If you are injured in an accident that was someone else’s fault, you can typically file a claim against their insurance — but you may not have to wait long. In fact, it isn’t unusual for insurance adjusters to reach out to injury victims and, with lightning speed, offer to settle the claim.
As tempting as their offer might be, it is typically best to refuse it – at least until you have talked to an attorney.
What’s wrong with their offer?
Insurers are businesses, and they make money by ensuring the money they collect from policyholders exceeds what they pay out on claims. So, totalled across the board, the more claims they can reject or reduce, the higher their profits will be.
Insurers typically start with a low offer when trying to settle a claim. They know that a percentage of people will accept it because they do not realize what they ought to receive, or because their financial situation means a quick influx of cash could solve some of their most pressing problems.
The big problem with accepting this early offer is that you could come to regret your decision if your injuries turn out to be worse than initially thought. A doctor’s initial assessment that you will make a full recovery in weeks could turn out to be too optimistic. Or maybe you feel fine, so you never even go to the doctor and only realize you have a serious injury some weeks after the incident – some injuries can take that long to present. The true cost of an injury often turns out to be much more than expected.
While you do need to file a personal injury claim within the state’s two-year statute of limitations, you have time to wait a little to better understand the true cost of the injury to you. Prompt legal guidance can help you determine how and when to move on your claim.