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Should I Accept a Settlement Offered by the Insurance Company?

| Jun 3, 2014 | Personal Injury

If you are injured in a San Diego car accident, slip and fall accident, or any other type of injury accident, you may be entitled to compensation for your injuries if another party caused, or contributed to, the accident. Often, an insurance adjuster for the negligent, or at-fault party will contact an injured party and offer to settle the matter for a sum of money.  Although it may be tempting to accept the settlement offered by the insurance company, it is always in your best interest to consult with a San Diego personal injury accident attorney before responding to the offer.

In most personal injury accident scenarios the potentially negligent party is covered by some type of liability insurance. The point of liability insurance is to cover a situation wherein the insured is at fault, or negligent, in an accident. Therefore, the insured typically contacts their insurance company and reports the accident. If the insurance adjuster feels that the insured was potentially negligent, the adjuster will often try to limit the insurance company’s exposure by resolving the claim as quickly as possible – and for as little money as possible. Keep in mind that the insurance adjuster works for the negligent party’s insurance company. The adjuster’s job is to minimize the money the insurance company has to pay out for a claim. For this reason, it is common for an adjuster to contact all potentially injured parties and offer a token amount of compensation just to make the claim go away. If you were truly injured in the accident though, the settlement offered is likely for far less than what you are actually entitled to for your injuries.

Don’t sell yourself short by jumping on an early settlement offered by an insurance adjuster. People often make this mistake for one of two reasons – they are suffering financially and need the money or they don’t realize the extent of their injuries. If you are suffering financially and are tempted to take an initial offer by an insurance adjuster, remember that by accepting a small offer now you may suffer much more down the road if your injuries persist and you incur additional medical bills or lose more time from work. If you feel that you are not seriously injured, it may be tempting to just take the money. Before you do that, make sure that you have a thorough examination done by a physician to check for any hidden injuries.

A San Diego personal injury accident can cause serious, long-lasting injuries to a victim. Before you even consider a settlement offer from an insurance company, be sure to consult with an experienced San Diego personal injury attorney too ensure that you are fully and fairly compensated for all of your injuries.