Why Insurance Companies Offer Quick Settlements
Insurance companies don’t aim for fairness to victims but rather to limit financial liability that cuts into their profits. They make fast settlement offers in the hopes that claimants don’t know their true losses or how strong their case could be after thorough evidence collection.
They Want To Close the Claim Quickly
Insurers want to avoid lengthy investigations and keep costs low. One of the ways they protect profits is through early payouts that reduce their overall liability and prevent further claims. Due to insurance adjuster tactics, victims may feel rushed or pressured into signing quickly.
The Offer May Be Far Below What You Deserve
You deserve compensation for all of your harm after an accident. Initial settlement offers often don’t include damages such as pain and suffering, future medical expenses, or lost earning potential. It’s hard to know your full damages without the advice of a trial-tested attorney who understands the lowball tactics insurers use to protect the bottom line.
You Might Not Know the Full Extent of Your Injuries
Some harm from an accident, such as brain injuries, internal damage, or chronic pain, can develop or worsen over time. If you settle too soon, you’ll be responsible for the medical costs associated with these treatments.
Allow time for a more accurate evaluation of your treatment needs and the long-term effects of your injuries before accepting a settlement.
When Should You Consider Accepting a Settlement Offer?
Insurers don’t want the risks associated with going to trial and sometimes make acceptable offers. In certain circumstances, you can have enough information to determine that a settlement offer is fair:
- You’ve reached maximum medical improvement (MMI): MMI means your condition won’t get any better, and you know your future medical needs. This makes it easier to calculate damages that include ongoing care more precisely.
- The offer covers all past and future costs: Review all of your accident-related expenses, including emergency room visits, surgeries, physical therapy, prescriptions, and follow-up care. Factor in lost wages and projected lost future earning capacity. Once you accurately estimate and total all damages, you can judge if an offer is fair.
- A lawyer has reviewed and approved the offer: An experienced personal injury lawyer can protect you from an adjuster trying to take advantage of you and identify a fair deal. They may negotiate a better offer based on your actual case value.
Risks of Accepting a Low Settlement Offer
When you’re under financial pressure after an injury, it’s tempting to accept a quick settlement, even if it’s low. But accident victims often regret that decision because there can be serious consequences:
- You can’t reopen the case later: When you settle, your agreement usually includes a release of liability clause. You’re legally bound by the single payout and can’t pursue additional compensation, even if your injuries worsen.
- Your future medical bills might go unpaid: Chronic injuries could require years of treatment. Without full damages, you may have to cover MRIs, physical therapy, surgeries, and other costs yourself.
- You may be missing out on full compensation: Insurers often don’t include non-economic damages such as pain and suffering, emotional distress, and lost enjoyment of life in early offers. Settling too soon frequently means walking away from rightful compensation.
How an Arizona Personal Injury Lawyer Can Help
You don’t have to handle the insurance and legal processes alone. Get legal advice on insurance settlement offers based on professional case evaluation and let a skilled lawyer deal with the insurance company. Our founder, Derick Runion, has a unique advantage due to his previous insurance industry experience.
Evaluating the True Value of Your Case
An accomplished injury attorney considers all types of financial, physical, and emotional damages and understands how to calculate future needs based on current injuries. They can gather evidence to prove the other party’s negligence and hold them liable for damages, and push back against insurer tactics to deny or minimize your claim.
Handling All Negotiations With Insurers
An experienced lawyer knows how insurers investigate, how they approach claims, and what actions they take to protect the bottom line. Your attorney can manage the back-and-forth of the settlement process, meet all deadlines, and complete necessary paperwork.
Assuming these responsibilities when negotiating with insurance companies takes the pressure off you and levels the playing field. Our team has a track record of success and offers insurance company insights to give our clients leverage.
Why Choose Runion Personal Injury Lawyers
People trust our respected attorneys to handle all types of personal injury cases. This breadth of experience means we spend a significant amount of time protecting our clients’ interests in negotiations with insurance companies that don’t want to pay. We do everything in our power to give people the peace of mind and sense of justice that a fair settlement or verdict brings.
We offer every client a Net Recovery Guarantee. Our firm covers the upfront costs of your case, and you’ll never pay us more than your compensation from the case.
