Did You Receive a Settlement Offer from a Car Accident Insurance Company after Your Serious Santa Clarita Car Accident? Here’s Why You Should Pause before Saying “Yes”
One of the things that may surprise and astound Santa Clarita car accident victims is how fast the at-fault party or driver’s insurance company may get on the phone to offer settlement money to resolve the victim’s claims. Indeed, after a car accident claim has been filed, the at-fault party’s insurance company may quickly extend a settlement offer to try to obtain a release of all of the car accident victims claims that they may have under the law. While it might be tempting for Santa Clarita car accident victims to accept a check for this initial offer—especially if they are facing mounting medical bills, lost wages from work, and vehicle repairs—it is often best to pause and consider declining the first settlement offer. But why would a Santa Clarita car accident victim reject a settlement check from an insurance company if it means money now and no litigation in court? We answer that question here.
Initial Settlement Offers in Ventura Car Accident Cases: Low Ball Offers?
At the very outset, it is important for Santa Clarita car accident victims to keep in mind that insurance companies are businesses and their primary goal is to minimize car accident payouts and maximize their bottom line. As such, the first settlement offer that a car accident insurance company will likely convey is often designed to be a “lowball” amount to settle the victim’s claims quickly and for as little as possible. Generally speaking, it is likely safe to assume that insurance companies approach car accident settlements with the impression that many accident victims are financially strained and eager to accept immediate compensation, even if it doesn’t fully cover their claims and make them “whole” under the law. Accordingly, the playbook may be to offer a much smaller amount than a car accident victim would likely obtain if they took their case to court and litigated it through to trial.
Finality of Accepting a Car Insurance Settlement Offer in Your Santa Clarita Car Accident Case
Another thing that Santa Clarita car accident victims should keep in mind as they navigate a settlement offer conveyed by a car insurance company is that if they accept the offer and sign a release of their claims, they most likely will never be able to bring their case in court. Indeed, if the court finds that the settlement agreement is legally binding, a car accident victim may be bound by it, even if they could have obtained much more if they would have brought their case to court and only realize it later, after they have signed the agreement.
Help with Car Accident Insurance Company Settlement Negotiations
Before accepting any car accident insurance settlement offer, it is a good rule of thumb to speak with a lawyer first, to make sure you are getting all of what is due to you under the law. If you are in the Santa Clarita area and you need legal help with your car accident case, contact the experienced Santa Clarita personal injury lawyers at the Trevino Law Firm. Contact the Trevino Law Firm today and speak with a lawyer about your case now.
