Rejecting a Settlement Offer: What You Need to Know

When you have an insurance claim after a car accident, one possibility is to resolve your claim through an agreement. However, refusing the offer isn't as simple as requiring your insurance company to present you more money. Instead, you need to write a formal letter rejecting the agreement. This letter should include why you need more money and a counteroffer based on your injuries and damages.

A deal offered initially isn't likely to fully compensate you.It's not wise to accept without legal representation, as doing so may eliminate your chance of getting well-deserved additional compensation. If, after thinking about what is reasonable and about the policy limit, you still think that the offer you have is too low, you can reject it. Always reject a written settlement offer. Write a letter to your contact at the insurance company with a list of reasons why you think your offer is too low.

Support these reasons with concrete evidence attached to the letter. Finally, make a counteroffer of a sum that you consider more reasonable.The first liquidation offer is just that: an offer. If you have decided to decline the insurance company's first offer, it doesn't mean that you are no longer entitled to seek compensation. If you want to decline a settlement offer, you must send a letter describing your refusal; it is in your best interest to draft it with the help of an experienced attorney.Think of the insurance company's first offer as the start of negotiations to reach an agreement.

The complexity and length of negotiations to reach an agreement on a car accident will depend on several factors, including the severity of your injuries and whether the fault for the accident is clearly established or not. Keep in mind that if you decline a settlement offer, that means that it will likely force your case to go to trial.Even experienced lawyers who negotiate personal injury settlements every day will tell you that no amount of negotiating skill will allow you to reach a gigantic settlement that will install you in a giant mansion for life. Therefore, assuming that the at-fault driver has car insurance, the insurance company will offer you a settlement and, if you have an attorney, he or she will be the intermediary.Negotiating your personal injury settlement with an insurance company can be a harrowing experience that is best left in the hands of an experienced attorney. In most medical malpractice and accident cases, a settlement is not taxable because it's not considered income.If at any time you would like additional information about whether the settlement offer you received is reasonable and fair, the attorneys at The Advocates will be happy to provide you with a free consultation and answer any questions you may have.

Third, if you and your attorney haven't already done so, it would be a good time to write and send a detailed demand letter to the at-fault driver's car insurance company (send it to the insurance adjuster who made you the first settlement offer).If you have been presented with a settlement offer that you think might not be appropriate, call the Bryan Garrett Law Firm today at (40) 839-8424 for a free consultation. When you receive the initial settlement offer in writing, examine the reasons the insurance adjuster has given to justify the low settlement amount.The first thing to know is that, after any car accident, the insurance company's first settlement offer is just that, the first of perhaps many. If you don't agree and decide to refuse the offer, I'll talk to the defense attorney again and let him know that the offer is not acceptable and see if he's willing to continue negotiating.Injured people who work with an attorney tend to receive higher settlements than those who represent themselves. When you have an insurance claim after a car accident in New York, one possibility is to resolve your claim through an agreement.

Based on that information, the counteroffer will include the amount of the settlement that you and your attorney have determined is fair.

Darrell Trimboli
Darrell Trimboli

Wannabe tv buff. Certified web scholar. Subtly charming tv maven. Avid tv guru. Hardcore beer specialist. Infuriatingly humble student.

Leave Message

Your email address will not be published. Required fields are marked *