Many types of catastrophic injuries exist. Slip and falls, vehicular accidents and nursing home abuse are examples of possibilities. They sometimes result in spinal damage, traumatic brain injuries and even death.
With luck, an offer from an insurance company is forthcoming. Under most circumstances, there are reasons for rejecting initial settlement proposals.
Deliberate lowballing
Insurance companies hope you are willing to accept a deal the moment one appears. The urgency of mounting debt can make it seem that immediate acceptance is the best option. Returning with a counteroffer is usually a wiser decision. Representatives typically leave themselves room to negotiate a fairer amount.
Inaccurate debt calculations
Recovering from a personal injury situation often takes months. During that period, you may learn that physical rehabilitation is necessary. Perhaps further surgeries you did not expect are coming. Also, hospital bills are often slow to arrive and tough to understand. You might not fully comprehend the extent of your medical debt. Insurance companies capitalize on beneficiaries that underestimate the financial impact of their ordeal.
Dismissal of pain and suffering
Insurers are likely to assert they only owe for medical expenses. Meanwhile, catastrophic injuries have devastating side effects beyond doctor visits. Depression and anxiety are two that have no specific dollar value. Loss of mobility and an inability to perform in the bedroom are others. Arguing that you now have a diminished capacity to enjoy life may yield higher payment.
Getting insurance companies to provide ample compensation is essential. Once you strike a deal, you may not ask for more. Thus, accepting their original offer is rarely a wise decision. Understand why bargaining is justifiable in the majority of situations.