Sustaining a severe personal injury inevitably means that you must spend a significant amount of time and money pursuing the medical treatment you need. Your insurance coverage, or that of the party responsible for your injury, should at least give you peace of mind when it comes to the financial impact of your situation.
When the insurance company initially offers you a monetary settlement for the damages, you might wish to hurriedly accept the payout so you can quickly move past these hard times. However, you should carefully scrutinize the initial settlement offer because you might be due more compensation than what your insurer leads you to believe.
How can you tell if the initial offer is fair?
The biggest red flag when dealing with a personal injury insurance claim occurs if your insurer urges you to accept a settlement before a medical professional can evaluate your injury. It is in your best interest to make sure that you receive sufficient compensation to pay for your future treatments. Anything less, and anything that goes against the terms of your insurance policy, is an unacceptable lowball offer.
How can you receive a sufficient settlement?
Contesting an insurance settlement offer requires specific knowledge of insurance law. Consult with an advocate who can help you understand your insurance policy and the rights of your injury claim. You might decide to take the matter to court so you can fight for the financial support you need.
While litigation is a last resort option that does not always pay off, it may be the best course of action if your insurer offers a lowball initial settlement. You can choose the best way forward by taking sufficient time to decide before accepting the insurance company’s first offer.