Personal injury accidents occur every year. In fact, LVMPD reported that 56% of car accidents alone result in injuries to the drivers, pedestrians, and even the passengers. Due to such high numbers of victims seeking compensation is also high. When you file for a personal injury claim when someone else is at fault, you are entitled to get compensation, but no one, not even your lawyer, can predict the exact number. On the other hand, a North Las Vegas personal injury lawyer can help you understand if the settlement offered is sufficient.
What is a lowball settlement exactly?
The insurance adjusters are trained to do their job best. They are guided to offer as low compensation as possible to the victims. In fact, it might be surprising to know that the insurance company rewards employees just for reducing the compensation and fires people who had a role in paying higher amounts. Due to this, insurance adjusters offer a “lowball settlement,” which means offering compensation amount that is less than what the victim deserves.
Most victims are initially offered lowball settlements. This is bait by the insurance company since they believe it will work out in their favor if you agree to settle. It is not their fault. Out of fear, victims do end up settling for their low offer, which encourages insurance companies to continue doing the same.
What are the chances of getting a lowball settlement offer?
While most of the time, the insurance company will roll out as little compensation as possible, it might not always be the case. Sometimes, the insurance company might offer a fair settlement, especially if you have a legal representative by your side and they know that they cannot trick your lawyer. On the other hand, if you are filing for a claim independently, they might try to settle you with less. This is why victims with a lawyer have a benefit over the ones who are going independently.
How do you figure out if the offer is low or fair?
You cannot decide just by looking at the amount offered. The insurance company will offer a settlement after evaluating the case. Therefore, you should let your lawyer help you out. Your lawyer will tally the injuries and damages you have incurred with the settlement amount offered. Your lawyer will also consider the past, present, and future expenses you had/will have. Based on their evaluation, they will assist you in whether you should accept the settlement or demand more.