Auto Accident

Should You Ever Accept the Insurance’s Company Settlement Offer After a Crash?

Most people have heard of injured victims having a hard time getting compensation after accidents that weren’t their fault. So if you’re ever involved in a crash, you may be surprised to find out that the other driver’s insurance company is offering you a settlement right away. It’s rare, but it happens. When it does, what should you do?

First, it’s important to note that insurance companies work hard to protect their profits. If they went around paying every victim fair compensation immediately after accidents and injuries that weren’t their fault, they would quickly go broke. Instead, they find ways to reduce or deny claims.

When insurance companies offer settlements unprompted, it often means that the facts of the cases look very bad for their clients and their bottom lines. By offering unprompted settlements, they can minimize their financial losses. That’s because when victims accept settlements, they can’t ask for more compensation later. They can only get the amount of money that was in their initial settlements.

At Skolrood Law Firm, we’ve seen this tactic play out many times. We’ve heard from countless injured victims who accepted those fast settlement offers, only to later realize they needed more money. Unfortunately, they signed away their rights to ask for more money when they accepted.

Simply put, never accept the insurance company’s initial offer without knowing exactly what your claim is worth. The best way to do that is to have an experienced Roanoke auto accident lawyer on your side. Contact us today for a free consultation. We’ll help you learn the value of your claim.