Do You Have to Accept a Portland Insurance Settlement?

If you were in an auto accident in Portland, you may be considering whether or not to accept the insurance settlement offer.

What is an Insurance Settlement?

An insurance settlement is an aspect of the insurance claims process, typically involving a financial agreement reached between an insurance company and the claimant.

When an individual experiences an unfortunate event, such as a car accident, medical emergency, or property damage, their insurance policy may cover the resulting expenses and damages.

Insurance settlements are especially relevant in personal injury claims, where the injured party seeks compensation for their physical, emotional, and financial losses.

These settlements are intended to restore the claimant to their pre-accident condition as much as possible, providing them with the necessary funds to cover medical care, rehabilitation costs, property damages, and other related expenses.

To initiate the insurance settlement process, the injured person must file a claim with their insurance provider, either directly or through an attorney.

The insurance company will then assign a claims adjuster, who will evaluate the circumstances of the accident, investigate the damages, and determine the extent of the insurance coverage.

After assessing the claim, the insurance adjuster will present an initial settlement offer to the claimant.

Personal injury lawsuits almost always end in settlements. According to the U.S. Department of Justice, only 4% to 5% of personal injury cases go all the way to trial. [1]

What is an Insurance Settlement?

Do I Have to Accept the Insurance Settlement?

Insurance settlements are designed to provide compensation for the physical, emotional, and financial damages caused by the accident. Insurance companies are in the business of minimizing their payouts, which means that the initial settlement offer may not reflect the true extent of your losses.

If you believe that the initial settlement offer does not adequately compensate you for your losses, you have the right to negotiate for a higher amount. Your attorney can help you navigate the negotiation process and advocate for your interests.

Insurance companies may refuse to settle or deny your claim altogether. They may also make it challenging for you to obtain a fair settlement. Have a personal injury attorney on your side. They will fight for your rightful benefits by filing a lawsuit against the insurance carrier if necessary.

You do not have to accept an insurance settlement if you believe it does not adequately compensate you for your losses.

Carefully Consider the Settlement Offer

Review the offer thoroughly and determine whether it truly reflects the extent of your losses.

One option to help you assess the settlement offer’s fairness is to consult with an experienced personal injury lawyer. These professionals have experience in dealing with insurance companies and can provide valuable guidance on whether the offer is reasonable or if you may be entitled to a higher amount.

A personal injury attorney will evaluate the details of your case, including your medical conditions, the extent of your injuries, and any ongoing treatment or rehabilitation costs. They will also consider the emotional distress and financial burdens you may have experienced due to the accident.

Carefully Consider the Settlement Offer​

How Do I Negotiate a Fair Settlement?

How Can I Pay My Bills If I Don't Settle My Case?

How Can I Pay My Bills If I Don't Settle My Case?​

When Should I Accept the Offer?

Before accepting any offer, it’s important to thoroughly evaluate the compensation being offered. Take into consideration all of your damages, including medical expenses, property damage, lost wages, and pain and suffering. Ensure that the settlement adequately covers all of these costs.

Consider the long-term implications of accepting a settlement. Personal injuries can have lasting effects on your physical and emotional well-being. Have a clear understanding of your medical condition, including any potential future complications or the need for ongoing treatment.

Insurance companies often pressure accident victims to accept a settlement quickly, before they have had sufficient time to fully assess their injuries and long-term prognosis. Take the time you need to consult with medical professionals and understand the full extent of your injuries.

If you accept an insurance settlement, you typically waive any future rights to pursue additional damages related to the accident. This means that you cannot seek further compensation in the future, even if your medical condition worsens or new expenses arise.

Don’t Let a Portland Insurance Company Take Advantage of You.

With our expertise, we can help you understand your rights and ensure that you receive the fair settlement you deserve.

Contact Goldberg & Loren today for a free consultation. Don’t wait any longer to get the compensation you are entitled to.


[1] Johnson, J. (2022, September 22). Personal Injury Settlement Amounts Examples (2023 Guide). Forbes Advisor.

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