How to Respond to a Lowball Settlement Offer

If you’ve had a car accident, it’s a relief to know the other party could be responsible for your damages. However, if insurance adjusters call you with a lowball settlement offer, that relief quickly gives way to potential frustration and anger.

It’s incredibly common for insurance companies to hand out low settlement offers at first. The good news is that you don’t have to accept a settlement offer if you don’t like it. With the help of personal injury lawyers from Leaser Law Firm, it may be possible to negotiate for more.

Here’s what to do if the insurance company gives you an insulting settlement offer.

Signs That the Insurance Company Is Lowballing You

Sometimes, it’s tough to know whether the insurance company is lowballing you or you merely think it owes you more. If any of the following signs sound familiar, odds are that your case is worth far more than the insurance adjuster says:

• The settlement offer comes surprisingly quickly. Usually, it takes at least a month for the adjuster to review your claim thoroughly. If you receive an offer much sooner, chances are it’s too low.
• The insurance company says it doesn’t pay for non-economic damages. This is a lie.
• The insurance adjuster pressures you to accept the offer right away. That might be because they know it’s unfair and hope you’ll accept the offer before you realize it.
• The adjuster refuses to explain how they arrived at your settlement offer.
• The insurance company tries to downplay your injuries. It’s not up to the insurance company to decide how badly hurt you are. That’s you and your doctor’s job.
• The insurance company says the accident was your fault. If you know that’s not true, the adjuster is potentially giving you a lowball settlement offer.

Reasons for a Lowball Settlement Offer

To an insurance company, nothing matters more than its bottom line. Adjusters want to pay as little as possible for insurance claims and will pull every trick imaginable to do just that.

Often, the insurance company succeeds. Not everyone knows they don’t have to accept a lowball settlement offer. They’re unaware they can negotiate for more. Or maybe they don’t feel like fighting the insurance company and want to put the whole mess behind them.

Sometimes, the insurance company might provide a poor offer if your case lacks evidence. If this applies to you, your personal injury attorney can help you gather evidence and submit it to insurance adjusters.

What to Do If You’re Unhappy With Your Settlement Offer

If the insurance company gives you a disappointing settlement offer, don’t accept it. Instead, follow these steps:

1. Review the insurance policy carefully to ensure it covers everything you want compensation for.
2. Review the settlement letter to understand why it’s so low. Not all settlement letters may include the reasoning behind the amount, though, in which case you’ll have to call the adjuster.
3. When you speak to the insurance adjuster, ask why they offered you that specific amount and what damages they excluded from the settlement.
4. Collect and submit more evidence if necessary.
5. Have your lawyer send a counteroffer to the insurer. If the insurer rejects the counteroffer, your recourse may be to file a lawsuit.

Leaser Law Firm Plays Hardball With Stingy Insurance Companies

Did the insurance company offer you a settlement that doesn’t even begin to cover your damages? Instead of accepting, reach out to attorneys at Leaser Law Firm for advice. Our attorneys will fight your lowball settlement offer and represent you in court if necessary. For a free consultation, call (954) 233-3515.