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Why Do Insurance Companies Want to Settle Right After an Accident?

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If you have been involved in an auto accident that was the fault of another driver, and you are unrepresented by an attorney, odds are their insurance company will make you a quick monetary offer to settle the claim. If it is clear that their insured is at fault for an accident, the insurance companies will want to settle any potential claims as quickly as possible so that they will not be responsible for any future medical and personal expenses. 

We explain to clients every day that once you sign a release drawn up by the insurance company, you are giving up your legal right to any future compensation. Simply put, once you sign a general release drafted by the insurance company, your claim is over. 

Early Settlement Offers

Our Memphis auto accident attorneys have heard horror stories of auto accident victims quickly settling with an insurance company before consulting with an experienced lawyer. The initial offers made to auto accident victims by an insurance company typically do not take into consideration all the damages a client may have sustained.

An offer early in the claims process only considers medical bills, expenses, and lost wages to that point in time. This offer will usually not include appropriate compensation for future expenses, bills, and other related economic damages. The unknown nature of injuries sustained in even minor auto accidents is why we always advise clients to take his/her time in the recovery process, while your personal attorney at The Chiozza Law Firm will handle day to day communication with the insurance adjuster.

The Biggest Mistake Commonly Made After a Car Accident

Insurance companies want to minimize your claim value or apportion fault to you for the actual accident. After all, they don’t make money by paying out every claim that is presented. Therefore, it is important that you choose aggressive and experienced legal representation to ensure that your case is properly investigated and presented to the insurance company. In a previous post, we explored the mistakes that are commonly made following an auto accident. 

The number one mistake an auto accident victim can make is not consulting with a local auto accident attorney. At The Chiozza Law Firm, our consultations are confidential and free. Even if you choose not to use our services, you can benefit from knowing that you received quality legal advice to assist you in the claims process. 

Memphis Car Accident Lawyer

If you or a loved one have been involved in an auto accident, don’t allow the insurance company to pressure you into accepting an unreasonably low offer. To achieve maximum compensation for your injuries contact our auto accident team at 901-526-9494, online or via email.

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Disclaimer

This Blog/Website is made available by the Lawyer or Law Firm Publisher for educational purposes only, as well as to give you information and a general understanding of the law. It is not to provide you with specific legal advice. By reading this blog, you understand there is no attorney/client relationship between you and the Blog/Website Publisher. The Blog/Website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

Posted by Brian Chiozza at 2:09 PM
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