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Can you refuse the offer from insurance after an accident?

On Behalf of | Jul 10, 2024 | Motor Vehicle Accidents

After a car accident in Missouri, dealing with insurance companies is an important part of the recovery process. One common question many people have is whether they must accept the first settlement offer from an insurance company. Understanding your options can help you make informed decisions about how to proceed with your claim.

Evaluating the initial offer

Insurance companies often make an initial offer soon after you file a claim. It’s important to remember that this first offer is typically a starting point for negotiations. Insurers expect some back-and-forth before reaching a final agreement. This initial offer may not fully cover all your expenses related to the accident, such as medical bills, car repairs, and lost wages, especially if the full extent of your damages has not yet been clearly established.

Understanding your claim’s worth

Before accepting any offer, it’s crucial to assess the full extent of your damages and losses. This includes estimating repair costs for your vehicle, understanding your medical expenses, and calculating any lost income due to the accident. It’s also wise to consider any future costs that might arise from ongoing medical treatments or prolonged recovery periods. Knowing the total value of your claim ensures you are better equipped to determine whether the initial offer is fair.

Negotiating for a better offer

You have the right to negotiate with the insurance company. If the initial offer doesn’t cover all your expenses or fails to acknowledge the accident’s impact on your life, you can counter the offer. When countering, it’s helpful to provide documentation that supports your claim for higher compensation. Remember that detailed documentation strengthens your position in negotiations.

You do not have to accept the initial settlement offer from an insurance company after a car accident. Being informed and prepared can significantly impact the effectiveness of your negotiations and the final settlement amount you receive.