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Should I Accept the Insurance Company's Settlement Offer?


When you suffer an injury caused by the negligent actions of another party, you may be entitled to recover financial compensation to cover medical expenses, lost wages, emotional distress, as well as pain and suffering.

In most cases, the liable party’s insurance company will make an initial offer of a monetary settlement in an effort to resolve the case immediately. Although it may be tempting to simply accept the insurance check and move on with your life, it is critical to understand all of your options before agreeing to take the settlement.

What Happens If I Accept the Settlement Offer?

If you accept the insurance settlement, your case will be considered closed. This means that you are no longer able to seek additional monetary damages from the liable party in the event you require more medical treatment, rehabilitative care, in-home care, or other expenses caused by the accident and injury.

Furthermore, you release the liable party and their insurance provider from any responsibility, fault, or future claims. This means you are on your own to cover the cost of anything you may need related to the injury.

What Happens If I Reject the Settlement Offer?

If you choose to reject the insurance settlement, you can make a counteroffer to the insurance carrier. Provide an explanation, as well as documentation, as to why you believe your costs associated with the injury are higher than the insurance company’s offer. You should include the doctor’s prognosis, medical expenses, recovery timeline in relation to lost wages, and all other costs associated with your injury.

If the insurance company declines your counteroffer, you can elect to go to trial. If you select this option, ensure you include court and attorney fees in your settlement.

How to Tell If the Offer is Good?

Since most people do not possess the comprehensive knowledge of the legal system or how much their claim is worth, it helps to have an expert on your side. A personal injury attorney can help you navigate the complexities of your case, as well as help you understand your rights and connect you with the right people to adequately determine the extent, nature, and severity of your injuries to build a strong case strategy.

For more information, contact our Fort Worth personal injury attorney at the Law Office of James M. Stanley and request a free consultation today.

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