When you are the victim of an accident, ensuring you recover the funds you deserve is critical. However, when working with an insurance agency, the offer they may give you after you file your claim is significantly lower than you expected. As such, understanding why this happens and what you can do to get the compensation you are entitled to with the help of a Wesley Chapel, FL personal injury lawyer is critical. The following blog explores why you may receive a lowball settlement and what you can do in further detail.
Why Do Insurance Companies Offer Lowball Settlement Claims?
When you file a claim for compensation with an insurance company filing an accident, it’s necessary to understand that the insurance company will significantly undervalue your claim, offering a much lower amount than you deserve. This is because they assume victims are desperate for any form of financial relief, so they are willing to accept the first offer extended to them. Additionally, insurance companies take advantage of the fact that many people are unfamiliar with what factors can impact how much money they receive. As such, they will offer less than the claim is worth to save money while impacting the future of the victim.
What Factors Can Influence My Claim?
Understanding how insurance companies value claims is critical to ensuring you have an idea of whether or not your insurance claim is fair.
Generally, the first form of damages you can recover in a collision are calculable, monetary amounts. These are known as economic damages. These represent medical bills or property damage, which have an actual amount attached to the damage.
However, you can also get an idea of non-economic damages. These represent subjective losses like pain and suffering, humiliation and a loss of enjoyment of life. Generally, these values are harder to calculate because there is no monetary amount directly associated with them. However, the more traumatic your accident is, the more funds you can expect to receive.
How Can a Lawyer Help Me With These Matters?
Unfortunately, trying to calculate the value of a personal injury claim and negotiating with the insurance company can be overwhelming. When you add trying to heal from your injuries, this process can become too much for many to handle. As a result, you may settle for a low amount, figuring it is better than nothing. However, working with an experienced attorney can help you recover the funds you are entitled to for the damages you’ve sustained.
When you’re hurt, the Law Offices of Matthew J. Jowanna is ready to assist you. We understand how complex these matters can be, which is why we will handle the legal issues of your case so you can focus on healing. Our team isn’t afraid to stand up to insurance companies to fight for the funds you deserve. Connect with us today to learn how we can help you.