Proven Track Record of Results in Arizona
Our firm has a 99 percent success rate and has recovered over $50 million in compensation for people hurt by others’ actions. We’re based in Phoenix but serve all of Arizona, fighting for everyday people who can’t afford the costs of an accident. Our attorneys have decades of combined experience fighting insurers.
Some of our notable case results include:
$2,135,000
- Truck Accident
Our client suffered a life-changing injury when a stand-up loader fell on him due to inadequate truck securing by the driver. Despite the insurance company’s refusal to offer a settlement before litigation, we were able to successfully prove disputed liability and secure a result of $2.135 million for our client.
$700,000
- Workplace Injury
Our client was working on a roof at a commercial property when the handle on the roof hatch failed, causing him to fall 18 feet and sustain serious injuries. Despite the insurance company disputing liability and damages, our law firm filed a lawsuit and fought to recover $700,000 for him.
Former Insurance Insider Fighting for You
Derick Runion’s prior insurance industry experience allows him to outmaneuver insurers. He knows their playbook and when and how to push for more, which can lead to stronger results for clients. Our team is well-versed in bad faith insurance practices, such as not offering a fair settlement when liability is reasonably clear.
Real Client-Focused Support Every Step of the Way
We stay in constant communication with our clients, updating them on their cases and answering all of their questions. We offer legal services in English and Spanish to overcome language barriers for those who deserve compensation.
We know the insurance settlement process can feel frustrating and complicated. That’s why we handle everything for you so you can focus on healing. You’re never just a number on a case file to us.
Hear From Our Past Clients
We recognize when people are hurting and want to help them get better, and we’re honored by client testimonials praising our commitment to that cause.
Hands down, these guys are the best! I was in a car accident, I got rear-ended. The staff and attorneys at Runion Personal Injury Lawyers took great care of me. They handled EVERYTHING from medical bills to fighting with the other guys insurance company who tried to claim their client wasn’t at fault. Aside from taking care of the medical bills, the settlement they got me was very good. I have been recommending Runion to everyone because I think they are the best accident attorneys around.
Dan C.
I’m incredibly grateful for Derick’s help with my daughter Emilia’s settlement after the car accident in her Nissan Versa. After her insurance company denied her claims for chiropractic care and physical therapy following her broken femur, Derick’s persistence and expertise were key in securing the compensation she deserved. I truly appreciate his dedication and excellent service throughout the process.
Lisa M.
Free Consultation: Know Your Rights Before You Sign Anything
The time after an accident is stressful, so pause before making decisions that affect your financial security. Get legal advice before signing anything so you don’t risk losing compensation and giving up your rights.
At Runion Personal Injury Lawyers, we offer free, confidential consultations and no upfront costs if we partner on your case. Seek the compensation you deserve with no risk to you.
We understand if you’re wondering whether hiring an attorney is worth it. We’ll explain your options clearly, with no risk and no pressure. Reach out to our award-winning legal team by calling 602-825-3502 or completing our contact form.
FAQs: Arizona Insurance Settlements After an Accident
It isn’t unusual to have questions about the personal injury claim process or what to do next, and our knowledgeable attorneys are always ready to answer.
Can I Negotiate a Settlement Offer From the Insurance Company?
You can negotiate with insurers yourself, but you risk missing potential compensation. Experienced attorneys know how to calculate your losses, fight claims that you were liable, and negotiate for all of your current and future damages.
What Happens if I Reject a Settlement Offer?
If you reject an initial settlement offer, there may be several additional rounds of negotiations. If there’s still no settlement, your case goes to trial, but it could still settle before a verdict.
How Long Do I Have To Accept a Settlement Offer in Arizona?
There’s no legally set deadline for accepting a settlement, but the insurance company may include one in your offer. Keep in mind that under the Arizona personal injury statute of limitations, you generally only have two years to file a personal injury lawsuit. Time spent negotiating with insurance companies counts toward that deadline.
Will Hiring a Lawyer Really Get Me a Higher Settlement?
A skilled attorney knows the laws applicable to your claim and may identify additional liable parties and crucial evidence. They understand damage calculations and how to negotiate with insurers. These actions that an attorney takes on your behalf may lead to higher compensation.
What's the Average Settlement for a Car Accident in Arizona?
How much compensation you receive after a car accident depends on factors such as the extent of your injuries, your long-term care needs, and available insurance coverage. Our team can give you a better idea of your potential compensation after your free case evaluation.
