It’s only natural to want to accept the insurance adjuster’s settlement offer when you’ve been in a car accident. After all, you likely want to put the whole ordeal behind you and move on with your life. But before you do anything, it’s essential to understand that the insurance company’s goal is to minimize its payout – not to give you the total and fair compensation you deserve.
A settlement offer from an insurance company will rarely be the actual value of your claim. And if you accept it, you’re likely waiving your right to seek further compensation down the road.
It’s best to consult a personal injury attorney before making any decisions about your car accident claim. An experienced attorney can help you understand the true value of your claim and will fight to get you the full and fair compensation you deserve.
What is an insurance adjuster settlement?
An insurance adjuster settlement is an offer from the insurance company to pay you a certain amount of money to settle your car accident claim. The insurance company will consider the damage to your vehicle, any injuries you sustained, and any other damages when making its offer.
The problem is that insurance companies are in the business of making money, not paying out claims. They will do everything possible to minimize the amount they must pay you. So, their car accident insurance claim settlement offer will almost always be less than what your claim is worth.
Why you should never accept an insurance adjuster settlement
There are a few reasons why you should never accept an insurance adjuster settlement:
- The insurance company’s goal is to minimize its payout
Minimizing payout means that the insurance adjuster’s settlement offer will be less than what your claim is worth. If you accept it, you could be responsible for paying for your repairs or medical bills.
- You could waive your right to seek further compensation
Once you accept an insurance adjuster settlement, you’re likely waiving your right to seek additional payment from the at-fault driver or insurance company. If your damages end up being more than what was initially offered, you’re on your own.
- You could be signing away your right to file a lawsuit
If you accept an insurance adjuster settlement, you could be signing away your right to file a personal injury lawsuit against the at-fault driver. This means that you could be giving up your right to receive pain and suffering damages, which are often the most substantial part of any car accident claim.
- You could be responsible for paying your own attorney’s fees
If you hire an attorney to help you with your car accident claim, they will likely charge you a contingency fee. You won’t have to pay anything upfront, but your attorney will take a percentage of your settlement or verdict if you win your case. If you accept an insurance adjuster settlement, you could be responsible for paying your own attorney’s fees.
It’s in your best interests to consult with a personal injury attorney; they will help with car accident insurance claim settlement and fight to get you the full and fair compensation you deserve.
