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Legal Blog

Do I Have to Take an Insurance Settlement?

Posted by: The Krist Law Firm, P.C.

Most personal injury claims are resolved through negotiated settlement agreements and never make it to a trial. If you have been hurt in an accident due to another party’s negligence and filed a claim with the insurance company, you may be wondering how the settlement negotiation process works. The most important thing to understand is that you are not obligated to take the initial insurance settlement offer from the insurance company and there are a number of reasons to avoid doing so. Additionally, you should keep in mind that if the negotiation process stalls and you aren’t being offered fair compensation, an alternative to agreeing to a settlement amount is to take the matter to court and fight for the deserved compensation.

What Will an Insurance Company Offer?

Once you have filed an insurance claim, you will likely be contacted by an insurance claims adjuster. It is not uncommon for insurance companies to want to settle your claim quickly and for as little money as possible. After all, insurance companies are profit-motivated and they are not looking out for your interests. Insurance adjusters will typically make an initial “low-ball” offer to make your claim go away, which, depending on the circumstances, may be insufficient to cover all of your losses.

Although financial burdens such as mounting medical bills, time off from work and other unexpected expenses can make it tempting to quickly settle your claim, you should avoid accepting an offer before you know the full extent of your injuries. If you accept a settlement before you know the full extent of your injuries, you will not be entitled to seek additional compensation for losses incurred later on. This is why it is important to know the full value of your claim before accepting anything the insurance company offers.

When you receive an amount that is too low to adequately compensate you for your injuries, you have the right to reject the offer and attempt to negotiate with the insurance company for a fair amount. It is advisable to speak with a personal injury lawyer about your rights because an experienced personal injury attorney can evaluate how much your claim is worth, assist you with filing a claim, negotiate with the insurance company on your behalf, or handle a trial to reach a fair amount.

It is especially important to work with a personal injury attorney if you sustained serious injuries in an accident, if there were multiple parties involved or your claim has been wrongfully denied. Dealing with the insurance claims process after you have experienced a serious accident can be overwhelming. At the Krist Law Firm, P.C., our goal is to shoulder the burden of dealing with the insurance company or other responsible parties while you focus on the healing process.

How Our Houston Personal Injury Attorneys Can Help

At The Krist Law Firm, P.C., our talented team of Houston personal injury attorneys have successfully handled the following types of cases:

We will strongly advocate for your interests and fight to obtain a fair recovery for your injuries as quickly as possible. We pride ourselves on providing sophisticated and knowledgeable representation with the goal of securing the maximum compensation possible for our clients. Allow us to put our experience, resources, and skills to work for you while you focus on what matters most–recovery.

Contact us today (281) 283-8500 to schedule your free consultation and find out how we can help with your personal injury case.