Auto accidents aren’t experiences anyone enjoys. Most of the time, you just want to move past the whole ordeal and get on with your life. Unfortunately, you can’t get past your accident without dealing with your insurance company first.
Your crash has likely left you with property damage and some injuries. The more serious your injuries are, the higher your medical expenses will be. You obviously need to be compensated fairly so you can pay for your expenses and move forward.
Assuming you have enough coverage, your insurance technically should pay for some of your losses. You shouldn’t have to pay out of pocket for immediate medical expenses, and you could recover compensation for a portion of your lost wages.
Sometimes, however, your insurance company will try to settle your claim for less than it’s worth, and that can lead you to a lot of financial issues—now or down the road. You need to understand how to spot an unfair car accident settlement offer. Keep reading to find out how to identify a lowball offer.
The Insurance Company Offers Quickly
Insurers are fully aware of the struggles auto accident victims face. They know that you:
- Are in pain and struggling with auto repairs and other hardships
- Need your settlement to pay your medical expenses and missed wages, likely because you don’t have the money to pay these costs yourself
Your insurer may offer you a low and fast settlement because it knows a lot of car crash victims will take the first offer just to get things over and done with. This first offer is usually way lower than what your claim is really worth.
Keep an eye out for the fast, low settlement offer, and know that it’s probably not even close to what you deserve under the terms of your no-fault insurance policy.
The Offer Barely Covers Your Current Expenses
Many insurers will pull this sneaky trick: Offer you exactly enough to cover your current expenses, such as processed medical bills and some of the wages you’ve missed so far. What they fail to take into consideration is your future medical bills and lost income.
They know all about the future costs of your accident. What they’re counting on is that YOU don’t know that the offer is insufficient. Always calculate what your future expenses are likely to be before agreeing to a settlement from your insurer. If you need help doing that, give us a call.
Speak with an NYC Car Accident Lawyer
Insurance companies aren’t in the business of helping car crash victims. They’re in the business of making money, and their greedy eyes are always on the prize. They don’t want to pay out on car crash claims, no matter how reasonable you try to be. If the insurer thinks it’s possible to get away with paying you a low settlement, it will try.
Make sure that you don’t get lowballed, and don’t be a victim twice. Contact an attorney with Greenstein & Milbauer, LLP to discuss your auto injury case. We will discuss your case for free during an initial case evaluation. Dial 1-800-VICTIM2 (842-8462) or enter your information into the contact form at the bottom of this page.