Should I Accept an Insurance Settlement?

Last updated on: March 2, 2013


When an insurance company claims adjuster offers you a settlement, make no mistake – these offers are typically tilted in the favor the insurance company.  The focus of the adjuster is to mitigate expenses (referred to as damages) and not necessarily to make sure that you, the claimant, receive appropriate treatment or just compensation for your loss.  Adjusters are often able to do this by offering quick settlements and obtaining releases limiting the insurance company’s exposure before the full extent of your damages can be realized.

Claims adjusters are trained to look for ways to minimize payouts for medical treatment, lost wages, non-economic losses and potential litigation. That is their main focus.  They are also trained in the art of negotiation and would like nothing better than for you to believe that you are receiving all of the compensation that you are entitled to.  This is not always the case and taking the time to identify all of your losses and injuries will help you to determine if you should accept their offer.

There are several things that you can do to make certain you will get compensated adequately for your damages.

Always seek out medical advice and make sure that you know the extent of your injuries before settling any claim.   Make sure that any settlement covers not only your past and current medical expenses, but also your future expenses as well.  You cannot know what the extent of your potential expenses will be until you know what your actual injuries and ongoing treatment are going to entail.  And remember, it is not always possible to know the extent of your injuries immediately following an accident . . . only time and detailed medical testing can determine the extent of your injuries.

Be sure to identify all of your economic losses such as property damage, vehicle repairs (if this involves vehicle accident), lost wages and the expense of replacement services such as transportation to and from the hospital and doctor, household assistance and in-home medical care, if needed.

If you have been hurt by someone’s negligence or lack of care, you may be eligible to collect additional compensation for non-economic losses such as loss of quality of life, current and future lost wages, pain and suffering and distress.  Settling your claim without exploring these other losses may preclude you from seeking compensation for further damages for these non-economic losses in the future.

Lastly, never settle a claim without first getting professional legal advice.  Most attorneys offer free consultations and can help you to determine if you have a legitimate claim and how it should be pursued.  Seeking legal advice early in the settlement process can help you get just compensation for your injuries, medical care, lost wages and non-economic losses, and may result in a better settlement offer to you.

Contact a Plano personal injury lawyer for the experienced and caring legal representation you need following an accident caused by another’s negligence.

Where Zinda Law Group Practices:

We were founded in Texas and have a team of Austin personal injury lawyers as well as attorneys in Dallas and Fort Worth.

 As we’ve grown we expanded out west to El Paso, Texas subsequently into Arizona adding Tucson Personal Injury Lawyers to the firm, as well as adding offices in Colorado including Denver Personal Injury Lawyers and the surrounding cities such as Colorado Springs.

Types of Cases We Handle:

We also have a team of attorneys that have experience serious injury cases such as car accidents, wrongful death and truck accidents.   We also have experience handling more complex cases such as gas explosions and drug injury cases, such as the Taxotere® Lawsuits.