When Your Car Insurance Adjuster Doesn't Offer Enough Money
When you secure car insurance, you are investing in the future. Driving a car comes with certain known risks. The risk that your car will be hit in a parking lot, that the recklessness of another driver will cause an accident, or that adverse road conditions might result in damage; these are all part of being a driver. So you get car insurance to cover any repairs, injuries, or vehicle replacement that might be necessary in the event that an accident occurs.
You are counting on that insurance policy. You pick your coverage carefully to ensure that potential costs are taken care of. But what do you do if your car insurance adjuster makes a settlement offer that is too low?
You Don't Have to Accept the First Offer
First and foremost, know that an "offer" is just that. Insurance companies like to act like their initial offer is derived by an algorithm and it's all they will give. However, that's not actually how the system works. You can negotiate or fight for a better settlement offer, as long as the amount you seek is within the terms of your insurance policy.
If the insurance company is offering an amount lower than your full coverage, you can counter-offer or appeal with a request for a bigger settlement based on your policy and the conditions of the accident.
Why Insurance Companies Offer Too-Low Settlements
Why do insurance companies try to give less than your policy is worth? You worked hard to select the right policy for peace of mind, and a too-low settlement offer is anything but peaceful. When you are looking at medical bills, missing work, and car repairs (or vehicle replacement) you need the full value of your insurance policy to cover the costs and anything less will cause you financial harm.
Insurance companies do this because that is the nature of their business model. They make money by collecting premiums and then minimizing the claims they pay out. The good news is that it's not personal. The bad news is that lowballing and fighting against higher settlements is built into the system.
Factors That Can Increase Your Settlement Value
Often, a settlement offer will be too low because the insurance company has undervalued contributing factors. Both in an insurance claim and in a personal injury lawsuit, there are key factors that can and should increase the value of your case.
- Lost wages - Time you spend away from work due to injury and recovery
- Long-term medical costs - Physical therapy and temporary or permanent disability expenses
- Psychological harm - Trauma from the accident
- Pain and suffering - Undue suffering and anguish as a result of the accident
The specific details of your case may include other unique influences on your potential settlement value.
Know Your Options for a Better Car Accident Settlement
Fortunately, you have options. If your car insurance adjuster offers a lowball settlement that won't cover your needs, you don't have to accept it. There are several escalating steps you can take to get a better settlement and the full rightful value of your insurance policy.
Negotiate With Your Adjuster
First, you can counter-offer. You can ask for a larger amount and negotiate with your claims adjuster based on the conditions of your case. You can point out the terms of your policy, the limits of your potential settlement, and argue against any reasons your adjuster might be using to reduce your settlement offer.
Get Legal Help Fighting for a Better Settlement
Of course, insurance companies are built on denying or minimizing settlement claims. That is why car accident lawyers specialize in fighting for a better settlement on your behalf. A lawyer can bring the full force of their legal knowledge down on an insurance company to present evidence, refute their claims-winnowing justifications, and insist that you be granted the full value of your policy as is appropriate to the situation.
File a Lawsuit to Cover Your Remaining Costs
If your insurance company refuses to play fair or if your policy does not cover the full extent of your financial needs after a car accident, you can also file a lawsuit.
With the help of a car accident lawyer, you can sue the insurance company for failure to honor your policy or sue the party responsible for your accident to personally cover your full medical and repair costs.
Claim Your Rightful Auto Accident Settlement with Schwartz Law Firm
If you have been in a car accident and your adjuster is trying a lowball settlement offer that doesn't cover your needs, we can help. You don't have to fight the insurance company alone. Schwartz Law Firm will help you negotiate for a fair settlement and, if necessary, seek further compensation to aid in your recovery after an accident.
Contact us to consult on the details of your case.
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