higher settlement — or even that negotiation is an option in the first place.

Far too many personal injury victims end up with a considerably lower settlement than they deserve because they accepted the first offer without legal counsel. As such, it’s strongly recommended that you partner with a personal injury attorney in Brandon, Florida to help you navigate these types of situations.

What Happens if You Accept a Low Settlement?

You may not realize how low a settlement offer is at first. You might use the money to pay your current hospital bills, but you might not have enough left over to cover future treatment or make up for lost income.

Unfortunately, you cannot simply ask the insurance company for more money if you realize you did not receive enough to cover your future expenses. This is attributable to the fact that insurers require claimants to sign waivers when they accept a payment.

By signing a waiver, you relinquish your right to seek additional damages for the accident and injuries involved in your claim. In essence, you are stuck with the settlement you received.

So, if you accept a low-ball offer today, you will be personally liable for any future losses not covered by the settlement. Again, this is a scenario that a Brandon personal injury attorney can help you avoid.

How Can a Personal Injury Attorney in Brandon, Florida Help?

If you receive a settlement offer from the at-fault party’s insurer, you shouldn’t hesitate to contact a personal injury attorney in Brandon, Florida to review the proposed settlement. They will know how to appraise your claim and negotiate with the insurance company for the maximum possible pay-out.

In the face of compelling and verifiable evidence, the insurance company may feel compelled to offer you a sum that fairly compensates you for all your current and future losses.

Speak with Our Expert Personal Injury Attorneys in Brandon, Florida Today

If you have suffered serious injuries in a car accident or any other type of accident, and if you want to partner with an expert personal injury attorney in Brandon, Florida, we’re here to help. The personal injury attorneys with O’Toole Law Group can inform you of your legal rights and options, helping you make the best choice for your situation. Contact us today at (863) 533 5525, or contact us online to request a free legal evaluation.

O'Toole Law Group

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