After filing a car accident claim in Grand Junction, the insurance company will conduct its investigation to determine the liable party. After the investigation is completed, the company rolls out an initial settlement offer for the victim. The settlement offer is usually a compensation amount that you can accept from the insurance company for your injuries and losses.
But, should you accept the settlement offer, or can you get more from the insurance company? Well, it is advisable not to take any decision to settle your claim or rush to accept the claim without consulting a car accident lawyer Grand Junction, CO, since the initial settlement may not cover all your injuries and losses.
The initial settlement offer is usually the lowest.
The insurance company does not want to pay you a higher amount from their pocket. Therefore, they try to lure the victims in through their various tactics and hand over an initial settlement offer, which is usually the lowest. The insurance company offers the lowest settlement first because they do not want you to get maximum compensation. Second, the insurance company believes you will settle for less, thinking this is the maximum you can get.
Often victims think legal procedures will take a while, and they are unsure about the outcome. Therefore, to eliminate the hassle, they accept the settlement in a fear that if they reject this settlement offer, they will not get anything ahead. However, this is certainly not true.
Your lawyer can reject the settlement offer and negotiate for a higher settlement.
You are not obligated to accept the initial settlement offer. Once you receive the settlement offer, allow your lawyer to review it carefully. You do not have to conclude the decision right away. Let your lawyer take time to see if the settlement amount covers your injuries and losses. If the lawyer believes that you deserve more, they can negotiate with the company on your behalf. Remember, you cannot simply deny the compensation and ask for more without providing evidence of the amount being insufficient to cover up your injuries and losses.
Your case will go to trial if both the parties fail to negotiate.
The last thing the insurance company wants is your case to go to trial. Most car accident cases are settled out of court as litigation can be time-consuming. If the insurance company is aware that you deserve higher compensation, they know they will have to pay you more if the case goes to trial. However, when you and the insurance company fail to negotiate, the case will go to trial, where the jury will decide who is liable and the compensation amount you are bound to receive.