Should I Work with My Insurance for a Settlement?
Contact An Attorney To Help You Deal With The Insurance Company And Secure A Fair And Full Settlement On Your Behalf.
If you have sustained injuries in an accident, you might be thinking about filing an insurance claim. However, you may not be sure whether it makes sense to work with your insurance company for a settlement.
Today, we will discuss everything you need to know about dealing with insurance companies when seeking compensation after an accident in Florida.
Should I Accept the Insurer’s Initial Settlement Offer?
Once you file an insurance claim, the insurance adjuster assigned to your case will contact you to ask questions about the accident. After learning more about your injury, the insurer may make a first settlement offer.
However, you should not accept your insurance company’s initial settlement offer. Here is what you need to understand: Initial settlement offers rarely reflect a fair or reasonable settlement amount.
Thus, it may not be a good idea to accept the insurer’s initial settlement offer because you need to receive a reasonable amount of money that covers all of your past, current, and future expenses and losses.
It is advisable to contact a Boca Raton personal injury attorney to determine how much your insurance claim is worth. Your attorney will consider all factors to estimate the value of your claim, including but not limited to:
- Medical expenses
- Loss of income
- Property damage (e.g., vehicle repairs)
- Out-of-pocket expenses
- Pain and suffering
- Loss of enjoyment of life
What is Covered by My Insurance Plan?
Florida is a no-fault insurance state, which means everyone who wants to seek compensation should file a claim with their own insurance company. Under Fla. Stat. § 627.736, all persons operating registered motor vehicles in the State of Florida must purchase $10,000 worth of Personal Injury Protection (PIP) coverage.
Thus, if you have PIP coverage, it will cover the following damages:
- Up to 80% of your medical bills, but not exceeding $10,000;
- 60% of your lost wages, up to a limit of $10,000; and
- Up to $5,000 in funeral and burial expenses if the policyholder died from the injuries.
Your Insurance Company May Undervalue or Deny Your Claim
Working with an insurance company without an experienced attorney on your side is a risky endeavor. Insurance companies are for-profit businesses that have one goal in mind — to protect their own bottom line.
For this reason, insurance companies use a multitude of tactics to undervalue and deny claims. When trying to negotiate a settlement with your insurance company, do not be surprised if the insurer offers to pay you as little as possible or rejects your claim altogether.
It is critical to seek legal counsel from a knowledgeable attorney to help you determine how much your personal injury claim is worth and negotiate with the insurer on your behalf to represent your best interests.
Talk to a Boca Raton Personal Injury Attorney
You need a skilled personal injury attorney on your side to help you secure fair and full compensation. At Ged Lawyers, LLP, our knowledgeable attorneys are committed to helping our clients seek the highest amount of compensation for their injuries.
Schedule a consultation with our Boca Raton personal injury lawyers by calling 561-995-1966.
