Insurance companies are businesses first and foremost, which means their primary goal is to protect their bottom line—not to ensure that injury victims receive fair compensation. If you’ve been injured in an accident, you might be shocked at how low the insurance company’s initial settlement offer is. Unfortunately, this practice is all too common, and many claimants unknowingly accept lowball offers out of desperation or lack of legal knowledge. Led by Preston Rezaee, Esq., The Firm is a premier personal injury law practice in Las Vegas, dedicated to delivering justice for accident victims. With a reputation for relentless advocacy and client-focused representation, The Firm ensures injured individuals receive the compensation they deserve, helping them recognize unfair settlement offers and fight for the full compensation they are entitled to.
In this blog, we’ll break down why insurance companies make lowball offers, how to recognize when an offer is unfair, and the steps you can take to protect your rights.
Why Do Insurance Companies Make Lowball Offers?
Insurance adjusters are trained to minimize payouts. Their tactics often include:
- Taking Advantage of Financial Pressure
- Many accident victims face mounting medical bills, lost wages, and other financial hardships. Insurers count on this urgency to push quick, inadequate settlements before victims realize the full extent of their damages.
- Downplaying Injuries
- Insurance companies may argue that your injuries aren’t as severe as you claim, suggesting that you don’t need extensive medical treatment or long-term care.
- Blaming You for the Accident
- They may assert that you were partially or fully responsible for the accident, which would reduce or eliminate your ability to recover damages under Nevada’s comparative negligence laws.
- Delaying Claims
- Some insurers drag out the claims process, hoping you’ll become frustrated and accept a low offer just to move forward.
- Misrepresenting Policy Coverage
- They might tell you that your claim is only worth a certain amount due to policy limits, when in reality, more coverage may be available.
How to Recognize a Lowball Offer
Not every settlement offer is unfair, but here are some signs that you may be getting lowballed:
- The offer comes very quickly after your claim is filed.
- The amount barely covers medical expenses and doesn’t account for future costs.
- It doesn’t include non-economic damages like pain and suffering.
- The insurer pressures you to accept before seeking legal advice.
- They refuse to provide a breakdown of how they calculated the amount.
Steps to Fight for a Fair Settlement
If you suspect you’re being offered less than you deserve, don’t worry—there are steps you can take to counteract these tactics.
- Consult a Personal Injury Attorney
The most effective way to ensure you receive fair compensation is to work with a skilled personal injury lawyer. Attorneys understand how to negotiate with insurers and can provide you with a realistic valuation of your claim.
- Gather Strong Evidence
Documentation is key to proving your claim’s worth. Ensure you collect:
- Medical records and bills
- Doctor’s notes regarding future treatment
- Pay stubs and employment records showing lost wages
- Photos of injuries and the accident scene
- Witness statements
- Any correspondence with the insurance company
- Calculate the True Value of Your Claim
A fair settlement should include:
- Economic damages: Medical expenses, lost wages, rehabilitation costs, and property damage.
- Non-economic damages: Pain and suffering, emotional distress, and reduced quality of life.
- Future damages: Ongoing medical treatment, loss of earning capacity, and long-term disability.
- Reject the Initial Offer and Make a Counteroffer
If the first offer is too low, don’t hesitate to decline it. Work with your attorney to craft a counteroffer backed by evidence. This should detail why their offer is insufficient and provide a well-reasoned figure that better reflects your losses.
- Be Prepared for Negotiations
Negotiating with insurers can be a back-and-forth process. Stay patient and let your attorney handle the discussions. Most personal injury claims settle out of court, but being prepared to litigate if necessary can put pressure on the insurer to increase their offer.
- Avoid Making Statements That Can Be Used Against You
Be cautious when communicating with insurance adjusters. Never admit fault, downplay your injuries, or discuss your case on social media. Anything you say can be used to devalue your claim.
What If the Insurer Still Won’t Offer a Fair Settlement?
If negotiations stall and the insurance company refuses to offer a reasonable settlement, your attorney may recommend filing a lawsuit. While litigation takes longer, it may be the best way to recover the full compensation you deserve.
Lowball insurance offers are frustrating, but you don’t have to accept them. By understanding the tactics insurers use and working with a knowledgeable attorney, you can fight for the compensation you truly deserve. If you’ve been injured in an accident and need guidance, don’t hesitate to reach out for legal help.
When it comes to choosing an attorney, experience matters. You need aggressive, competent, and personalized legal representation and that is what you’ll get with Preston Rezaee, Esq. and The Firm. Retaining the right firm to assist you with your case will affect the outcome and the amount of money you will receive. At The Firm, we strive to distinguish ourselves from commercialized law firms handing hundreds of cases per month. For cases relating to personal injury, we have developed personal relationships with highly qualified medical professionals in Clark County to ensure that our clients not only receive the best legal representation, but also the best medical treatment available. If you’ve been injured in Southern Nevada, give us a call at 702-222-FIRM (3476).
The information provided in this article is for general informational purposes only and is not intended to constitute legal advice. The content is based on the author’s understanding of the subject matter at the time of writing and is not tailored to the specific circumstances of any individual or entity.
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