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Should You Accept the First Offer from an Insurance Company?

Attorney Mark Rufo PC

If you have suffered an injury in New Hampshire and are dealing with an insurance company, you may wonder whether you should accept the first offer they make. While you may want to settle matters quickly, it is important to consider several factors before making your decision.

Insurance companies, though necessary, are businesses at their core and aim to resolve claims as inexpensively as possible. This can sometimes result in a first offer that may not fully cover the costs associated with your injury.

Understanding the full extent of your injury

Before accepting an offer from an insurance company, ensure you have a complete understanding of your injuries and their long-term implications. Often, it takes time for all symptoms to appear or for a medical professional to fully understand the impact of the injury. If you accept an initial offer, you may find it falls short of covering ongoing medical expenses.

Knowing the value of your claim

You need to understand what your claim is truly worth before accepting an offer. This includes not only medical expenses but also lost wages, property damage and potential future costs related to your injury.

Considering future costs

If your injury results in long-term or permanent disability, there may be future costs to consider. These could include modifications to your home, long-term care and potential future medical treatments. Ensure the insurance offer accounts for these potential expenses.

Weighing non-economic damages

Your claim’s worth is not limited to tangible costs alone. You should also consider non-economic damages, such as pain and suffering, emotional distress and loss of enjoyment of life. While these are more difficult to quantify, they are an essential component of your claim.

While it might be tempting to accept the first offer from an insurance company to put the incident behind you, it is vital to take your time. Only then can you make an informed decision that will help ensure that you receive the compensation you need to recover and move forward.