Did The Insurance Company Give Me a Fair Settlement Offer?

This is probably the most common question that we receive from potential clients dealing with their auto insurance company. Without going into a long discussion about what compensation you are legally entitled to, the average value of jury verdicts for similar injuries, and the specifics of your situation, the general answer is in all likelihood no.

Like it or not insurance companies are for-profit businesses and your settlement represents a loss. So it will always be in the insurance company’s best interest to minimize your settlement to whatever degree they think they can get away with. In looking at recent studies this strategy seems to be working for them. In 2010 alone, State Farm earned $1.8 billion whereas Farmers earned $1.678 billion. These insurance companies did not get to this point by freely giving out money to maximize the compensation due to every injury victim.

This is why an attorney is almost always necessary in order to fight for the compensation that you are due, including past and future medical bills, past and future wage loss, property damage, and pain and suffering.

Contact a personal injury lawyer today at 865-766-4040 to make sure you are getting the best offer for your situation.

 

The Law Office of Van R. Irion represents personal injury clients in Knoxville and surrounding areas of East Tennessee, including Knox County, Sevier County, Loudon County, Anderson County, Blount County, Monroe County, McMinn County, Jefferson County and Claiborne County and the cities of Sevierville, Gatlinburg, Vonore, Madisonville, Alcoa, Sweetwater, Farragut, Tellico Plains, Loudon, Lenoir City, Athens, Oak Ridge, Greenville, Maryville and Clinton.

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