Auto insurance companies are in the business of making money. As such, they are more than willing to accept premium payments, but hesitate to pay out claims after car accidents. When Ohio residents receive a settlement offer after a crash, they should automatically assume that the offer will not be enough to cover all of the financial losses associated with it.
First, it may help to know that the claimant is not required to accept the insurance company’s offer. More than likely, after analyzing it to determine whether it covers the losses, he or she will reject the offer. It may be possible that the low offer resulted from not having all of the relevant information, including medical records and bills, damage estimates and other needed documentation. The insurance company may believe that you contributed to the crash. These types of issues may be easily rectified by providing more and better information.
In other cases, the insurance company considers the first offer as an opening gambit since it expects that the individual will reject the first offer. Still, many people will accept these offers. The insurance company takes the chance that will happen, but if it does not, it may already be prepared to respond to any counteroffers.
Accepting that first offer may be tempting to Ohio residents who face thousands of dollars in medical expenses and the loss of income that comes with recovering from injuries suffered in car accidents. However, with patience, it may be possible to obtain the full amount of restitution an individual may actually be entitled to receive. In order to know for sure, it might be advantageous to discuss the matter with a personal injury attorney.