What Should I Do if I Receive a Lowball Settlement Offer from the Insurance Company?

Receiving a low settlement offer from an insurance company after an accident can be incredibly frustrating and disappointing.  After all the physical, emotional, and financial challenges you have endured due to your accident and injury, it can feel like a slap in the face to be presented with an offer that doesn’t fully compensate for your losses.  It is VERY common to receive a lowball settlement offer if you are not represented by an attorney.

Remember, you have options.  You do not have to accept an unfair offer. If you find yourself in this situation, always seek the help of experienced Florida car accident attorneys who can fight for your rights and ensure you receive the compensation you deserve. 

At Lyons & Snyder, we have a team of dedicated lawyers who are committed to advocating for our clients’ best interests. Contact our firm today to discuss your case and to learn more about how we can help you through this challenging situation.

Understanding Lowball Settlement Offers from Insurance Companies

When dealing with an insurance company, it is necessary to recognize a lowball settlement offer. A lowball settlement offer is an offer that is significantly lower than the actual value of your case. Insurance companies may make these offers as a tactic to try to save money and avoid paying the full compensation you deserve. 

They might: 

• Underestimate your injuries
• Downplay the impact of the accident
• Dispute liability altogether
• Claim your injuries were pre-existing
• Refuse to compensate you for pain and suffering

Remember that insurance companies are for-profit businesses, and their primary goal is to minimize their financial losses.

Reasons for Lowball Settlement Offers

There are many reasons why an insurance company may make a lowball settlement offer. Some common reasons include:

• Quick resolution: Insurance companies may rush to settle claims before the full extent of your injuries is known. By offering a low settlement early on, they hope to avoid paying more in the future.
• Disputed liability: Insurance companies may dispute liability to reduce or deny your claim altogether. They may argue that you were partially or fully at fault for the accident, resulting in a lower offer.
• Lack of evidence: If there is insufficient evidence to support your claim, the insurance company may leverage this to make a low offer.
• Prior injuries: Insurance companies may argue that your injuries were pre-existing or unrelated to the accident, thereby reducing their liability.

Steps to Take if You Receive a Lowball Settlement Offer

Many people panic when they see a low number, but remember that you have options to increase your compensation.

Never accept an offer without legal advice. Have a car accident attorney carefully examine the offer and evaluate whether it covers the full extent of your damages. They will consider factors such as past and future medical expenses, lost wages, and pain and suffering. If the offer falls short, the attorney can determine a fair settlement amount and file a lawsuit if needed.

Strengthen your case

To challenge the lowball offer, it is important to have a car accident attorney gather and present strong evidence. This may include medical records, accident reports, witness testimonies, and expert opinions. An attorney can compile and present this evidence effectively to prove the full extent of liability and your losses.

Engage in negotiations

Your attorney will engage in negotiations with the insurance company to seek a fair settlement on your behalf. They will leverage their experience and knowledge of personal injury law to advocate for your rights. If negotiations do not result in a satisfactory outcome, your attorney may recommend pursuing legal action.

Filing a lawsuit may be necessary to pursue full compensation. A skilled attorney will guide you through this legal process, continuing to negotiate a possible settlement during litigation.

Florida Injury Attorneys Fighting for Your Rights

If you have received a lowball settlement offer from an insurance company in South Florida, seek the help of experienced attorneys. At Lyons & Snyder, our team understands the tactics used by insurance companies and knows how to fight for the compensation you deserve. 

Contact our firm today online or at 954-462-8035 to discuss your case for free and learn more about how we can help you.

Frequently Asked Questions (FAQ) About Lowball Settlement Offers

Q: What is considered a lowball settlement offer from an insurance company?

A: A lowball settlement offer is an offer that is significantly lower than the actual value of your case. Insurance companies may make these offers to save money and avoid paying the full compensation you deserve for your injuries and losses following an accident.

Q: What should I do if I receive a lowball settlement offer after an accident?

A: If you receive a lowball settlement offer, do not accept it immediately. Review the offer with a car accident attorney to calculate the full extent of your damages. Gather evidence to strengthen your case and have your attorney engage in negotiations with the insurance company.

Q: Why do insurance companies offer lowball settlements?

A: Insurance companies may offer lowball settlements for various reasons, including seeking a quick resolution to avoid paying more later, disputing liability, claiming a lack of evidence, or arguing that your injuries were pre-existing or unrelated to the accident.