Why Shouldn’t I Just Accept the Initial Insurance Offer?

Car accidents often cause damage that lasts far beyond the moment of impact. Such a traumatic experience can cause stress and injury not only at the scene but in the future as well. Physical pain and mental health challenges are often an ongoing result of a car wreck, so when you’re not at fault, who should be held responsible for the cost of your wellness? While the immediate desire may be to move on as quickly as possible from the incident, avoiding the headache of insurance claims could cost you what you may be rightfully owed. The personal injury lawyers at the Hammack Law Firm are here to help obtain the payout you deserve.

Consider the Cost

When dealing with the insurance side of a car accident, it’s important to consider the cost. Do you know what it would cost you to put off creating a claim after an accident? While you most likely have a lot on your mind, including the cost of repairs, medical needs, and mental distress, taking action as soon as possible could mean securing your rightful compensation down the line.

The costs of repairs, both physical and mental, can add up quickly. When you’re not at fault for a car or truck accident, you shouldn’t be held responsible to cover all of the costs on your own. What the insurance companies often don’t tell you is that their offer includes your medical bills, and you will be responsible for satisfying your medical bills out of the settlement. Most people do not even know where to start in negotiating their bills. And if additional bills come up, you are responsible for those, too. Putting off creating a claim could cost you more down the road, so we recommend taking action as soon as possible. It’s extremely important to create a claim right away so you can get back to the things in your life that really matter. The Hammack Law Firm wants to help you get the compensation you deserve from the insurance company to get you back on your feet.

Consider Your Emotional Expenses

In theory, the world of insurance was designed to protect consumers from the “what ifs” in life. Keep in mind, the world of insurance is really a world of business. The truth is, insurance companies want to pay out as little as possible for a claim, so be aware of the first offer. The first offer for a claim is more than likely a downplay on the events you’ve experienced and the consequences of the accident. If they offer you one thousand dollars, well that’s one thousand dollars more than you had before! But be cautious. Carefully consider your actual expenses from the wreck. While the first offer may seem like a lot, most likely it’s not nearly enough to cover your costs. Especially costs that could come down the line that you haven’t even thought about yet!

Consider Your Rights

In addition to negotiating a better offer from the insurance company, it’s essential to know your rights. Many insurance companies will only cover the costs of economic damages, which are costs that can be measured, such as hospital bills, auto repair costs, cost of medication, etc. Meanwhile, non-economic damages are not as cut and dry. These are things like emotional distress, mental trauma, and your overall well-being post-accident. Suffering from PTSD after a car accident is a very real consequence and the Hammack Law Firm can help fight for this type of damage to be paid for by the insurance company.

Consider the Future

Not all injuries are created equal. Imagine down the road an injury from the car accident flares back up. Back injuries, emotional trauma, neck pain, and even brain injuries have been known to appear or reappear years later after a traumatic physical event like a truck or car wreck. It’s important to know you’re taken care of ahead of time, especially since in South Carolina under most circumstances the statute of limitations for filing a lawsuit in the case of a car accident is three years.

If you have a delayed injury years after the wreck, you’ll be glad you acted fast to receive fair compensation for your losses. Don’t miss out on your payout because you waited. It’s important that you’re covered now so you know you are taken care of in the future.

Track Your Expenses

Keeping up with paperwork can be demanding and even exhausting, but it is critical to keep track of all expenses resulting from a car or truck accident. Do you have medical bills from your injury? What about expenses from the car repairs? Consider things like your medications from the aftermath, therapy for your trauma, loss of wage from missing work, etc. The list goes on. While tedious, keeping up with the costs is vital to receive the reimbursement you deserve. The more costs we can track, the better the payout will be.

Pro Tip: Check for an Umbrella Policy

When the insurance company makes an offer, make sure to look into additional policies. Umbrella policies are extra coverage outside of a typical policy. Umbrella policies are often available to help cover the liabilities of subjective damages, including emotional distress. However, insurance companies may not offer coverage like this upfront. This is another reason not to take the first offer and to hire an experienced lawyer to fight for you.

It’s important to dive deeper and check with the insurance company what umbrella policies are available to you in your specific case. At the Hammack Law Firm, we specialize in reading the fine print. We are experienced and we can help find any additional hidden coverage through the insurance company. Talk about a bonus!

Final Thoughts

The aftermath of a car accident is undeniably stressful. We all know someone who has been injured in an accident, so we all know how stressful it can be. While it isn’t easy, taking action to create a claim right away is the best decision you could make after a traumatic event like a wreck. Make the claim, track your expenses, and be patient for the best offer. But don’t worry, we’ve got your back all along the way to fair compensation. Don’t let the insurance companies take advantage of you, and trust the Hammack Law Firm in Greenville, SC to get you what you truly deserve.