While you can attempt to negotiate with the insurance company after an accident caused by another’s negligence, it carries several risks, including potentially undervaluation of your claim, being subject to unfair adjuster tactics, and waiving future legal recourse. Without legal representation, you won’t be able to effectively advocate for your interests. Please continue reading as we delve deeper into the dangers of negotiating directly with the insurance company and how an experienced New York City Personal Injury Attorney can help you fight for the compensation you deserve.
What Are the Risks of Negotiating Directly With the Insurance Company?
First and foremost, it’s important to understand that the intricate legal landscape and nuanced details of insurance polices can often lead to misinterpretations and missed opportunities for those without legal expertise. To ensure you understand your rights and maximize your chances of a favorable outcome, it’s in your best interest to enlist the help of a qualified personal injury attorney.
Without the guidance of a legal professional, you might be unaware of the full scope of damages that you could be entitled to. These damages extend far beyond the immediate and apparent economic losses, such as medical expenses and lost wages. They also encompass non-economic damages, which can be substantial and life-altering, including pain and suffering, loss of enjoyment of life, and loss of consortium. Failing to recognize and account for these losses could lead to accepting a settlement offer that is significantly less than what you deserve. A New York City personal injury attorney can accurately assess the full extent of your damages and fight to ensure you receive fair compensation.
In addition, insurance adjusters typically begin negotiations with very low settlement offers, hoping that you will accept them without realizing the true value of your claim. They employ various pressure tactics to convince you to settle quickly, as their primary goal is to minimize payouts. Without legal advice, you may make a statement or divulge information that could be misconstrued and used against you. It’s crucial to keep in mind that the insurance company does not have your best interests at heart.
Can I Refuse a Settlement Offer?
Many victims are hesitant to reject a settlement offer, especially when facing financial pressures, believing their case will automatically go to trial. However, rejecting an offer simply opens the door for further negotiations. Your attorney can counter with a new offer that better reflects the full value of your claim.
You should note that when you accept a settlement from an insurance company, you waive your right to pursue additional compensation. This means if your injuries occur or you incur further expenses in the future, you cannot take legal action to recover compensation. Before accepting an offer, it’s highly recommended that you consult with a knowledgeable attorney, as accepting a settlement could potentially leave you financially vulnerable down the road.
At The Law Offices of Brian J. Elbaum, we are prepared to guide you through this complex process and fight for the maximum compensation to which you are entitled. Connect with our firm today to learn more about what we can do for you during these difficult times.
