Responding to Lowball Settlement Offers in South Carolina: What You Should Know?

insurance adjuster

If you’ve been injured in an accident due to someone else’s negligence, you may have decided to exercise your right to pursue a personal injury claim to seek monetary compensation for the damages you’ve endured. Depending on the severity of your injuries, the medical bills can quickly pile up, causing a lot of stress. In addition, you may have to take time off work to recover, which can also result in lost income. It’s common for victims to feel relieved when the negligent party’s insurance company offers an early settlement. However, it’s essential to understand that the initial offer is often far less than you deserve. Insurance companies usually take advantage of your vulnerable position to offer you a lowball settlement before you’ve had a chance to fully understand your legal rights and the extent of your injuries. Therefore, before you hastily accept a settlement offer, it’s in your best interest to contact a trusted Chesterfield County Personal Injury Lawyer who can help you fight for the just compensation you deserve and need. 

What Does it Mean When the Insurance Company is Lowballing Me?

Depending on the severity of your injuries, your insurance coverage may only cover a fraction of your associated costs. When this is the case, you can take legal action against the at-fault party for the remaining funds. While it’s unlikely you’ll agree on the value of your claim, there are instances when the insurance company’s offer is so minimal that it’s considered a lowball settlement. Lowball settlements occur when the insurer offers significantly less than you’re entitled to for your economic and non-economic damages.

What Should I Do if the Insurance Company Offers a Lowball Settlement in South Carolina?

It’s crucial to understand that insurance companies are just like any other business. When determining an insurance settlement, they will try to minimize their payout as much as possible. They will intentionally undervalue your claim to save money when negotiating your claim. They are counting on the fact that you are unaware of the scope of your injuries and the actual value of your claim. When an insurance adjuster approaches you, don’t let them take advantage of your vulnerable position.

If you have not done so already, it’s in your best interest to consult an experienced attorney who can help ensure you’re being treated fairly and negotiate with claims adjusters for a just settlement. With years of experience, an adept Chesterfield County personal injury lawyer will conduct a thorough investigation and assist in gathering the evidence you need to prove your claim. It’s important to understand that you are not required to accept any settlement offer from the insurance company. After determining the value of your damages, if their offer is too low, your legal counsel will reject it on your behalf in writing.

If you believe you’ve been offered a lowball settlement, please don’t hesitate to contact an adept lawyer from the Cockrell Law Firm, P.C., who can help you fight for maximum recovery.