Being involved in an automobile accident almost always means dealing with insurance companies. While insurance companies have the reputation of paying less than a claim’s true value to save money, it can be difficult for an individual to assess the value of a settlement offer. That is why consulting with Auto accidents attorneys Brighton, CO may be an important step in preserving rights after a car accident.
What Is the Insurance Company’s Job?
The reason it can be difficult to determine if an insurance company is making a fair settlement offer is that insurance companies have several obligations. First, they are contractually obligated to the insured to provide insurance coverage for damages when the insured is at fault in an accident. Second, they are legally obligated to pay out damages (up to the policy limit) to those injured by their insured. Third, they owe a duty to their shareholders to minimize losses, which means paying as little as they are required to pay to fulfill their first two obligations.
Are Insurance Company Settlement Offers Fair?
While some Auto accidents attorneys Brighton, CO might maintain that insurance companies never offer a fair settlement amount, that is not true. For minor car accidents or when the only real damages are property damages, insurance companies may offer reasonable settlements that reflect the real value of the damages suffered. For example, if a person suffered a total loss to an automobile and a minor injury that required one-time medical care, a settlement that covered the replacement value of the car, medical bills, and lost wages might be fair. However, when there are large expenses that are difficult to calculate, some insurance companies may offer lowball settlements, even knowing they will not be enough to cover a victim’s expenses.
Is Hiring an Attorney Helpful?
If the insurance company is already offering a fair settlement, unless the attorney can get enough additional money to cover the cost of their fees and still make a difference, then hiring the attorney may be a waste of time. Fortunately, an experienced personal injury firm like Richard Blundell Law Offices can assess that. To schedule a consultation, visit online and set up a meeting with an attorney. At that consultation, the attorney can assess the facts and share whether they can help.
