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There’s nothing as expensive as dealing with an injury. From the cost of medical care to surgeries, transit, loss of work, and physical therapy, you could find yourself in hundreds of thousands of dollars of debt. Nobody wants to deal with that kind of cost. Most talk to their insurance or a lawyer, but when you get that first settlement, you might be unsure about what the next step is.
This is how to determine if you’re being lowballed in a settlement and what you can do next.
1. The Settlement Offer Arrived Quickly
Although there’s no set time frame for how soon your settlement should arrive, and if it’s been rushed or not, if your payment gets there within 48 hours of you submitting a claim, it’s something to be cautious over. To build a fair settlement, they need to talk to their legal team and figure out how much you’ve been through, and look over the evidence.
Many insurance companies will push out a quick settlement offer in the hopes that you’ll accept it out of desperation instead of actually stopping and reconsidering. This is why over 90% of personal injury suits never make it to court.
2. Your Injuries Are Downplayed
One of the top signs you’ve received a lowball insurance settlement offer is if they downplay the injuries you’ve suffered. Do they leave out portions of your injury, like time lost from work or physical therapy? Does the wording feel like they’re talking down to you about what you went through?
Chances are, they’re trying to cover their company from admitting how seriously you were injured and hoping you’ll accept the settlement instead of asking for what you’re actually worth.
3. The Insurer Says You’re at Fault
Does the insurer seem to be implying that you’re at fault? Does it feel like they’re pushing the blame onto you? This is part of how they get around not paying people what they’re worth. It allows them to state that they shouldn’t pay you more because they believe you did this to yourself.
4. They Pressure You to Rush Through
Does it feel like they’re pressuring you to accept the settlement? Did they give you an ultimatum similar to ‘this offer is only on the table for the next six hours’? If so, they could be hoping to get you to agree before you can seriously consider what your time and suffering are actually worth.
What to Do if You’re Being Lowballed
If you’re being lowballed, the most important thing you can do is talk to a lawyer. Show them your offer, tell them about what happened to you, and give them any paperwork or evidence of what you’ve been through. The right lawyer will help you work through this.
You Deserve the Money to Heal
Healing is expensive, but you deserve the chance to go through these steps. If you’re ready to try and get through this injury to the other side, consider following some of these tips.
Also Read: Health Insurance Basics for the First Time Buyers
