My Insurance Settlement Offer is not what I expected?

insurance settlement offers by insurance company in a car accidentYou’ve just been in a car accident in Round Rock. You got medical assistance, followed all the requirements, filed your claim, and you’re not even the one at fault. So why is your insurance company offering you such a small amount to settle your case? 

How Insurance Companies Make Money

You’ve no doubt heard some insurance companies tell you about being a “good neighbor” or being there for the injured in their time of need. However, its bona fide business is not being your friend – it is taking in as many premium dollars as possible while paying out a few dollars in settlement or claims as they can. 

Since you’ve got a lot of figures adding up from medical and hospital expenses, repair bills on your vehicle, and probably lost time from work, the insurance company and its personnel know you are under pressure to settle so that you can stop your financial stress and make some payments and recover. Please don’t doubt that the insurance companies understand this pressure and will try to take advantage of it to give you the fewest claim dollars possible.

How Insurance Companies Keep Your Money

As we said previously, this is standard practice in processing insurance claims. You want the most you can get, and they want to give you the least you’ll take. So, what tactics do they employ to support their initial lowball offer?

Your Medical History

It is common for the insurance company and its attorneys and adjusters to focus on your past medical history. They will try to argue that your medical history is a factor in your injuries, that the accident didn’t really cause them, or they’re much worse because of your health issues. This stance is disingenuous in a variety of ways. 

First, your injury is your injury. If you suffer a skull fracture and brain injury, the fact that you had a prior illness is probably not relevant. But, beyond that, Texas law says you take your victims as you find them, whatever their prior health history. Don’t let them distract you with this issue if they claim that your prior medical history should reduce your settlement.

Your Injuries are Not that Serious

The insurance company’s lawyers and adjusters will try to minimize your injury and its consequences. They will deny the seriousness or severity of your injuries and try to discount noneconomic damages like pain and suffering. And, even though Texas caps noneconomic damages at $250,000 per claimant, an insurance company would really rather not pay that out.  Watch out for the belittling of your claim.

Denying Your Claim or Limiting Liability

You may encounter this in negotiations or in a falsely polite and friendly letter, which utterly denies your claim. This communication often states that you weren’t injured or their driver wasn’t negligent. Sometimes, they will offer you a small sum of money to placate you while denying liability.

 

Contact A Round Rock Personal Injury Attorney 

Before you accept – or even discuss – any settlement offer, consider consulting with an experienced and knowledgeable personal injury attorney at Elissa I. Henry Law Firm, PLLC. We can help you obtain the best possible settlement from the insurance company. Contact us for an initial review of your case or call 512-766-4529.