Should I Accept the Insurance Company’s First Settlement Offer?

Should You Accept the Insurance Company’s First Settlement Offer? No, and Here’s Why!

If you’ve been injured in a car accident in Utah, the first settlement offer from the insurance company might seem like a quick fix. However, with over 20 years of experience as a Utah car accident lawyer, I’ve rarely seen an initial offer that’s fair or adequate. In most cases, accepting the first offer can result in far less compensation than you deserve.

Why You Shouldn’t Settle for the First Offer

Insurance companies prioritize protecting their bottom line, not your best interests. The initial offer is often much lower than the actual value of your case. Insurance adjusters hope you’ll settle quickly, without realizing how much more your claim might be worth.

Pre-Litigation Offers vs. Post-Litigation Settlement Offer

There’s a significant difference between pre-litigation settlement offers and what you can achieve after filing a lawsuit. Before litigation, insurance companies have little to lose, as there’s no immediate legal risk tied to paying out a low offer.

However, once a lawsuit is filed, insurance companies face the risk of losing more in court, which often leads to higher settlements.

Should You Accept the Insurance Company’s First Settlement Offer? No, and Here’s Why!

Real-Life Examples: The Impact of Filing a Lawsuit

  • Case 1: A client involved in a rear-end collision received a $100,000 payout from one insurance company. However, another insurance company only offered $6,000 for a side-swipe claim. Without litigation, we could have only secured a small increase. By filing a lawsuit, we increased the settlement to $110,000 more than the original offer.
  • Case 2: Another client was offered $21,000 on a $25,000 policy. We knew we had to exhaust the underinsured motorist (UIM) policy first. After filing a lawsuit, the insurance company paid the full $25,000 policy limit.
  • Case 3: An insurance adjuster claimed their final offer was $12,000. By filing a lawsuit and preparing for trial, we ultimately settled for $24,000, doubling the initial offer.

Why You Need an Experienced Utah Car Accident Lawyer

Many personal injury attorneys avoid litigation, leading their clients to receive lower settlements. It’s crucial to work with an experienced Utah car accident lawyer who is ready to take your case to trial if needed. This approach ensures the insurance company takes your claim seriously and provides a fair settlement.

Don’t Settle for Less—Contact an Experienced Lawyer Today

Don’t let the insurance company pay you less than you deserve. Contact me, Jake Gunter, an experienced Utah car accident lawyer, to fight for the compensation you’re entitled to.

Call or Text for a Free Consultation  (801) 373-6345  Jake Gunter – Utah Car Accident Lawyer