How can you know if your car accident settlement is fair?

Insurance companies have a reputation for offering unfair settlements to those affected by motor vehicle accidents. Sometimes, this reputation is unwarranted, but other times insurers do offer unjust amounts.

When a victim suffers severe injuries, getting fair compensation is critical to secure their future. Unfortunately, the primary objective for most insurance companies is holding on to the money you and others pay for accident protection. Your offer might be unjust if you catch the insurance company:

Making an immediate offer

It takes a while to investigate an auto accident thoroughly. Insurers may recognize that your claim is valuable and offer a fast settlement to resolve the matter quickly and cheaply. Another reason for an immediate offer is to prevent you from having time to seek legal guidance.

Shifting the blame to you

Insurance companies often try to assert that the injured victim is the one that caused the vehicle accident. Some people feel intimidated by this, so they take the settlement anyway. They may not know they have the right to reject the offer and negotiate with insurers.

Giving you the silent treatment

Why would an insurance company cut off communications after offering you a settlement? They may hope you will assume you have no recourse but to take the offer or risk getting nothing. Usually, this is another intimidation tactic to deter policyholders.

Remember, the insurance company owes you and must honor the terms of your policy. Reviewing New Mexico’s auto accident compensation laws can help you identify a settlement offer that does not account for all your losses.

Another way to protect your rights and preserve your injury compensation is to seek guidance from someone who knows how car accident claims work.