After being involved in an accident, especially one where you sustained injuries, you probably just want to move on. If an insurance company offers you a lowball settlement offer it can result in stress and frustration. Everyone deserves to be fairly compensated for an accident or injury. If you need help dealing with an insurance company, contact a Geneva, Illinois personal injury lawyer.

How Can I Tell if I’m Getting Lowballed?

If you are disappointed after receiving a settlement offer from an insurance company, you may be wondering if the number is lower than it should be or if that is really what the situation is worth. While an insurance company will never come right out and say that they are trying to lowball you, there are signs you can look for. The following instances may hint towards a lowball offer.

  • They are trying to settle too quickly
  • They are pressuring you to accept
  • They won’t explain their calculations
  • They stop communicating with you

Why Am I Being Lowballed?

Receiving an offer that is clearly less than it should be can be frustrating. Know that it is not your fault that they are trying to lowball you. There are many reasons that you might be offered an unfair settlement. Some of the reasons include:

  • Most people accept the first offer
    • A major reason that insurance companies lowball is because they know that a lot of people will accept the offer. An average person with no law or insurance background may not realize that they are getting an unfair offer so they will agree to settle.
  • They have deemed the accident your fault
    • Even in no-fault states insurance companies may decide on coverage based on who caused the accident. If they have seen the evidence and decided that you are at fault, it could result in a low offer.
  • They miscalculated
    • Insurance companies use formulas to determine compensation and plug in numbers from your case. If they are missing information or did not account for all of your expenses it could have led to a miscalculation.
  • They use AI technology
    • AI (artificial intelligence) can be beneficial in many ways. Some companies have begun using AI to calculate settlement costs. However, because AI is missing the human component, it may be unable to accurately factor in certain aspects such as pain and suffering.

Can a Lawyer Help Me With a Lowball Offer From Insurance?

Hiring a lawyer can greatly benefit you and your case. An experienced lawyer will have dealt with similar situations before. They will be better able to spot signs of a lowball offer and know the best steps to take to negotiate for more fair compensation. You probably don’t have the law background, time, or experience to properly communicate with insurance companies but your attorney does.

Insurance companies can get away with paying people less than they deserve because many people are simply unaware of their rights. A skilled attorney will know the scope of the law and be able to advocate and fight for you to receive the settlement you deserve.