Accepting a Settlement for a Motorcycle Wreck

Accepting a Settlement for a Motorcycle Wreck

Settlements for Motorcycle Accidents

After a motorcycle accident, you can make a claim with an insurance company to get compensated for damages. Claims often include medical expenses, lost wages, pain and suffering, related costs, and property damage. If you caused the accident, you must turn to your own insurance company for payment. If the other driver is liable, you make the claim with their insurance agency. In the end, however, you may be dealing with similar issues when accepting a settlement. These are the top things to know about insurance agencies and settlements.

Insurance Is a Money-Making Business

Insurance companies are out to make money, not dish it out. Though they are supposed to be there to help you in times of crisis, you may have a great difficulty getting rightful compensation from them. Always assume that the insurance company is trying to lowball you when they offer a settlement.

The First Offer Is Usually Low

You may receive an initial settlement offer only a few days after your accident. This is concerning because it has not given you enough time to actually assess all of your damages. The first offer is probably much lower than what you need after the accident. It’s better to refuse the initial amount so that you can focus on organizing your claim.

You Can Take Time to Consider the Offer

Take the necessary time to document your injuries and costs incurred by the accident. Rushing to accept a settlement can mean losing out on money you may need later. Insurance companies often try to take advantage of desperation with a quick fix through a low settlement, but you should wait until you know the full extent of your damages.

Talking to Insurance Adjusters Can Negatively Affect You

Insurance adjusters are trained to look for flaws in your story. If you get contacted by an adjuster, know that you are not legally required to speak to them. Saying anything that makes you appear negligent or liable for the crash could sabotage your chances at reaching a settlement.

You Have the Power to Negotiate

Negotiations are completely possible when dealing with insurance. If you feel you haven’t been offered enough, ask for more. Some people struggle handling insurance deals, so they hire a lawyer to help them prove their case. Feel free to seek out a motorcycle accident lawyer who can negotiate with insurance for you and help you get the compensation you deserve. A firm like Brandy Austin Law Firm, PLLC could be of assistance in your settlement.