Categories
Uncategorized

Why You Should Never Accept the First Offer by Insurance Company

After a motor vehicle accident, you will find yourself immersed in the world of Insurance Company. As our mandatory insurer, Insurance Company is a fixture in our lives and whether we like it or not, it is a fact of life after a car collision. Over the years, Insurance Company has become beleaguered by fraudulent claims and financial problems and has scaled back on settlement payments as a result. Unfortunately, under this scenario, personal injury lawyers have seen that even the most honest and documented claims can be denied or short-changed due to Insurance Company’s need to keep the financial reins tight.

Your Best Interests

For most people, an Insurance Company claim is the last thing on their priority list after an injury due to an accident. The claims process can be complex and Insurance Company is covering everyone involved in your accident so your best interest is not necessarily their priority. In fact, settling for the smallest amount possible is what most adjusters strive to do.

Their Financial Priorities

Although you want to believe that Insurance Company is protecting your interests after an accident, their own financial interests usually take priority. Because of this, you can expect that the first settlement offer will be as low as possible. They fully expect you to negotiate, so they start low in the anticipation that they will need to come back with a larger settlement in the future.

Only a Partial Picture

The adjusters with Insurance Company do rudimentary investigations of the accident and base their settlements on that limited information. The value of your claim is only worth the information that they have discovered and may only be partially correct. They may not have a full disclosure of your medical interventions or any pain and suffering you have endured due to the accident, Because of this, in many cases, they only have a partial picture of what your claim is really worth.

Healing Takes Time

After an accident, your recovery will take time. There is no way to know the financial implications of your healing right away and it may take a matter of month before you do. Yet you will most probably receive a settlement offer within a few weeks of your accident. Once you accept that offer, it closes the door to any future compensation which can be devastating if you develop additional symptoms down the road.

Get Legal Advice

Before you deal with Insurance Company on your own, it may be in your best interest to understand your full legal rights. Never accept a settlement until you speak to a Port Moody personal injury lawyer. In most cases, they will offer you a complimentary consultation to discuss your claim. Know your rights before you settle with Insurance Company. Call the professionals Personal Injury Lawyer to see how you can benefit from having a legal expert in your corner after an accident.