How to Respond to a Insurance Settlement Offer

Your coverage is the ultimate factor in determining how much you recover through your insurance claim. For example, if your property was damaged during a hurricane, you’ll only be able to collect coverage under hurricane-related coverage that you would have opted for beforehand. If you’re unsure of what coverage you have, you should check well before you need it to ensure you’re ready to advocate for rightful value.

Here are a few of the more common damages, with each depending on the type of claim you’re filing:

• Repair costs
• Medical expenses, both past and future
• Vehicle replacement
• Lost wages
• Pain and suffering
• Loss of earning capacity
• Other economic damages
• Other ways you were harmed

It’s relatively easy to find the monetary value of some of the damages you sustained, but for others, the process is much more complicated. For example, your medical expenses are determined through your receipts from your treatment. Your pain and suffering damages, on the other hand, are blurrier, as the only person who will truly understand your condition is yourself.

With Morgan and Morgan’s team by your side, the situation gets much easier. We’ve seen your situation before, and if you’re offered anything less than you deserve, they can counter their offer and stand strong, refusing to accept anything that forces you to pay out-of-pocket. There’s no insurance company we’re scared of, and our firm stance of fighting For the People fuels us to provide the same approach that’s recovered over $20 billion, making us an undeniable ally against any insurance company.

Your specific circumstances will dictate how to respond to a insurance settlement offer. Factors like your coverage, type of claim, injuries, and more will all play a role, but the insurance settlement offer itself is most important to how you’ll respond. You should remember never to accept a settlement at face value as well, as you’ll need time to read over the contract and determine whether or not it’s accurate.

Here are a few things that you and your attorney will do before you respond:

Review Your Contract

First, you’ll evaluate your coverage and determine your coverage. You’ll then compare your coverage to the settlement offer. If they don’t match up, it’s a red flag, and you can start to prepare your response accordingly.

Evaluate and Compare Your Settlement Offer

You should carefully examine the settlement offer to see the breakdown of all your damages. Take careful note of how each damage is calculated and how each is reflected in your total offer. There could be mathematical errors that are mistakenly included, and by double-checking the numbers, you can prevent losing out on the money you’re entitled to.

Another recommended step is to see how your insurance settlement offer compares to similar situations. You can search for situations that were similar to yours, compare the damage, and use your findings to make a decision on the offer.

Ask Questions

Don’t be afraid to ask questions about specific damages or legalese that you don’t understand. In some cases, legal teams will use complicated language to confuse people on purpose, which makes them less likely to understand what they’re signing onto. Asking questions could be the difference between thousands of dollars in out-of-pocket costs and the compensation necessary to get your life back on track, so don’t hold back and make sure you fully understand what they’re offering.

Speak With an Attorney

If you’re still unsure of how to respond to a insurance settlement offer, you shouldn’t just guess. By teaming up with an experienced attorney, you gain an ally with knowledge of how to handle your specific situation, which can be priceless in a situation like this. They’ll advise you on how to handle your response and the next steps, all while keeping your best interest in mind throughout the process.

After an accident, the insurance company will typically make a settlement offer promptly to try and resolve the claim as soon as possible. While it might be tempting to accept that first offer, you should remember that an insurance company’s initial offer is almost always lower than you can ultimately receive. If the amount of the settlement is not significantly higher than what it would cost to go to court, you may want to consider accepting the offer, but remember that Morgan and Morgan’s assistance is available for no out-of-pocket costs. They’ll want to settle for as little as possible, so it’s important to always attempt a counteroffer before accepting an insurance settlement offer of any kind.

The cost of trial often stands as a barrier between accident victims and their rightful compensation. Attorneys are expensive in most cases, and the cost of drawn-out legal processes can significantly drain your finances. Even in clear-cut cases where the victim’s damages are all but guaranteed, the retainer fees can deter victims from fighting for what they deserve, which often leads to them accepting lowball settlement offers.

At Morgan and Morgan, we don’t want anything to prevent you from advocating for their full value, so we’ve created a system that allows you to afford proficient representation for no upfront costs. We take our fee from the favorable settlement or jury award not only to keep the costs low on your end but also to keep everyone involved centralized around one singular goal—reaching the best possible outcome at the finish line of your case.

The decision to accept a settlement offer or take the case to trial isn’t easy. It will depend on your specific circumstances, but there’s really only one clear answer. If your settlement doesn’t reflect the true value of what you’re entitled to and they refuse to offer fair restitution, you should take them to court, and you can do so for no out-of-pocket costs with the help of Morgan and Morgan.

A trial is a rare outcome, but it’s possible nonetheless. It essentially changes everything; you’ll have to adjust to your new position and change your strategy quickly. Fortunately, Morgan and Morgan’s team works every case up for the possibility of a trial starting on day one, even if it’s not necessary, to ensure we’re ready to handle the shift and litigate to the best of our ability. There’s no better ally than America’s largest personal injury firm—team up with us and give yourself the best possible chance of reaching a favorable outcome.

In the most difficult moments of your life, Morgan and Morgan has your back. Insurance claims are complicated, but you shouldn’t let the level of difficulty stand between you and the compensation you’re entitled to. When you team up with us, you gain access to our decades of legal knowledge and strategy that’s recovered over $20 billion on behalf of our clients. We can help you determine how to respond to your offer based on what’s best for you and your future, giving you a friend, ally, and trusted legal partner during a stressful period of your life.

We’re here to help. Complete our free, no-obligation case evaluation to get started.

If you’ve been hurt due to someone else’s negligence, you deserve to be compensated in full. Unfortunately, the insurance company will likely pitch you a lowball offer. The good news is that our California attorneys:

• Intimately understand California personal injury laws
• Are seasoned negotiators with a track record of success
• Fight for the full amount of compensation, and not just what the insurance company wants to pay you

How do Morgan & Morgan’s personal injury lawyers get you the compensation you deserve? Every case is different, but we generally follow a certain set of steps:

• Fully evaluate your case, considering damages such as medical bills, lost wages, and pain and suffering
• Draft and file a complaint against the defendant
• Negotiate with the defendant’s insurance company
• Take the case to trial if the insurance company won’t offer a fair settlement

You’re going through a lot as it is, so you shouldn’t have to consider cost when hiring a personal injury lawyer. At Morgan & Morgan, we don’t get paid until we win your case. You never make any upfront or out-of-pocket payments, so there’s no risk to you.

Morgan & Morgan’s California attorneys specialize in personal injuries such as motorcycle crashes, slips and falls, and automobile accidents. We’re available around-the-clock, and we don’t get paid until we successfully resolve your case. 

Get started today with a free, no-obligation case evaluation.