What options do you have when the insurance company will not offer a reasonable amount of money to settle your claim?

I am sure it is not surprising to any personal injury victim that the at fault insurance company may not offer a reasonable amount to settle their claim. There are certain types of claims that lend themselves to low settlement offers (see a detailed discussion of these claims by clicking here) and there are certain insurance companies that are characterized by unreasonable offers. If you are faced with an unreasonable offer, what options will you have available to you?

First, you can file a lawsuit.  if you file a lawsuit, you all are likely to receive an offer greater than the offer made prior to the lawsuit being filed. However, you also incur litigation costs that will reduce your net recovery and you will receive your recovery later in time. If you have a case that is reasonably worth $15,000 and you receive an offer of $8000 prior to litigation and then received an increased offer of $12,000 during litigation, the question becomes is it worth it. Is the extra $4000 worth the extra time and extra costs incurred?

Secondly, you can accept the offer made prior to litigation. This option allows you to in the claim process quickly.

Thirdly, you can simply wait. This strategy put some amount of pressure on the insurance company because the adjuster is evaluated not just on how little he pays per claim, but he is also evaluated on how quickly he can resolve his claims. Therefore, he may be willing to offer more money to remove the case from his inventory.

It is not easy to determine which of the 3 strategies you should employ in your tickler case. You will need the counsel  of an experienced motor vehicle accident attorney to determine which strategy is best for you. The Kentucky Auto Accident Attorney law firm has been making these decisions for 25 years and can help you with your case. You can obtain a free evaluation of your case by clicking here or by calling 502-241-8000 or 859-367-0036.