How To Deal With A Low Insurance Settlement Offer
If you have experienced a loss due to property damage, it’s only natural that you want to get the best settlement offer from your insurance company. However, many people don’t realize that they aren’t entitled to the full value of their claim—the insurance adjuster has a lot of leeway when determining the amount they are willing to pay out. In some cases, an insurance company might even try to lowball you on your settlement offer. While this is illegal in some states and against industry standards, it does happen more often than most people realize. If you’ve received a low insurance settlement offer from your adjuster and need legal assistance, here’s what you can do:
You Received a Lowball Settlement Offer: Why?
It’s important to know that receiving a lowball settlement offer is not unusual. It’s often just part of the process.
The main reason why insurance companies will use this tactic is to see if you’ll accept less than you deserve. These companies are making money, so when they can save themselves some cash by offering less than what they consider fair compensation, they’ll take advantage of the situation.
When faced with a lowball offer, your best bet is to do nothing—at least for now. Get all the information you can about your case and your options before responding to any offers or accepting any settlements from the company that caused your injuries or damages in an accident or incident with their vehicle (or other property).
Don’t Settle for Less: Negotiate A Better Deal
If your insurance company is offering a lowball settlement amount, there are a few ways you can respond.
First, ask for more information. This can help you understand the offer better and decide whether or not it’s worth considering.
Ask for more time to consider the offer. If you need more time, ask for it! Don’t feel pressured into making a decision right away—it might be better to sleep on it and give yourself some space before making such an important choice.
Ask for a higher settlement amount than the insurance company offered (if possible). You may have been in an accident with someone who was at fault, but this doesn’t mean that their insurance company should pay off everything without questioning the details from both sides of the story first!
You can then negotiate with them to see if they will make a better offer. You have two other options if they don’t make a better offer. You can accept the settlement or sue them in court.
Don’t Accept a Low Settlement Offer Without Consulting with a Public Adjuster
Don’t be discouraged if you’ve received a low insurance settlement offer. Our public adjuster may be trying to convince you that it is all they can pay and there is no other option. Here at Stone Claims Group, we help people like you get the maximum compensation they deserve. Our public adjusters will work tirelessly on your behalf to ensure that your claim receives the attention it deserves and isn’t just swept under the rug.
Our experienced team is ready to take on any case. Our lawyers will evaluate your case and determine whether the amount of money being offered by the insurance company is sufficient based on the facts of your claim.
And if all else fails and we still cannot reach an agreement after exhausting all other options? We will provide legal representation in court or arbitration. Whatever happens next depends entirely on what works best for each client!
If you are currently dealing with an unfair insurance settlement offer or have been denied coverage, please contact us at 1-800-892-1116 today for a free consultation with one of our experienced public adjusters!