I disagree with my insurance settlement offer. What options do I have?

Disagreeing with an insurance settlement offer and frustration with a claim that has been delayed is not uncommon. However, it’s important for an injured person to fully understand his or her rights when pursuing a car accident injury claim, which means learning about the types of options that might be available when an offer isn’t fair. A Colorado auto accident lawyer can help guide this legal process.

Negotiating with the Insurance Company

One option is to negotiate. In fact, this is often necessary when a car accident injury claim is filed. In many cases the insurance company will initially offer much less than what is deserved and victims will disagree with the insurance settlement offer.

It helps to have a range in mind as far as the lowest amount that will be accepted. Despite the fact that the initial offer might sound good, it more than likely isn’t a fair and full amount.

Before an injured person can negotiate, he or she should know the value of the claim. This takes into consideration financial losses, such as medical costs and time missed from work. But it should also include future expenses if additional treatment will be required at some point.

Just as important as the financial burden, is considering the physical and emotional losses. This could include compensation for pain and suffering, disability, mental anguish and more.

Accident victims who disagree with an insurance settlement offer should send a written letter to the insurance company, letting it know that the offer has been rejected. It should also include what is believed to be the value of the claim.

Negotiations can sometimes go on for a period of time. At some point it may be necessary to consider another option or, if it hasn’t been done already, consult a Colorado auto accident lawyer.

Arbitrating a Car Accident Injury Claim

Another option is arbitration. This is one way to resolve a dispute over a car accident injury claim without going to court.

The arbitrator will take into consideration the viewpoints of both sides and his or her decision will be binding to both sides. A benefit to this is that the injured person can vocally express the damages suffered and the impact injuries have had on his or her life. However, it doesn’t always mean that the arbitrator will reach a settlement that is fair to the injured party.

These arbitrators are generally hired by both parties. Although a Colorado auto accident lawyer is not required during these hearings, it is generally recommended.

Seeking Legal Advice from a Colorado Car Accident Lawyer

Accident victims who disagree with the insurance settlement offer may find themselves unsure of what to do next, how to negotiate with insurance adjusters and/or how to pursue arbitration or litigation – which may also be required in some cases – to reach a fair settlement.

Those who disagree with the offer may consult a Colorado car accident lawyer for assistance with the car accident injury claim. Meanwhile, even before the initial settlement is offered, victims who suffer serious injuries may find legal consultation helpful. There is too much at stake to take the chance of settling for an amount that is not only unfair, but may not cover the financial burden caused by serious injuries.

Car accident victims may find it beneficial to consult attorney D.J. Banovitz in Aurora. Call 303-300-5060 to set up an appointment if injuries are serious, the insurance company is delaying your settlement, or if you disagree with an insurance settlement offer that is unfair.