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In the aftermath of an accident or injury, dealing with insurance payouts is the last thing you want to do. In an already challenging situation, insurance companies can employ deceptive tactics to avoid giving you your fair compensation.

It is crucial to understand what steps to take to safeguard your interests, secure your full compensation, and protect yourself from being taken advantage of by insurance companies. Call our law office today to speak with a skilled personal injury attorney about how to handle insufficient insurance payouts.

Never Accept the First Offer

Being offered a check after sustaining injuries in an accident may seem tempting. It may appear to cover your immediate expenses and hold you over while you recover. However, you should never accept the first offer.

In the long term, the payout may be substantially less than what you require to cover medical expenses and lost wages. While insurance adjusters hope you take the first offer, they do not expect you to. Insurance companies are known for offering low payouts in the beginning so that they have a better chance of reaching a fairer sum during negotiations.

Presenting a Counteroffer

After rejecting the initial settlement offer, the next step is to draft and present a counteroffer to the insurance company. The counteroffer should be a formal letter describing the case details, injuries sustained, and why the other party was negligent. Your counteroffer may likely demand a higher sum to cover injury expenses, beginning more intense negotiations to reach a fair settlement. Bringing solid evidence to this negotiation is crucial to supporting your claim. This can include medical records, expenses, and proof of any lost income as a result of the accident.

The Two Types of Damages in Personal Injury Claims

When filing a personal injury claim, you should know the two main types of damages for which you may be entitled to compensation. These include economic and non-economic damages.

Economic damages are the quantifiable costs and losses you endured after the accident, such as medical expenses and lost income. Non-economic damages refer to subjective damages that may have impacted your quality of life, such as pain and suffering or loss of enjoyment.

It is important to meet with a lawyer who could handle calculating your damages and put together a case for a sufficient insurance payout.

Speak With our Legal Team About How to Handle Insufficient Insurance Payouts

It is in an insurance company’s best interest to keep payouts to a minimum to maintain profit. This is why they try to lowball insurance claims that may feel insulting to you. Avoid getting angry and instead carefully think about your next steps.

If your initial demand was deemed highly unreasonable, your claim is complex, or you need legal advice, consider consulting with an experienced personal injury attorney to help you reach a fair settlement. Call our office today to get the compensation you deserve.