Why You Shouldn’t Take a Quick Settlement for a Car Accident

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According to data from the California Office of Traffic Safety (OTS), more than 200,000 people are hurt in motor vehicle collisions in the state each year. Following a crash, you need full and fair financial compensation for your injuries, including medical bills, lost wages, and pain and suffering.

For the most part, car crash injury claims are handled by insurance companies.

A settlement for a car accident can be the ideal outcome in your case—but only if you receive the maximum available compensation.

Injured victims should beware of quick settlement offers from insurance companies. In this article, our Riverside auto accident attorney explains why it is so important to be patient during the settlement process.

Car Accident Claims are Handled By Insurance Companies

Hurt in a car crash in Southern California? You need compensation to cover your damages. Most likely, your claim will not be resolved through a trial. While there are certainly exceptions to the general rule, the reality is that only a small share of personal injury cases end up in a trial. A settlement is a far more common outcome.

Notably, car accident injury claims are handled—and, if one is reached—settled by insurance companies. Here is the challenge: Insurers are profit-driven entities. They are primarily focused on maximizing their financial returns—and that often means they try to limit payouts for car accident injury claims. You cannot rely on an insurer to look out for what is best for you and your family after a serious motor vehicle collision.

Beware of this Common Insurer Tactic: A Quick, Minimum Settlement for Car Accident

One common tactic insurers employ is offering a quick, lowball settlement soon after a car accident.

This strategy preys on victims’ desire to move on with their lives and their need for immediate financial compensation. It also may take advantage of the fact that the victim may not recognize the true (full and fair) value of their personal injury claim.

Four Reasons Why You Should Not Accept a Quick Car Crash Settlement

Why should you avoid taking that quick settlement after a car crash in California? Here are four key reasons why you should slow down, be patient, and make sure you are getting the best settlement:

  • You Should Not Settle Until You Reach Maximum Medical Improvement: You need to heal before you can even truly think about setting your car accident injury claim. Indeed, settling before you reach maximum medical improvement (MMI) can result in compensation that fails to fully cover all your medical expenses. From a legal perspective, the term MMI is defined as the stage where your condition has stabilized enough to assess long-term impacts and needs. Accepting an offer before this point risks overlooking potential future treatments or complications. Insurance companies might push for an early settlement to avoid covering full medical costs that only become apparent later. 
  • The Initial Offer is Rarely a Fair Offer (Lowball Settlement Offer): Insurance companies “win” when they pay out less than full and fair value to injured victims. Insurers often present initial offers that are significantly lower than what the injured victim’s claim is truly worth. Remember, they are banking on a person’s natural desire for a quick resolution. Be careful: A lowball settlement offer might not take into account the full extent of your damages, such as medical bills, lost wages, and pain and suffering. Accepting such an offer deprives you of the full and fair compensation that they need to cover your damages.
  • Insurers Want You to Settle Before You Get a Lawyer: The insurance company is staffed by experienced adjusters and a team of lawyers. They have lawyers, but they prefer that you do not. Indeed, insurance companies want to deal with injured victims who do not have professional legal representation. Why? It often leads to lower settlement payouts. Having a lawyer can significantly change the dynamics of the negotiation. Unfortunately, an insurer might attempt to rush the settlement process before you can consult with a lawyer who would likely increase the claim value. The presence of a lawyer can deter insurers from presenting a settlement offer that is wholly unfair.
  • You Have the Right to Negotiate for More Compensation: Receiving an initial settlement offer from an insurance company is not a bad thing. They are, at least implicitly, acknowledging that there is liability and that they are willing to pay to settle your care. Remember, a settlement offer is just that: An offer. You have the right to negotiate for better terms—and that means negotiating for additional financial compensation. Negotiation is a standard part of the claims process. In fact, insurers expect it—and they almost always leave room for adjustment in their initial proposals. A top-tier California car accident lawyer can help you navigate the settlement negotiation process.

We Fight Hard to Help Injured Victims Maximize their Car Accident Settlement

Navigating the insurance settlement process after a serious car crash can be challenging. It is crucial to have a top-tier attorney on your side. At The JLF Firm, we fight hard to protect the rights of injured victims. Our team has what it takes to hold insurance companies accountable. Beware of a quick settlement offer. Never settle a car accident case until you know the true value of your damage. Do not let an insurance company pressure you into accepting less compensation that you rightfully deserve under the law. Our car accident attorney is ready to handle insurance adjusters.

Contact Our Riverside Car Crash Lawyer Today for a Free Case Review

At The JLF Firm, our Riverside auto accident attorney provides award-winning, solutions-focused advocacy to injured victims. You deserve a full and fair settlement after a crash. Give us a call now or contact our law firm online to set up a free, no-strings-attached consultation. From our Riverside law office, we are well-positioned to represent injured victims throughout Southern California, including in Downey, San Bernardino, Van Nuys, Pomona, El Monte, and Fontana.

Get in touch with us today to get started with your FREE case review. We’re only a call, click, or short drive away.