After a car accident or other personal injury accident, one of the first calls you might receive is from the at-fault party’s insurance company offering you a settlement. On the surface, the offer may seem reasonable, even generous. You might be tempted to accept it quickly to put the ordeal behind you and cover immediate expenses. However, accepting a settlement without consulting a Denver personal injury attorney can have long-lasting consequences that you may regret.
At Denver Personal Injury Lawyers®, we’ve seen too many cases where accident victims accepted initial settlement offers only to realize later that they were left with uncovered expenses, ongoing medical bills, or lost wages that weren’t accounted for in the payout. Simply put- they got ripped off because they didn’t call a lawyer first. Here’s what you need to know before making any decisions about a settlement.
What Is a Settlement Offer?
A settlement offer is an agreement proposed by the at-fault party’s insurance company to resolve your claim without going to court. In exchange for a payout, you agree to waive your right to pursue further legal action regarding the incident.
While this might sound like a fair solution, the primary goal of the insurance company is to minimize its financial liability. Often, this means the initial offer doesn’t reflect the true value of your claim, especially when future damages or long-term effects of your injuries are considered.
The Risks of Accepting a Settlement Offer Too Soon
Settling a personal injury claim is a significant decision that should never be made lightly. Here are the risks of accepting a settlement without speaking to a Denver personal injury attorney:
1. Underestimating Future Medical Costs
Injuries often require ongoing treatment, including physical therapy, follow-up appointments, medications, or even surgeries. Initial settlement offers rarely account for these future expenses, leaving victims to cover them out of pocket.
2. Failing to Account for Non-Economic Damages
Pain and suffering, emotional distress, and reduced quality of life are all compensable damages in personal injury cases. Insurance companies tend to undervalue these non-economic damages, focusing only on immediate, tangible costs.
3. Permanent Waiver of Rights
When you accept a settlement, you sign a release of liability. This means you give up the right to pursue additional compensation, even if new injuries or damages come to light later.
4. Pressure from Insurance Adjusters
Insurance companies often pressure victims to settle quickly. They may frame the offer as the best you’ll get or suggest that waiting will result in a prolonged and costly legal battle. This tactic is designed to push you into accepting an undervalued offer.
5. Overlooking Long-Term Financial Impact
If your injury affects your ability to work, you may face lost wages or even a diminished earning capacity. Initial settlement offers rarely consider these long-term financial impacts.
Why Insurance Companies Offer Low Settlements
Insurance companies are businesses, and their primary goal is to protect their bottom line. Offering a quick, low settlement is one way they minimize payouts. Here’s how they approach the process:
- Assessing Immediate Costs Only: Initial offers often focus on current medical bills and property damage while ignoring future costs or non-economic damages.
- Exploiting Victims’ Vulnerability: Insurance companies know that after an accident, you’re likely stressed, overwhelmed, and eager to resolve the situation. They use this to their advantage.
- Relying on a Lack of Legal Knowledge: Without a Denver personal injury attorney, you may not understand the full value of your claim or know how to push back against lowball offers.
What Should You Do If You Receive a Settlement Offer?
Receiving a settlement offer doesn’t mean you have to accept it right away. Instead, take the following steps to ensure your rights are protected:
- Stay Calm: Don’t let pressure tactics rush your decision. Take the time to fully evaluate the offer.
- Document Everything: Keep detailed records of your medical treatments, lost wages, and any other expenses related to the accident.
- Avoid Signing Anything: Never sign a release of liability or any other documents without consulting an attorney.
- Contact a Denver Personal Injury Attorney: An experienced lawyer can assess your case, calculate the true value of your damages, and negotiate with the insurance company on your behalf.
How an Attorney Can Help You Maximize Your Compensation
Hiring a Denver personal injury attorney ensures that your settlement reflects the full extent of your damages. Here’s how we assist clients:
- Thorough Case Evaluation: We analyze all aspects of your case, including medical records, accident reports, and witness statements, to calculate the true value of your claim.
- Negotiation with Insurers: Our attorneys are skilled negotiators who understand the tactics insurance companies use. We fight for fair compensation that includes current and future damages.
- Legal Expertise: From filing paperwork to understanding legal deadlines, we handle all the complexities of your case so you can focus on recovery.
- Litigation, If Necessary: While many personal injury claims settle out of court, we’re prepared to take your case to trial if the insurance company refuses to offer a fair settlement.
- Time Management: A Denver personal injury attorney ensures your case moves efficiently, meeting the statute of limitations and other deadlines while preserving evidence. This allows you to focus on recovery while we handle the legal process.
Why Expert Guidance from an Attorney Matters
At Denver Personal Injury Lawyers®, we’ve seen firsthand how devastating the consequences of accepting an undervalued settlement can be. Without legal guidance, you risk being left with unpaid medical bills, lost wages, or ongoing pain and suffering that weren’t accounted for in your payout.
An experienced Denver personal injury attorney understands how to evaluate the full scope of your damages, including those that aren’t immediately apparent. We work with medical experts, economists, and other professionals to ensure every aspect of your claim is accurately valued.
Insurance companies often rely on complex language and high-pressure tactics to confuse or intimidate victims into settling. With a trusted attorney on your side, you can confidently navigate the claims process, knowing your rights are protected. We handle negotiations, gather evidence, and, if necessary, take your case to court—all with the goal of securing the compensation you deserve.
Contact Denver Personal Injury Lawyers® for a Free Consultation
If you’ve received a settlement offer after an accident, don’t sign anything before speaking with a trusted Denver personal injury attorney. At Denver Personal Injury Lawyers®, we have extensive experience advocating for accident victims and helping them secure fair compensation for their injuries.
Our firm is known for its commitment to excellence, client-focused approach, and proven track record of success. During your free consultation, we’ll review the details of your case, answer your questions, and provide clear guidance on your next steps. Remember, you don’t pay us unless we win your case.
Don’t let an insurance company take advantage of you. Contact Denver Personal Injury Lawyers® for a free consultation today, and let us fight for the compensation you deserve. Your recovery starts here.
