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Should you accept an insurance company’s first settlement offer?

On Behalf of | Jan 23, 2024 | Personal Injury

When you have just been in a car accident, the quick settlement offer from an insurance company may seem like the immediate resolution you need. It will be tempting to accept whatever compensation you can recover, but is the first offer the best you can get? More importantly, is it enough to cover all the damages you suffered from the car accident?

Insurance firms prioritize their financial interests, which often does not align with your best interests. Before you accept, you should understand the implications and why having legal representation is crucial.

The true cost of a quick settlement

Insurance companies often present initial offers quickly after an accident, but it is not for your benefit. At first glance, the settlement offer may seem more than fair. However, initial offers rarely reflect the actual cost of your injuries and losses. They may not disclose the following:

  • It may not cover all your medical expenses, especially if your treatment is ongoing.
  • It often overlooks future lost wages if you cannot return to work right away due to injuries.
  • It rarely accounts for pain and suffering or the emotional impact of your accident.

Consider consulting with a personal injury attorney who can help you realize how much your claim is truly worth.

Why legal representation matters

A personal injury attorney can assess the total value of your claim beyond the immediate costs. Attorneys are professional negotiators who will not be intimidated by insurance tactics. They can explore and pursue every potential area of compensation, from current medical expenses to future rehabilitation costs. With their deep knowledge of Georgia’s modified comparative negligence laws, your attorney can help prove that the other driver was more at fault for the accident, thereby enhancing your claim’s value.

Remember, once you accept a settlement, you forfeit your right to pursue additional compensation later on. Do not let the pressure of a quick payout prevent you from getting the full compensation you deserve.