Should I Accept a Personal Injury Offer in Philadelphia?

  • September 07, 2021
  • Blog

If you sustained serious injuries in an accident due to someone else’s negligent or reckless actions, and try to deal with the personal injury claim on your own, expect to deal with the liable party’s insurance provider. Should I accept a personal injury settlement is a question to ask yourself after you know how insurance companies treat settlements.

In most cases, insurance claims adjusters or representatives will try to settle the claim as soon as possible by offering a quick settlement. And while you probably want to get things done and put everything behind you, accepting a personal injury settlement offer early on without consulting an attorney is a major mistake that could cost you a lot of money.

Before accepting an insurance provider’s offer, you should at least discuss your case with a Philadelphia personal injury lawyer to learn more about your claim and how much your claim is really worth. You should likewise understand how insurance companies deal with personal injury settlements to know why accepting an offer early on is not the best way to handle your claim.

Insurance Companies Always Make Low Settlement Offers

It’s in the best interests of insurance companies to offer as little money as possible to keep their shareholders happy and minimize their costs. This means that they will always offer the lowest compensation amount possible. This also means that your non-economic losses like emotional distress, trauma, and pain and suffering will not be accounted for. Or worse, the low offer might not even fully cover your economic losses, such as your medical expenses, lost earnings, and property damage, among others. So at least at the beginning, the answer to the question Should I accept a personal injury offer, is No.

If the insurance company extends a low settlement offer that you know is less than what you really deserve or need, you should and could negotiate for a better deal. The worst that could happen is that the insurer will refuse to renegotiate and stand their ground. But take note that the offer is still open, so you have nothing to lose if you decline it. However, if you have strong evidence to back up your claim, you may succeed in negotiating a higher offer. Otherwise, seek legal advice from a personal injury lawyer in Philadelphia.

Insurance Companies Are Known to Make Quick Settlement Offers

Receiving a quick settlement offer after sustaining injuries that need extensive medical treatment could be extremely tempting for a lot of injured victims. However, keep in mind that the insurer may attempt to offer you just enough money to entice you to accept their low offer instead of the real worth of your injury-related losses. Even if you’ve had a medical evaluation and are undergoing treatment, you may still not know the exact extent of your injuries or how long you’ll recover or need treatment.

Accepting a quick offer of compensation is always a gamble. You might be better off accepting it if you recover quickly and you’re certain that the amount is reasonable for your damages. On the other hand, you will be barred from pursuing further compensation if you accept the offer and then find out that you’re in for a long recovery, which also means more time away from work.

It is also crucial to note that insurance companies are not above making settlement offers before claimants have had a chance to provide any medical evidence and proper documentation of their injuries. If you were to accept the offer, it would mean agreeing to a settlement amount before your doctor has ascertained:

  • The exact extent and nature of your injuries
  • Which specific medical treatments you’ll require
  • Your prognosis for long-term recovery and/or care

Remember that insurance providers are well aware that claimants might be tempted to give in to a hassle-free and quick settlement, so quick offers are usually on the lower side.

When Should I Accept a Personal Injury Offer of Settlement?

You should only accept a settlement offer once you have thoroughly discussed your case with a Philadelphia personal injury lawyer. This way, you will learn the real value of your personal injury claim, avoid being tricked by the shady tactics of insurance companies, and learn exactly what you have to do to obtain the best possible outcome for your claim. Working with an experienced lawyer will put you in control of the settlement negotiations and not under the mercy of insurance companies with their army of lawyers and highly trained insurance claims adjusters.

Learn How Our Experienced Philadelphia Personal Injury Lawyer Can Help

Are you wondering, Should I accept a personal injury offer in Philadelphia? If you’ve received a personal injury settlement offer and are unsure if you should accept it or not, do not hesitate to contact the Mattiacci Law, LLC, law firm. Our skilled Philadelphia personal injury lawyer will review the facts surrounding your case to determine the real value of your case. To schedule a free review of your case with our personal injury attorney in Philadelphia, you can fill out our online contact form or call us at 215-709-7915 today.

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