If the insurance company offers me a settlement, what do I do?

If the insurance company offers me a settlement, what do I do?

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Having an auto insurance company is a great advantage. First, it enables us to comply with the law; then, we have the support it provides in a traffic accident (which is not uncommon, therefore it justifies its existence, of course).

However, we must always bear in mind that, although the service seems to support us financially, the company will always seek to pay the minimum of the costs involved. Depending on the conditions, it will try to reach an agreement with its insured, which many agree to because they do not have the proper advice.

In the following article, we answer a common question on these topics: what to do when the insurance company offers a settlement? As knowledgeable of the laws and experts in the legal aspects of traffic accidents, we answer the following.

Insurance companies do not necessarily bear all the costs of an accident

Whether rented or owned, having a vehicle is a great benefit in today’s world. Through this, we can travel long distances and, of course, get to work on time. However, like everything in life, driving is not without risks; On the other hand, it is one of the activities that most expose us to accidents, although they are avoidable for the most part.

Fortunately, it is also customary (and required by law) to hire an insurance company to take care of damages in the event of a car accident. We pay a certain amount of money monthly or annually to enjoy this benefit. However, this does not necessarily apply to all cases, as we already indicated.

Most of the time, insurance will offer the driver of the vehicle a deal that generally favors the company more than its customer. However, the latter can refuse to accept it and take legal action to renegotiate the agreement to obtain maximum compensation for the damages.

What to do after a car accident?

If you are involved in a car accident, the immediate step is to notify the vehicle’s insurance company. With this, the usual protocol will have already been complied with.

They will probably ask you questions with details about the accident during the notification. It’s important to be truthful as this could limit future collaborations. However, it is important to never admit guilt for the event and never accept any offer before obtaining the opinion and advice of an experienced attorney.

The next thing is to find out about the rights and benefits offered by the company. To do this, you need to read the contract carefully to identify the type of coverage you have, what it covers, and what you should not expect.

Once this is done, the next thing is to contact an experienced auto accident attorney. And, as is customary when hiring this type of service, proceed to count what happened in great detail without hiding facts that could later be used against you. The lawyer will be in charge of negotiating with the insurance company the best agreement for both parties and, if this is not possible, a lawsuit may apply.

And, in this regard, it is also advisable to take photographs that show the damage suffered by the vehicle, the license plates, the context and location of the accident. Similarly, a picture of the injuries of those involved and, mainly, of the owner, since all of these will serve as evidence during negotiations or trial.

Documents to be delivered to the lawyer

Once an attorney has been contacted, the next step will be to gather a series of documents needed in the process. These are the police report of the accident, copies of all medical reports, details of those involved (names, driver’s licenses, insurance company policies), any correspondence from the driver, and the names of witnesses. To this file must also be added the photographs taken at the accident scene, which will provide further evidence of the damage.

This documentation will not only help the lawyer understand the context of the events; It will also reduce investigation times and therefore increase the probability of establishing an agreement with the insurance company.

Some cases will merit a legal claim

After reviewing the documentation, the attorney will contact the insurance company of the involved driver to exchange information and evaluate the case. As we mentioned initially, the latter will always advocate assuming the lowest possible cost.

Therefore, part of the lawyer’s job will be to counteract this trend and offer other options in favor of the beneficiary. If the lawyer, and consequently his client, does not agree with the amount provided by the insurance and the lawyer refuses to give more, a lawsuit may take place.

However, it is important to note that the presence of a lawyer will not always imply transferring the case to court. Instead, they should see themselves as knowledgeable advocates who will take it upon themselves to use the laws to improve compensation for damages from the insurance company.

Many companies prefer to negotiate a better settlement agreement out of court, leading to a cheaper and faster procedure. And, although certain situations may warrant this measure, there is also the possibility of negotiating the settlement during the trial. Everything will depend on the decision of the parties involved.

In conclusion: is it wise to accept the settlement offered by the insurance company?

Now that the trend of vehicle insurers when accidents happen has been explained, readers may have a clearer idea about the answer to this question. If there is one sure thing, the companies will try to reduce their liability to a minimum through the agreement; so the best thing to do is to reject it and seek representation from an attorney with experience in the area.

How to establish a compensation agreement for expenses of an accident?

When the negotiation becomes a lawsuit, the lawyer must present it to the defendants with legal support. Generally, this constitutes what is known as a negligence claim.

The accused party will respond by accepting or denying the allegations and, in some cases, may file a counterclaim. Others may resort to a cross-claim to assign liability to third parties.

This begins the discovery phase, in which evidence is presented and compared. Drivers also give their testimony before a judge or jury. In addition, whenever applicable, medical professionals will provide their opinion on the physical consequences of the accident and its implications.

The driver’s attorney can then present a letter with the compensation he expects from the company. Based on it, the negotiation phase begins, which can last from six months to more than a year. Finally, the judge will give instructions on each party’s responsibilities.

The importance of going to a good lawyer in the event of a traffic accident

Everything that has been said so far only reinforces the idea raised from the beginning: a lawyer could substantially improve the agreement with the insurer. In most cases, whenever applicable, with an attorney representing them, clients can receive a much higher percentage of compensation to cover expenses and needs arising from the automobile accident.Therefore, it is essential to turn to professionals with experience and expertise to address these challenges. If you’re wondering where to find it, you’ve come to the right place. Kannan Law Firm can provide you with a profile capable of obtaining maximum compensation for expenses. Do not hesitate to contact us.