Should I Accept Insurance Settlement Offer Without a Lawyer?

When you are involved in an insurance settlement, one of the first decisions you have to make is if you want to hire a personal injury lawyer or not. When hiring an attorney, there will naturally be fees associated with hiring that attorney. These fees can be significant, so we completely understand that if an offer is on the table already, it can be quite tempting to simply take the check and put it in the bank without having to hire an attorney to drag out the case when you can settle it right now.

So, we are going to look at some of the pros and cons of hiring an attorney and how it could benefit your case.

What Goes into a Personal Injury Case?

If there is already a settlement on the table, rest assured, it is more than likely because the other side knows you have them dead to rights and they want this case over as soon as possible. Even if the settlement is more than you could have possibly imagined, it may only be a small percentage of what you are actually entitled to receive, and we say this realizing that most attorneys will negotiate a rate of about a 60:40 split in your favor.

Have you considered how much money you have already lost, what you will lose in the future in terms of earnings, hospital bills, pain and suffering, loss of quality of life, etc.? All of these factors go into how much money the case is worth and even if there is $100,000 on the table, the figure to which you are entitled could be more like $500,000, meaning you are leaving at least an additional $200,000 on the table by not hiring an attorney to represent you in the case.

Reasons to Hire an Attorney Before Accepting an Insurance Settlement

Before we go any further, realize you should be able to talk to an attorney without having to commit to their services. Furthermore, in most insurance cases, you are not going to have to pay the attorney until the case is settled, so there simply is no reason not to take the time to run the case by an attorney to see if it is worthwhile to settle right now or allow the attorney to represent you.

Reason #1

Reputable attorneys are going to be both objective and professional. If he or she thinks a more significant settlement is possible after hearing the details of the case, he or she will be very upfront about it. The last thing the attorney wants to do is promise you a huge settlement and then fail to deliver. His or her reputation is at stake, so you should be able to count on an honest assessment of the case.

Reason #2

Negotiating is in the blood of an attorney. If there is an offer on the table, based on the attorney’s experience level, he or she will know if the insurance company is trying to pull a fast one on you. Attorneys literally negotiate for a living, so you should be able to trust his or her judgment on whether or not a larger offer that is worth your while can be negotiated.

Reason #3

In some cases, an attorney will see that his or her client is not getting the best possible care, which could be for a variety of reasons. This can especially be true when the client does not have insurance. Attorneys generally have working relationships with doctors and specialists they regularly use in their cases, so you can expect to get a better settlement but also far better care than you may be able to negotiate on your own.

Reason #4

Peace of mind is something that is worth every penny to most of us. If you try to settle a case on your own, you simply may never know if the insurance company got over on you or if you got a fair deal. As mentioned above, the consultation is free of charge, so reputable attorneys won’t want to waste your time or theirs if a good deal is already on the table. It won’t cost a cent to find out if the deal is fair or not.

Reason #5

Along with peace of mind, if you do decide to go forward with a case and turn down their initial offer, hiring an experienced attorney will ensure all your bases are covered. Every aspect of the case will be scrutinized, from the defendant’s evidence to your medical records, to expert opinions, to past, present, and future monetary considerations. Not only that, but you will also have an ally on your side that will fight tirelessly to ensure you get every bit of compensation that is due to you.

Do you have an insurance settlement on the table but are unsure if you are getting a fair deal? Give us a call at 855-633-0888 and we can discuss your case. Remember, your consultation is free of charge and you are under no obligation to use our services just for consulting with us about your case. If you would like to learn more about our services before contacting us, please click here.