If an Insurance Company Offers Me a Lowball Settlement, What Should I Do?

person on computer with insurance paper

When involved in an accident, it can be hard to put a price tag on the pain you’ve endured. However, receiving compensation can help ease the financial strain the accident has left you in. If you believe you are being offered a lowball settlement by the insurance of the negligent party, understanding the factors that influence an accident claim can help ensure you comprehend the value of your damages. Luckily, the following blog and personal injury attorneys in Baltimore County can help you through these complex matters and ensure you receive a fair offer for the harm you’ve suffered as a result of the negligence of another party.

What Factors Influence the Value of My Accident Claim?

When you are involved in an accident, there are several factors the insurance company will take into consideration when determining how much compensation you should receive.

The first is economic damages. These represent quantifiable monetary losses you have suffered in the accident. Most commonly, these represent medical bills but can also reflect any property damage incurred in the accident or wages you lost because you had to take time off work to heal from the accident.

Additionally, you can receive compensation for non-economic damages. These are any emotional losses you’ve endured, like pain and suffering, humiliation, or loss of enjoyment of life. Because these do not have an attached monetary amount, they are more subjective to calculate.

How Do I Know I’m Getting a Lowball Settlement Offer?

Considering the aforementioned elements can help you determine whether or not the settlement you are being offered is fair. However, there are additional factors that you can consider. Signs you are being lowballed include, but are not limited to, the following:

  • Receiving an offer too quickly
  • Being pressured into accepting
  • Trying to blame you for the injuries you endured
  • Claiming your injuries are not severe or were pre-existing conditions
  • The claim doesn’t represent the total amount of medical bills, let alone non-economic damages

How Can an Experienced Attorney Assist Me Through These Matters?

If you believe you are being lowballed for your settlement claim, ensuring you have an experienced attorney to help you through this process is critical. Unfortunately, insurance companies provide less than adequate settlements in the hopes that accident victims are too desperate for the funds, meaning they will accept quickly or do not understand the full value of their claim. However, an attorney can help determine what your accident is worth to help ensure you receive the funds you are entitled to.

At the Law Offices of Markey & Orsi, our dedicated team will do everything possible to assist you through these complex times. We aren’t afraid to negotiate or fight with insurance companies to help ensure you get the funds you deserve. Connect with our team today to learn how we can help you with these matters.

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