Yes. Insurance companies sometimes try to give Plaintiffs low offers shortly after a wreck or injury in hopes of saving money by not having to pay for all of the Plaintiff’s damages. Receiving a settlement offer from an insurance company can be an overwhelming process, especially while actively recovering from a personal injury accident. It’s important to know that you have the right to refuse an offer if it doesn’t meet your needs. At the Law Office of Shane McClelland, PLLC, we think you should consult an attorney before accepting any settlement offer to ensure that you understand your options and the consequences of accepting a settlement offer. We know that each case is unique and that settlement offers can often fall short of covering your true expenses and losses.
Don’t try to navigate the aftermath of your accident and the complex intricacies of a settlement offer alone. With nearly decades of experience, Attorney Shane McClelland works diligently to clarify these sometimes confusing areas to help you understand the process and ensure that you receive fair compensation for your damages. If you’re unsure about accepting a settlement offer, contact us today for a complimentary consultation.
What Should You Consider Before Refusing a Settlement Offer?
Before refusing a settlement offer from the insurance company, it is crucial to evaluate the offer thoroughly. This involves carefully analyzing all components of the offer, including compensation for medical expenses, lost wages, out of pocket expenses, and future costs associated with your injury. After a wreck, medical bills can quickly accumulate, and future treatments or rehabilitation might be necessary, making it essential to ensure these costs are covered. Obtaining a professional opinion can significantly impact your decision-making process. A seasoned lawyer like Shane McClelland can provide a realistic assessment of your case’s value based on his knowledge of similar cases.
Insurance companies often present initial offers that are lower than what a jury would likely pay you if you take your case to trial or at least have an attorney involved. Insurance companies do this aiming to minimize their payout. These initial offers are frequently low-ball offers designed to settle lawsuits quickly and cheaply. By being aware of the insurance company’s strategies, you can better advocate for a fair settlement that truly reflects the extent of your damages and suffering.
How to Respond to a Settlement Offer from the Insurance Company?
When you receive a settlement offer from the insurance company, the first step is to speak with an attorney who understands insurance company’s strategies and tactics to try and get away with paying less than it should. And speaking with an attorney will make sure you understand the offer and the consequences of accepting the offer. Additionally, contacting an experienced personal injury attorney, like Shane McClelland will allow you to focus on your health and recovery.
If, however, you do not contact an attorney, then consider requesting a detailed explanation of the offer. This involves asking the insurer to provide a comprehensive breakdown of how they arrived at the offered amount. Key components that should be included are medical bills, property damage, pain and suffering, lost wages, and any other relevant expenses.
Understanding each element of the offer will help you determine whether it fairly compensates you for all your losses. By doing so, you can identify any gaps or areas where the offer falls short, ensuring you have a clear picture of what is being proposed.
If the initial settlement offer does not meet your expectations or adequately cover your losses, making a counteroffer is the next step. Our team will handle this process for you, allowing you to focus on your rest and recovery. The process of making a counteroffer involves providing supporting documentation that justifies a higher settlement amount. This might include medical records, repair estimates, and proof of lost wages.
We can craft a strong counteroffer that reflects the true value of your lawsuit. We will negotiate on your behalf, ensuring all necessary information is presented to bolster your case. If a worthy agreement cannot be reached, we are willing to file a lawsuit on your behalf and prepared it to go to court.
Schedule Your Free Consultation Today
Know your rights. Attorney Shane McClelland brings nearly 20 years of experience to the table, specializing in personal injury cases and navigating the complexities of settlement negotiations. With a focus on understanding your unique situation, Attorney Shane McClelland carefully assesses each offer to ensure it reflects the true extent of your damages and losses.
If you’re uncertain about accepting an insurance company’s settlement offer, the Law Office of Shane McClelland, PLLC can help. He will guide you through the process, confirm your rights are protected, and advocate for the compensation you deserve. Call (713) 987-7107 or reach out to us through our contact form to book a free review of your case today.