Furthermore, your vehicle is damaged and the costs of repair are extremely high. It is for these scenarios that we have insurance. Insurance will help cover all the costs for accident victims. They do so by offering you a settlement that is designed to cover the costs. However, before you accept any settlement offer, make sure to do your due diligence.
Why You Should Be Wary Of Settlement Offers
Insurance companies are in the business of making money. Paying claims for accidents cuts into their profits, so they will do what they can to get out of paying. One of the most common tactics they use is to lowball a settlement offer. They know that auto accident victims are under a lot of stress and financial pressure.
They know that under this duress, people are more likely to accept anything that will help, not necessarily what is right. The problem is, once you’ve signed the settlement offer, you can’t go back to them and file a claim for more. So it is important that your settlement reflects the actual value of your damages.
Ensure You Get The Full Value Of Your Claim
When you review the insurance settlement offer and before you sign, ask yourself the following questions:
- Does this cover all my current medical bills from the injuries?
- Will this settlement cover the costs of all the future medical care that I need?
- Does it cover my lost wages including any lost benefits like PTO, retirement, and health insurance?
- Will it pay for non-economic damages like the pain and suffering I’ve endured from the accident?
- Will it compensate for my loss of earning capacity or job retraining if necessary?
If you cannot definitively answer yes to all of these questions, then your settlement is probably inadequate.
How To Get The Full Value Of Your Claim
The first step is to tell the insurance company that you will not be signing the settlement offer. The second step is to speak to a knowledgeable auto accident attorney. The attorney will review your settlement and determine what is missing. The attorney will then calculate what your claim is actually worth under Florida state law.
Next, they will put together a strategy to provide all the documentation and evidence required to prove the full value of your claim. Finally, they will send a demand letter to the insurance company for the full value and begin negotiations to ensure that you get the actual value of your injuries.
Find The Right Attorney
The best thing you can do after you’ve been injured in a vehicle accident is to speak with an attorney. The insurance company is not your friend and they will try to get out of paying what is fair. Lowballing is just one of the things they will do to get out of paying.
In our nearly 30 years of defending St. Pete’s auto accident victims we have seen a lot from them. We’ve seen them lie and make false claims about the victim’s character, gaslight victims about what actually happened, and even try to drag out the claims process to the statute of limitations so they never have to pay. An attorney will protect you from all of these tricks and fight to protect your rights.
Before you sign a settlement offer, give the St. Pete’s Lawyer, Michael Babboni a call. He’ll review your case for free and discuss your legal options. Michael has a reputation with the insurance companies as someone who does not back down. They know that if he is on the case, they can’t pull any of their usual tricks to get out of paying. He’ll fight to ensure that you get a full and fair settlement for your auto accident injuries.