Don’t Show Me The Money: Why Taking The Insurance Company’s Initial Offer Is Shooting Yourself in the Foot
The reason that you need to beware of the insurance adjustor is that it's their job to limit the amount of compensation the insurance company pays out. Most of the time, they will try to get to you before you've had a chance to speak to an experienced injury lawyer and hope that you aren't aware of the full extent of damages Texas law entitles you to claim.
They'll offer you a check "to put the whole mess behind you." They're like pushy salesmen, except they're trying to pay you. Many adjustors will actually have the check on them and will write it out in front of you. They will pressure you to take their money: DON'T DO IT.
Please understand that the reason I'm advising you not to take that initial offer is not because I'm trying to sell you on hiring a lawyer. Chances are that you should, but the reason that it is critical that you don't take that initial settlement offer is because if you do, that's it. You can't go back asking them for more money later. That's your lot. You've just forfeited your legal rights to any additional compensation.
I can understand why it might be an attractive option to take that money. In your mind you're probably thinking about next month's credit card bill with the ambulance ride to the hospital and the doctors in the ER. If your car has been totaled you're going to need a new one ASAP so that you can continue to work. It can be very tempting indeed. But what you need to realize is that by accepting that initial offer, you're creating a multitude of future problems for yourself.
What are your total medical bills going to come to after all your treatment is said and done? How long will it take you to be back to your normal healthy, able-bodied self? How long will you need to take painkillers or other medicines related to your accident injuries? What about all the wages you've missed out on because you've been stuck in hospital or unfit to work? The truth is that until you can answer all of those questions, you shouldn't even think about settling. It's always heartbreaking when an injury victim contacts us asking for help to pay off their $20,000 worth of hospital bills, when they've already accepted the insurance adjustor's initial offer of $4,000. There is nothing we can do to make things right at that point. No lawyer in Texas could help you.
Talking to a board certified PI lawyer will help you understand your legal rights and why simple mistakes could have devastating consequences. Give us a call today and we'd be happy to discuss your personal situation. Call us toll free at 800-354-6275. You can also request a complimentary copy of attorney Mark Anderson's book 15 Mistakes That Will Wreck Your Texas Accident Case.
Other articles you might be interested in:
Common Traffic Accident Mistakes: DOs & DON'Ts
The Insurance Adjuster Might Seem Nice... But They're Not!
No Health Insurance: How to Obtain the Necessary Medical Treatment After an Accident
What To Do When You Receive a Low Offer
Is There A Deadline For Submitting A Personal Injury Claim?