If you’ve recently been injured in an accident due to another party’s negligence, you may file a claim with their insurance company to seek monetary compensation for the damages you’ve suffered. While you may expect the at-fault party’s insurance company to treat you fairly and offer you what you deserve for your losses when settling your claim, you’re sadly mistaken. Unfortunately, the insurance company is a business that is only focused on saving as much money as possible. Therefore, you should expect that they may offer a lowball settlement that is significantly less than you deserve. Before accepting any settlement offer, it’s in your best interest to enlist the help of a seasoned Morris County Personal Injury Attorney who can help protect your rights. Please continue reading to learn how to respond to a lowball settlement.
What is a Lowball Settlement?
Following an accident, insurance adjusters intentionally approach victims while they are vulnerable and unaware of their claim’s full value. They will look for ways to reduce what they have to pay and avoid a court case. After filing a claim, it’s essential to understand that the first offer is usually always a lowball amount. Although they may be willing to settle fast, that doesn’t necessarily mean that you should accept their offer, especially if you haven’t fully recovered yet, as it’s likely far less than you deserve. Essentially, a lowball settlement is an offer that is significantly lower than what is fair and reasonable.
What Should I Do if the Insurance Company Offers a Lowball Settlement in New Jersey?
The insurance company will initially offer you a low amount, hoping you will want to settle your claim as quickly as possible. This is especially true if you are navigating this process without legal representation. If the insurance company refuses to compensate you fairly, consult an adept Morris County personal injury attorney who can help you fight back and assert your legal rights. Insurers often take claimants more seriously when they have acquired legal representation.
The most effective way to respond to lowball settlement offers is by enlisting the help of a qualified attorney who can negotiate a fair settlement so that you can collect the money you need to get your life back on track. They will figure out why the insurance company is lowballing you. They will make a counteroffer on your behalf once they determine how much your claim is worth. It’s important to understand that you are not obligated to accept any settlement offer. If your counteroffers are repeatedly denied and the insurance company refuses to be reasonable, you can file a civil lawsuit.
If you’ve received a lowball settlement offer, please don’t hesitate to contact a dedicated attorney from the legal team at Lutz Injury Law, who can help you fight for the maximum recovery you’re entitled to.