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How to Recognize a Low Settlement?

How to Recognize a Low Settlement?

Updated on Monday 11th December 2017

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How-to-recognize-a-low-settlementThe first step after suffering a personal injury in Los Angeles is to recover followed by filing the claim with the insurance company which will make an offer to cover the damages of your accident. Even if things seem very simple, they are not that simple in fact. That is because the insurer will usually try and make the lowest offer, especially if the injured party has come unprepared. This the time to discuss your case with our Los Angeles personal injury attorneys.

The lowest settlement in an insurance claim

When filing a claim with an insurance company it is best if you go accompanied by our Los Angeles personal lawyers who can verify if the insurance adjuster, that is the person who you meet with for the first time, has made a fair calculation of the compensation you deserve. In most cases, or better in all cases, you will be dealing with experts in insurance claims who will make you lowest settlement possible. How can you recognize a low settlement? Here are some steps you should follow before going to the insurer:

  • -          gather all the bills and add up all the expenses from the time of the personal injury and calculate the amount;
  • -          if emotional distress was a consequence of your accident, you can also be compensated for that, so you might want to add that to your claim;
  • -          verify what the amount of your insurance coverage is;
  • -          use a personal injury calculator.

Once you have calculated the compensation you think you deserve, you should consult with our L.A. personal injury lawyers and recalculate the amount and only after going to the insurer.

Our lawyers further describe how to recognize a low settlement in the following video:

How to tell if you were offered a low settlement

The first sign you were offered the lowest settlement possible is the insurance adjuster who will contact you in a short while with an offer. If you have calculated your compensation before, you will see that right away. Another way of recognizing a low offer is the so-called adjuster authority the person you are dealing with will invoke. While the insurance adjuster will offer the lowest settlement possible, the adjuster authority is usually the supervisor who establishes the amount you should be offered, a compensation which is higher than the first offer.

Refusing a low settlement

If the initial settlement offer from your insurance company is much lower than you expected, you should not be surprised not alarmed. It is in the company’s best interest to settle low amounts so that they can keep their profits high and their business running. This is not unusual. However, you should know that you can make a counteroffer. For this purpose, you should send a letter to the insurance claim adjuster, restating your claim and, if needed, stating additional evidence and reasons for a higher offer. One of our Los Angeles personal injury lawyers can help you write the counteroffer letter and negotiate with the insurance company.
 
As a general rule, the settlement rejection letter includes your full identification details, the case details including your insurance number, claim number, etc., and an express statement that you refuse the settlement and that you request the company to reevaluate the facts of the case. Once you’ve sent your counteroffer you should also start to consider the possibility to take the case to court. At this stage, it helps to weight in your options with the help of your lawyer.

No matter the settlement you are offered, our Los Angeles personal attorneys advise you to decline the lowest compensation in writing and not to forget the statute of limitations when filing a claim for a personal injury.

For assistance in calculating the compensation and recognizing low offers, please contact our Los Angeles personal injury attorneys.

 

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