When (Not) to Accept an Insurance Company’s Offer

There are generally two ways to end a personal injury case: Accept an insurance company’s offer or take the case to trial and receive a verdict. Our lawyers may pursue both outcomes simultaneously, meaning we consider offers from the insurance company and negotiate with them while preparing the case for a judge and jury.

At Shulman & Hill, our attorneys know when not to accept an insurance company’s offer and when to agree to a payout. This may differ in each case based on the circumstances. To learn more about how we can help you secure fair compensation, call 212.221.1000 for your free initial consultation with our team.

You Need to Know How Much Your Case Is Worth Before Accepting an Offer

One of the biggest mistakes injury victims may make when trying to handle a claim on their own is accepting an offer without knowing how much their case may be worth. The purpose of compensation following an injury is to ensure victims do not have to pay for their treatment and other expenses and losses. The at-fault party and their insurer should pay these costs.

To this end, a victim handling their claim must understand how much their injuries cost them before they can seek the appropriate financial recovery for their case. This requires:

• Gathering documentation of expenses and losses
• Understanding their prognosis and future expenses
• Calculating a value for non-economic damages such as pain and suffering

Without managing these three tasks, there is no way to know when to accept an insurance company’s offer.

Our Attorneys Could Calculate a Fair Settlement Range for Your Case

If our lawyers represent you in your New York personal injury case, one step in this process is determining what a fair settlement might look like. To understand the expenses and losses, we may gather documentation—medical bills, income information, paperwork showing missed work, and receipts.

We would also need to document future damages, which could require help from medical experts. We use our experience with similar cases and knowledge of New York personal injury cases to determine how much your pain and suffering might be worth.

We generally do not consider insurance settlement offers before we have a strong understanding of a claim’s value. Doing so might mean settling for too little money and forcing our clients to pay some or all of their future care needs out of pocket.

Knowing When to Accept an Insurance Company’s Offer Protects Your Rights

When you suffer injuries and losses because of someone else’s carelessness or recklessness, you should not have to pay for your medical bills or cover lost income out of your pocket. Instead, you have a right to pursue fair compensation from that party or their insurer.

However, insurance companies generally want to pay as little as possible to settle accident claims. To this end, they may use several tactics to reduce or deny a claim. Our team knows how to spot these tactics and may be able to prevent them from harming our client’s case. This could include:

• Making an early offer before the victim understands their expenses and losses
• Making lowball offers
• Telling the victim they do not need an attorney
• Using social media, recorded statements, or other “evidence” to downplay the injury

The best way to ensure you understand when to accept an insurance company’s offer is to work with an attorney from the beginning. Our team represents personal injury victims in New York City and statewide.

Shulman & Hill Ensures Our Clients Seek Fair and Just Compensation

Shulman & Hill has recovered more than $250 million in settlements and verdicts for our clients. As New York’s premier personal injury law firm, we know how to determine the estimated settlement range of our clients’ cases. Every case is personal to us, and we fight for the fair and just payout our client deserves.

We navigate even the most difficult and challenging cases and may be able to recover compensation for you. Let us review your case and options during a free initial consultation.

Discuss Your Settlement Options With Our Legal Team for Free

At Shulman & Hill, our personal injury team members provide free case consultations. We review the facts of your case with you and explain how we approach similar cases. We fight for our clients’ best interests. This includes managing negotiations with an insurer and knowing when and when not to accept an insurance company’s offer.

Call 212.221.1000 now to learn more.