Should I accept the settlement offer from the insurance company after my accident?

An insurance company is not looking out for your best interests. They are looking out for theirs and accordingly, they work to reduce your claim as much as possible, if not deny it. They may sound and act like they are on your side and are going to help you by settling the case early and quickly, but they are not protecting your interests. In fact, many companies engage in a tactic we call “swoop and settle” to come in and settle with injured persons for a small amount very early on before the person knows how bad they are hurt or otherwise knows their rights.

Insurance companies make money from people paying premiums. This builds up the company profits and encourages them to pay you, the personal injury victim, as little as possible to protect their profits. If they do convince you to settle, you are likely giving up your rights to fair compensation, because once you sign on the dotted settlement line, you cannot ever reopen your claim. This is one of the major reasons why it is best to have a personal injury attorney speak on your behalf while dealing with the insurance company.

If the insurance company calls you, do not speak to them. Just refer them to your attorney, or if you do not have an attorney when they call, inform them that you are in the process of hiring one and that the attorney is going to return their call. Do not discuss the accident at all. Refuse to talk about it and do not respond to questions about it. It is your lawyer’s job to protect your rights. Speak only to your lawyer.

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