What to Do if an Insurance Company Offers You a Settlement

If you have been in an auto accident, or otherwise experienced a personal injury, you may be contacted by the other person or entity’s insurance company with an offer to settle the case. This offer could come before you even file a personal injury suit, which can make it very tempting to take the deal. Accepting an insurance company’s offer to settle the case, however, eliminates your right to pursue litigation down the road, so deciding whether to accept the offer or not requires some careful consideration.

Go Over the Offer with an Experienced Attorney

The insurance company will try to pressure you into accepting the offer as quickly as possible, but that is not a good idea. Even if the company says that the offer is only “on the table” for a short period of time, it is a mistake to rush into these decisions. Since most people don’t have extensive experience working or studying these types of cases, it can be difficult to know when settling is a good idea, and when it is a mistake.

This is why getting legal help from an attorney who routinely handles personal injury cases is such a good idea. An attorney can go through the details of your case and help you to understand how the courts will look at it from every angle. From there, they can work to determine if the settlement offer was a fair one, or if the insurance company was trying to lowball you to save themselves money.

Why an Insurance Company Offers to Settle

Insurance companies have many reasons for wanting to settle personal injury cases outside of court. The most important reason is that it will result in a predictable payout that they have control of. Insurance companies don’t like “the unknown” and that is just what going to court will bring. While it is possible that the insurance company would win a case, it is also possible that they will be made to pay out a lot in damages.

When they know that it is unlikely that they will outright win the case, they will almost always offer to settle. In addition to granting them greater control over the situation, it will also save them a lot of legal costs and other expenses. You can be sure that when you receive a settlement offer, the insurance company is primarily looking out for their own best interests.

We are Here to Help

If you have received an offer to settle from an insurance company, contact The Tyra Law Firm right away. We can review the offer and provide insights as to whether it is a good deal or not. In some cases, the settlement offer will be reasonable and it will make sense to accept it. In others, it will be in your best interests to decline the offer and take the case to court. Either way, we will always put your interests first and help you to get the best possible results based on your unique situation. Call us today!

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Written by The Tyra Law Firm

Our firm offers a number of legal services, including Family Law, Estate Planning,Elder Law/Medicaid Planning, and Personal Injury. In each of our practice areas, we are committed to paying close personal attention to every detail, and providing excellent client service.