In Chico in 2022, the California Office of Traffic Safety estimated that 300 lives were fatally injured or lost due to traffic accidents. In 2023, that number stayed roughly the same. While statistics are limited for 2023 onwards, it is fair to be alarmed regarding traffic safety. A crash does not end simply after the collision; the aftermath is also a dreadful situation to face, especially when it comes to liability and insurance.
If you’re in a car accident in Chico that was not your fault, the other driver’s insurance company may reach out directly to settle the claim. Though this is legal, insurers may lowball your settlement as they act in their client’s best interest. Thus, it is important to know why you should never accept the first settlement offer. Read below to find out.
Potential Lowballing
If you have suffered injury or trauma after an accident, you may feel stressed or overwhelmed. Insurers often rely on the victim’s mental state to hasten a settlement, making it look like an ideal offer at first.
However, it’s in your best interest to take your time and mull over the decision. You are well within your rights to do so, as long as you follow the deadline given in the offer document.
We recommend this because the first settlement offer is usually a bargaining point that starts with the lowest figure. It may not do your situation justice.
Medical Bills and Long-Term Treatment
An initial medical checkup may not reveal all your injuries; more may appear over time. This can drastically change the cost of your medical bills. In some cases, car crashes can cause life-altering conditions that aren’t immediately apparent. This could require lifelong treatment, extended physiotherapy, or other costs that would come out of your own pocket if you hastily accept their first offer.
Lost Income and Emotional Distress
People often forget to account for lost income. After sustaining an injury or experiencing trauma, continuing to work may be difficult. Taking time off from your job results in lost income that should also be reflected in the settlement. Moreover, your emotional distress may also be compensable.
Vehicle damage must be accounted for in a settlement claim according to current market rates.Picture17
Vehicle Damage
Your vehicle may be undervalued. Insurance companies may not reflect your vehicle’s diminished value after repairs or any personal modifications. Their evaluation may also ignore the vehicle’s value according to current market rates and instead only cover the cost of its initial purchase.
New Evidence
Crash investigations by different authorities may uncover new evidence that changes the situation. Allow time for the complete picture to emerge.
If you do not wish to speak to insurers directly or feel you are being pressured into accepting an accident claim settlement, we recommend hiring a car accident attorney in Chico. Marquez Law Offices works in its clients’ best interest with compassion and dedication. Reach out now.
