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Should you accept an insurer’s initial offer after an accident?

On Behalf of | Dec 12, 2023 | Personal Injury |

Whether you are injured in a vehicle crash or in something such as a slip and fall, you may have the right to claim compensation. The claims process can seem complex and time-consuming to the uninitiated, so you may be delighted when the insurer makes an early offer that sounds like a decent amount.

Yet, the insurance company is not making this offer to help you. It is doing so to help itself.

Insurers are aware of how little most people know about the injury claim process. They know that if they make early offers to those who could claim against them, some people will accept them and that will help reduce the overall total of payouts the company must make that year and increase the profits it can pay their shareholders.

Insurers have their shareholders’ interests at heart, not yours

It can be tempting to accept an early offer from an insurer without going through the whole process, but it could end up costing you dearly in the long run. You may find that your injuries are much worse than you initially thought. You may find that you need more time off work to recover than you thought or that you cannot fulfill your work duties as before, and your employer can no longer keep you. You will likely also find that if you had gone to court, the court would have awarded you much more damages than the insurer initially offered.

Getting legal guidance to learn more about how the claims process works and push for the amount you deserve is wise, however tempting that initial offer may seem.