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Hartford Personal Injury: Four Reasons You Need to Beware of a Quick Settlement Offer from the Insurance Company

Hurt in an accident in Hartford? You may be entitled to recover financial compensation from the at-party or their insurance carrier. Through a personal injury claim, financial compensation may be obtained for property loss, medical bill, lost wages, pain and suffering, and other damages. Although a trial is possible in a personal injury case, it is more likely that a claim will reach a settlement. 

Following a serious accident, you may receive a quick settlement offer from the insurance company. Injured victims should beware: The initial settlement from the insurer is often not favorable. Here, our Hartford personal injury attorney highlights four key reasons why injured victims should be skeptical of a quick settlement offer from an insurance company. 

  1. Some Insurers Lead With Lowball Settlement Offers as a Strategy 

As a starting point, it is important to remember that the insurance company is not on your side. Ultimately, the primary goal of the insurance company is to resolve the claim for the lowest dollar that they can get away with. When legal liability is clear, insurers shift to trying to limit the value of a settlement offer. 

Many insurance companies use a strategy of presenting an initial lowball offer―in doing so, they are counting on the fact that you might be desperate for immediate financial relief to settle the case right away, especially in the aftermath of an accident. They bank on your potential lack of familiarity with the claims process and the true value of your claim. Do not accept less than you deserve. 

  1. You Should Not Settle a Claim Until You Have Reached Maximum Medical Improvement (MMI)

As defined simply by the United States Department of Labor (DOL), maximum medical improvement (MMI) happens when a person’s condition has “stabilized and is unlikely to improve with or without additional medical treatment.” In other words, a person reaches MMI when they are stable and their future medical needs are known. You should not settle a personal injury claim unless you have reached maximum medical improvement. Why? Only then can the full extent of your injuries, the total cost of your medical treatment, and any necessary future care be accurately estimated. Settling before reaching maximum medical improvement might result in accepting an offer that doesn’t cover future medical expenses related to the accident.

  1. It is a Mistake to Resolve a Claim Unless You Know the Full Value of Your Damages

Do you know how much your claim is actually worth? Insurance companies often lead with a quick settlement offer because they want to agree to resolve a case before you know its full and fair value. Settling quickly often means not having a complete understanding of your damages’ full value. An experienced Hartford personal injury lawyer can help you determine the full and proper value of your case. Remember, Connecticut allows injured victims to pursue compensation for economic and intangible damages. You may be able to recover for: 

  • Property damage; 
  • Medical bills;
  • Ongoing medical care;
  • Physical therapy;
  • Mental health counseling; 
  • Lost wages; 
  • Loss of earning potential; 
  • Pain and suffering; 
  • Mental distress; 
  • Disfigurement; 
  • Disability; and
  • Wrongful death. 
  1. Insurance Companies Want to Settle a Case Before Victims Get a Lawyer 

Another common reason why insurance companies use a quick settlement offer as a tactic is that they want people to agree to settle their personal injury claim before they have the opportunity to speak to an attorney. Insurance companies are aware that when a lawyer gets involved, the settlement amount almost invariably increases. An experienced Hartford, CT personal injury lawyer has the professional skills and legal expertise  to navigate the complex claims process, negotiate effectively with the insurance company, and fight for the full value of your claim. Insurers will often attempt to settle quickly to avoid the likelihood of a higher payout. While it may be tempting to accept an early offer, remember that legal representation often results in far higher settlement.

Contact Our Hartford Personal Injury Attorney Today

At Tehrani Law Group, LLC, our Hartford personal injury lawyer has the unique legal expertise that you can count on. If you have any specific questions about personal injury settlements, we are here to help. Call our team at (860) 261-6770 or send us a message to set up your free case review. We fight for the rights of injured victims in Hartford and throughout the wider region in Connecticut, including in West Hartford, New Britain, Bristol, Manchester, and East Hartford.