If you are injured in an accident, the insurance company will offer a settlement. How you reply to the offer has significant legal implications. You should never react to the offer in haste without contacting your attorney.

Your lawyer will carefully analyze the situation, your injuries, their extent, and many other factors before telling you how to proceed. The settlement offered initially might not be enough to compensate you fully, which is why you should never accept a settlement without legal representation.

Accepting a settlement will end your chances of getting greater compensation. Please do not agree to a settlement via text, letter, email, or orally without consulting your lawyer, and neither decline it.

Can The Settlement Offer Be Rejected?

Rejecting a settlement offer is an unwise decision unless done under the supervision and advice of the attorney. There are many factors and an attorney will consider before giving you the final decision. If you accept the settlement offer, you will lose your eight to file a personal injury lawsuit against the party at fault.

On the other hand, if you decline the offer, the settlement offer will no longer be available if you change your mind later. You cannot accept the settlement offer once you have refused it or if the offer has expired and has been withdrawn by the other party. There are chances of a follow-up settlement offer in most cases, but it’s not compulsory, and you cannot wait to receive one.

A skilled and experienced personal injury lawyer will carefully evaluate the offer’s strength and ask you to act accordingly.

Lawyers Negotiate On Your Behalf

A skilled and experienced lawyer will represent you and negotiate on your behalf. The lawyer will request a high settlement offer that will compensate for your medical bills, lost income, transportation costs, suffering, rehabilitation, and pain.

They will try to get you a settlement offer that is in your best interest. Not just that, they will also prepare your case, collect evidence, and represent you in court in cases when a settlement is not reached between you and the third party out of court.

If you got in a car accident and your car was destroyed, you are more likely to face an even more challenging and tough time. In some cases, you might want to keep your car despite the destruction and wreckage.

However, you will find it difficult to get insurance for a car that has been destroyed. This is where total loss letters come in. You must hire an attorney to deal with such legal matters. Take the advice of an attorney before you decline or accept an offer on a totaled vehicle. They will guide you and show you the true picture of your car. They will help you better understand the benefits and disadvantages of rejecting an offer.

Can You Sue The Other Party After Accepting A Settlement?

One of the top reasons why most people do not accept a settlement offer is that the party’s insurance company at fault asks the victim to sign a liability waiver before handing over the settlement amount.

The liability waiver is a legal document that forbids you or the victim from filing a lawsuit against the company, suing the party at fault, and demanding compensation. A skilled and experienced lawyer like that available at Ketterman Rowland & Westlund will walk you through your options to understand the situation properly and know what is in it for you if you accept or reject the settlement offer.

Rejecting A Settlement Offer If It Is Too Low

As mentioned above, if the insurance company offers you a settlement offer, you can accept or reject it. If you think you deserve to receive a greater settlement, then keep on negotiating until they offer a settlement you are good with.

State A Reasonable Sum

Browsing for negotiation tips and reading a few articles on the internet does not make you a negotiating expert. Even the most skilled attorneys who have years of experience dealing with personal injury settlements will tell you that no matter how good your negotiating skills are, you can not get a large settlement that will get you a luxurious mansion, especially if you do not deserve it.

To negotiate properly, you should have an idea about the approximate value of your claim. Then you should work towards achieving that amount. If the settlement offered by the insurance company is less than your claim but is quite reasonable, you should consider your stance and points before rejecting it.

Low Settlements

Insurance companies and the people who work for them are experts in getting what they want. They try to win the situation and get the deal done with as little money as possible.

It is very common for insurance adjusters to know how much time, headache, and money your claim will cost the company, and to avoid all the hustle, they will try to offer a low settlement to silence you.

You should be aware of offers like that. You should contact an attorney to determine the strength of the offer.

Know The Insurance Policy

If your negotiation depends on the auto insurance policy, then request a copy of the policy. In most cases, the insurance company will not pay the victim more than the insurance policy limit.

When purchasing an insurance policy, you pay for a certain amount of coverage, the limit of which is mentioned in the insurance policy. Therefore, when you know the insurance policy limits, you can know whether the insurance adjuster will be able to meet your demand or not.

If You Reject The Offer, Have Valid Points

If you have given the settlement offer significant thought and have still found it to be too low, then you can reject it. You should always reject a settlement offer in the form of a letter or other pieces of writing.

First, you should type a rejection letter to the insurance company listing valid reasons you think the offer is not good enough and too low. Next, you should back up your reasons with solid proof and evidence and attach them to the letter. Finally, end the letter by mentioning a counteroffer you think is more ideal and reasonable for you.

In A Nutshell

You do not have to fight your battles alone. Contact a personal injury attorney to make your life easier. The lawyer will help you get through the tough times easier. They will represent you in court and outside and negotiate on your behalf and take care of all legal matters in a way that they are in your best interest. Don’t wait. Contact an attorney now and win your rights.