When an insurance company offers a settlement that is too low, you should reject it. After that, you can gather evidence showing that the damages you sustained are worth a higher amount. Then, you can negotiate with the company for a fairer offer.
If the insurer fails to increase the settlement after negotiations, you can then file a lawsuit. However, before doing so, you can consult with an attorney to determine all your options, based on the facts of your case. Let's discuss several things you can do when the insurance settlement offer is too low.
How Can You Determine the Value of Your Claim?
Before filing a claim, you should always identify sustained damages and what you can claim. After that, quantify each item based on the severity and impact on your life and career.
One way to assess your injuries is by working with various professionals. For example, you can consult a doctor to evaluate your health needs if you sustained physical harm. Further, you can work with repair specialists to assess the cost of fixing property damages.
What's more, some injuries may have long-term effects and require prolonged care. When claiming compensation for such damages, you can calculate the expenses you may incur in the future due to your condition.
How Can You Negotiate a Better Settlement?
If an insurer offers a settlement amount lower than the fair value of a personal injury case, you can always negotiate for a better offer. First, ask the adjuster to justify the provided amount. This measure will help you identify the damages the company may have missed. This will also help you determine if the insurer needs more evidence to confirm your sustained injuries.
Once you identify the issues leading to a meager settlement offer, you can evaluate the best way to deal with them. For example, if the insurer denied some damages, you can provide further evidence indicating they resulted from the accident. Moreover, gather proof to justify the value of each injury.
Sometimes, insurers may not provide satisfactory reasons for offering merge settlements. It is best to request your claim file and analyze it in such a case. This step will give you more insights into how the adjusters handle your case. Besides, you may also be able to identify if the company found you partially liable for the damages.
What Factors Can Determine the Value of a Settlement Offer?
While the value of sustained damages will significantly determine the settlement offered by an insurance company, other aspects may also affect the value. For example, if some injuries are due to a preexisting condition, the reimbursement may be lower.
In such a case, the insurer will determine the proportion of damage caused by the specific accident. They will then offer reimbursement for expenses that did not result from a preexisting condition.
When you sustain physical harm in an accident, you should get immediate medical care. If insurers determine that you failed to treat injuries leading to deterioration, they may lower the settlement offer.
Other issues that may affect your claim's value are:
- Partial liability for damages
- Past complaints against the party at fault
- The severity of your injuries
What Damages Can You Recover Through an Insurance Settlement?
An insurance settlement can help you recover various damages. For example, you may get compensation for medical costs if you suffer significant physical harm. Further, an insurer may also reimburse the income and wages you lost due to missing work throughout recovery.
Another damage an insurer may cover is pain and suffering. This injury will include physical pain, such as injuries, and emotional pain, such as Post-traumatic Stress Disorder (PTSD).
If you file a claim for a loved one's wrongful death, it is possible to recover more damages. An insurance company may reimburse the burial and funeral costs. They may also cover medical expenses the deceased incurred before passing. More wrongful death damages to a victim's family may include:
- Loss of companionship
- Loss of consortium
- Future wage loss
However, your ability to sue a faulty party and the damages you can recover often vary by state.
Consult an Attorney Regarding Your Settlement Offer
An attorney can help you determine what to do when the insurance settlement offer is too low. They will also help you negotiate with insurance adjusters and file a lawsuit to recover fair compensation if needed. At Dolman Law Group, we can help you seek justice for damages caused by another party. Call today for a case consultation.