Should I accept the insurance company’s initial settlement offer?

When dealing with a personal injury claim, it’s important to understand that initial settlement offers from insurance companies are often lower than what your claim is truly worth. Insurance companies are businesses, and their goal is to minimize payouts as much as possible. They may offer a quick settlement in hopes that you’ll accept it before fully understanding the extent of your injuries, future medical costs, lost wages, and other damages.

Accepting a low offer too soon could mean missing out on the full compensation you deserve, especially if your injuries require ongoing treatment or impact your ability to work. Once you agree to a settlement, you typically waive your right to seek additional compensation, even if you later realize the amount wasn’t enough to cover your expenses.

That’s why it’s crucial to consult with an experienced Long Island personal injury attorney before accepting any settlement. A skilled lawyer can:

• Evaluate the true value of your claim, considering medical bills, lost income, pain and suffering, and future expenses.
• Negotiate with the insurance company to push for a fair and just settlement.
• Protect you from unfair tactics used to pressure you into settling too soon.
• Advise you on whether taking the case to court may be necessary if the insurance company refuses to offer reasonable compensation.

At Palermo Law, we fight to ensure our clients receive the maximum compensation they’re entitled to. Before accepting any offer, schedule a free consultation with our team to discuss your case and make sure you’re not settling for less than you deserve.