Should I accept the first offer of a car accident settlement?

Question

I didn't know if lawyers always say take the first offer because it is easiest for them and too much work to negiotiate further.

Answer 1

You should negotiate the price. Make sure the offer isn't too low!

Answer 2

Never take the first offer.  Always get a second and third opinion  before settling on what you want.  Think of what the accident could have caused that will effect you in future years.

Answer 3

Lawyers are supposed to have the best interest of their client at heart. And personal injury lawyer usual get a percentage of the settlement. So if you could get more, it stands to reason that he would try.

Answer 4

Not neccessarily. If they are offering what you feel the car is worth, then you can take it. However you can fight for more if you feel the settlement is unfair. Also, even if you accept the settlement, It is always good to NOT close your case right away... due to injuries caused by the accident can show up later etc etc.

Answer 5

need more details than this. I'll check back

Answer 6

No ... an insurance company will always go in first with a low-ball offer -- for obvious reasons.  (They realize that most people are "hungry" for cash and will take-it-and-run.)  If you refuse it and come back with a counteroffer -- you, likewise, will want to make a counteroffer that is higher than what you are willing to settle for.  You and the insurance company may end up exchanging offers several times before you meet-in-the-middle.  

And there's often the possibility that the company will never offer you as much as you think you deserve.  In that event, you have 2 choices -- (1) go ahead and accept their offer or (2) hire an attorney.  But the downside of hiring an attorney (and I say this having worked in an attorney's office for 25 years) is that you will have to pay the attorney an average of 1/3 for whatever he recovers for you.  So you have to ask yourself -- which way will I come out ahead?  Do the math ...

The same rationale holds for the attorney who is negotiating with the insurance company.  Since the attorney is working on a contingency basis (e.g., 1/3 of the settlement), it obviously puts more money in the attorney's pocket if he gets a bigger settlement.  But -- as I said before -- you have to decide before you hire an attorney whether you think it will net you more money or less money.  However, it doesn't cost to phone and talk to an attorney ... call him and present the facts to him and see what he says.  In my office, we quite often tell someone that it won't pay them to hire us -- they need to handle it themselves.  (Depends on whether you're talking to a reputable attorney though ...)

Answer 7

NO!!!

negotiate more and you'll get more money.

Answer 8

if it's fair and reasonable yes i would take it. if not, then no.

i think they say that because sometimes the more that is found out, the more damage it could do to your case. maybe they're just concerned the offer will go down instead of up!