Following an accident, negotiating with the insurance company can help ensure you receive compensation for your damages. However, navigating this process alone can be detrimental, potentially resulting in less compensation than you are legally entitled to. An experienced Bronx Car Accident Lawyer can level the playing field, as they possess the knowledge and expertise to negotiate effectively with insurance companies. Please continue reading as we explore the risks of negotiating directly with the insurance company without legal counsel in New York.
What Are the Risks of Negotiating Directly With the Insurance Company?
First and foremost, it’s important to note that insurance adjusters often contact victims quickly after an accident to settle the claim before the victim has fully evaluated their losses or injuries. They usually employ delay tactics to pressure victims into accepting lower settlements or making statements that could be used against them. Adjusters are skilled at minimizing payouts. Without legal counsel, you may be unaware of the full value of your claim and accept a settlement offer that is significantly less than you are entitled to. You may not be able to effectively challenge their assessment or negotiate a fair settlement.
Do I Have the Right to Refuse a Settlement Offer?
Insurance adjusters don’t have your best interests at heart, as their primary job is to maximize profits for their employer, not to ensure you receive the full compensation you deserve. While they may act like they are looking out for you during this difficult time, they will try to get you to say things that can be used against you, so be careful about what information you disclose.
While accepting an initial settlement offer may seem appealing, especially if you are facing financial pressure due to mounting medical bills and lost wages, it’s advisable to consult with a qualified attorney before accepting any offer. These initial offers are typically lowball attempts to minimize the insurance company’s liability. This can result in you receiving less than you deserve for your injuries and damages. Don’t feel pressured to accept a settlement offer immediately, as you have the right to refuse the offer. If you disagree with the insurance company’s assessment, you can reject the offer, continue to negotiate, or pursue other options.
It’s important to understand that once you accept a settlement offer, you relinquish your right to pursue further compensation for the specific accident. This means if you later discover additional injuries or expenses, you cannot go back and try to negotiate a higher amount or file a new claim. This may leave you financially vulnerable down the line.
Consulting with an attorney from James Newman, P.C. is highly recommended to ensure the offer is fair and reasonable and that you understand the implications of waiving your rights. Connect with our firm today for guidance and skilled representation.
