Should I Accept the First Settlement Offer?

No, you should not accept the first settlement offer you receive. The first offer, which usually comes from an insurance company or a defendant, is typically the lowest bid. They want to resolve the issue for as little money as possible. 

If you want to protect your right to pursue fair compensation, you can hire an Atlanta personal injury lawyer to lead your case. They can protect your interests and review any settlement offers you receive before you sign on the dotted line.

Why Is the First Settlement Offer So Low?

If the insurer or defendant in your case can get you to accept a lower settlement than you want, it’s a win–for them. That may be apparent, but this strategy serves a few other purposes.

Parties offer low settlements to see what they can get the opposing side to agree to without giving up more. They think if they start with a small amount, the person might not know they can ask for more compensation. 

If you are in this position, they are betting that you will take the money because you need it to cover your losses, such as medical bills you incurred after an accident. While this may be true, it doesn’t mean you should settle for less. 

Use the Initial Settlement Offer to Start the Negotiation Process

Consult with an attorney who can review your damages and assess your case’s value. Insurers will start with a low bid to see if the claimant knows how much their damages are worth. In many cases, this initial offer is just the beginning of negotiations, not the final amount injured parties can recover. 

If you or a loved one is in this situation, talking to a personal injury lawyer can prepare you for negotiation talks. They can handle your case, manage your expectations about how long a settlement negotiation can take, and pursue a fair financial award. 

Having a legal representative also sends a message to the insurance company that you are serious about getting a fair deal.

Collect Evidence to Prove the Full Extent of Your Damages

Once you learn the first settlement offer is more of a test than a final answer, you can step up your game. An attorney with our firm can gather evidence that shows the extent of your injuries and how they affect your life.

Such evidence can include:

• Medical records and billing statements: These documents can show the nature and extent of your injuries, along with the treatments you’ve received and your medical care costs.
• Rehabilitation and therapy records: Records from physical therapy, counseling, and other rehabilitative services can offer insight into your recovery.
• Expert witness testimony: Medical experts, such as doctors or specialists, can explain complex medical concepts in your case.
• Loss of income documentation: Pay stubs, tax returns, and employment letters can prove how your injuries affect your income. If you cannot return to work or your earning capacity is lower, expert testimony about your future earnings loss could help your case.
• Photographs and videos: Visual evidence of your injuries and the accident scene can provide compelling proof of the circumstances and severity of the incident.
• Personal journals or diaries: Keeping an account of your daily pain levels, emotional state, and how injuries affect your everyday activities can show how an accident or injury changed your life.
• Witness statements: Testimonies from people who witnessed the accident or can attest to how your injuries have affected you could help your claim.
• Physical evidence: Damaged clothing, personal belongings, and other physical evidence from the car accident scene can help establish the severity of the incident.

Compelling evidence can help prove why you shouldn’t accept a lowball first settlement offer. The proof you present should show the damages you suffered economically (like medical bills and lost income) and non-economically (such as pain and suffering). This is key to obtaining a fair settlement or award.

Our attorney can also explain how settlements get paid and answer your questions about the process.

Have a Monetary Figure in Mind Before Settlement Talks Start

Working with an attorney can also help you enter the negotiation phase with a clear understanding of what is fair. You can consider the amount that meets your minimum compensation requirements. A personal injury attorney can review your losses and come up with a figure.

This amount can include losses you have experienced and those you anticipate, such as:

• Future medical care and rehabilitation costs
• Future lost income due to changes in your earning capacity
• Monetary damages for prolonged pain and suffering

A Personal Injury Attorney Can Take On an Insurer for You

Negotiating might seem daunting, but an attorney with experience and knowledge of your state’s laws can make a significant difference. Legal representatives can effectively argue the case for your financial recovery.

They can anticipate damages you may not know you have and collect the documentation you need to prove them. With an attorney on your side, an insurer may come around to paying a settlement that reflects the financial value of your damages.

Other Ways a Personal Injury Attorney Can Help Your Case

Personal injury attorneys offer responsive client care in many ways. As they work toward securing fair financial compensation, they navigate the legal system for clients whose time is better spent focusing on their recovery.

They handle all the day-to-day tasks of a case, such as handling paperwork and communicating with all parties involved in the case, including insurance companies. They also know the tactics insurers use to delay or deny valid claims and how to address them. 

If your lawyer cannot settle your case, they can represent you in court and seek a favorable outcome for you there.

Call Us Today About Your Accident – Free Consultation

The personal injury lawyers at John Foy & Associates can challenge a low first settlement offer on your behalf. You should not accept an offer that does not cover your damages. Typically, these offers only serve the insurance company’s financial interests, not yours.

Once you accept a settlement offer, you cannot request more compensation, so talking to an attorney can protect you from a costly mistake. Contact us today for a free, no-obligation consultation. We work on a contingency-fee basis, so you don’t pay us any fees unless we recover compensation for you.