Frequently, the first settlement offer an insurance company makes is lower than they’re willing to go. Remember that despite their wholesome and friendly commercials, insurance companies are in business to make money. One way they do this is by minimizing the amount of money they pay in settlements.
It may be tempting to accept a settlement from an insurance company simply to be done with your claim, but you should probably turn it down. Once you accept a settlement you forfeit your right to pursue further damages from your accident. Settling an accident claim prematurely can have serious repercussions later if injuries flare up again and you’re stuck paying medical bills out-of-pocket for the required treatment.
If an insurance company tries to wave some money in your direction, it would be wise to once again take a deep breath and think through the consequences of accepting such an offer. Or, if in doubt, get a second opinion prior to accepting a settlement.