Why accepting an insurance company’s first offer of compensation for an RTA may be a mistake

Last Updated on: 21st November 2023, 09:05 pm

If you’ve been involved in a road traffic accident (RTA), you may be tempted to accept your insurance company’s first offer of compensation. However, this could be a mistake.

This guide will help you understand why this might be the case and what you should do in this situation.

Why Would the Insurance Company Make a Low Offer?

Your insurance company is not necessarily looking out for your best interests when they claim compensation for a personal injury on your behalf. They may want to settle your claim quickly and cheaply without fully considering all of the damages and losses you have suffered.

At the end of the day, your insurance company is there to make a profit. One way they can do this is by reducing the amount of money they pay out in claims.

What Should You Do If You Receive a Low Offer?

If you receive a low offer from your insurance company, you should not accept it. Instead, you should get in touch with a personal injury lawyer who will be able to advise you on what your claim is worth and how to proceed.

A personal injury lawyer will also be able to negotiate with the insurance company on your behalf to get you the compensation you deserve.

Do I Need a Personal Injury Lawyer?

You may be able to negotiate a fair settlement with your insurance company without the help of a lawyer. However, if you’re unsure what your claim is worth or you’re not confident in your negotiating skills, it’s always best to seek legal advice.

A personal injury lawyer will be able to tell you how much your claim is worth and give you an idea of how much you should expect to receive in compensation. They will also be able to negotiate with the insurance company on your behalf to get you the best possible settlement.

The legal system is notoriously complicated, and it can be challenging to know where you stand without professional help. This is particularly true when it comes to personal injury claims.

Won’t a Lawyer Take a Percentage of my Compensation?

Yes, most personal injury lawyers will charge a percentage of your compensation as their fee. However, this is usually only payable if you are successful in your claim though you should be aware that there may be some admin fees payable whether you win or not.

No Win, No Fee

Some personal injury lawyers may offer a ‘no win, no fee’ service. This means that you will not have to pay anything upfront, and you will only be charged a fee if your claim is successful. Lawyers are unlikely to offer this option if they don’t think you have a strong case, so this can be a good way of gaining a sense of whether or not it’s worth pursuing compensation.

While compensation is often paid out at the end of the negotiation, it is sometimes possible to be awarded interim payments, which can help to cover the costs of legal fees and any other expenses you may have incurred as a result of your accident.

What RTA’s Might Result in Compensation Being Awarded?

If you’ve been involved in an RTA, you may be able to make a compensation claim. To do this, you will need to prove that the other driver was at fault and that you have suffered damages due to the accident.

You will also need to show that your injuries were caused by the accident and that they have had a negative impact on your life. For example, if you have had to take time off work or pay for medical treatment, you will be able to include these costs in your claim.

Compensation may also be awarded due to the stress of being involved in the accident, so even if you have suffered non-physical injuries, you may still be able to make a claim.

What Should You Do After an RTA?

If you’ve been involved in an RTA, the first thing you should do is seek medical attention, even if you don’t think you’ve been injured. Some injuries, such as whiplash, can take days or even weeks to develop, so it’s essential to get checked out as soon as possible.

Once you’ve seen a doctor, you should contact a personal injury lawyer and get their advice on whether or not you have a case for compensation. If they think you do have a strong case, they will be able to help you to gather the evidence you need and negotiate with the other driver’s insurance company on your behalf.

Claiming compensation can be a complex and stressful process, but with professional legal help, it can ensure that you receive the payment that you deserve.

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