The insurance company is offering me a settlement for my serious auto accident case. Shouldnt I just take it and be done with it?

A:

If you really want to get the case over and done with, sure you can accept the settlement.  But, before you do, make sure you understand just what is happening here.

Insurance companies put a great deal of effort into convincing auto accident victims that they don’t need an attorney and that they should just accept a quick settlement with no complaints.  Why do you think they do this?  It certainly isn’t out of the goodness of their hearts.

A study by the Insurance Research Council showed that that car crash victims who worked with a lawyer received 3.5 times more for their case than victims who negotiated with the insurance adjuster themselves.  That is a pretty significant difference, and is exactly why the insurance company wants you to settle as quickly as possible – before you get the help of a skilled attorney.

It is really in your best interest to at least talk to a lawyer with experience handling the type of accident in which you were involved.  You can talk about the pros and cons of hiring a lawyer, and maybe even get an idea of what your case might be worth – although this can be difficult to determine up front.

Then, after you’ve done your homework, you’ll know whether or not just accepting a low settlement offer from the insurance company is the right move for you.