We get it. We truly understand how receiving a settlement offer from an insurance company can feel like a huge weight being lifted. Because face it, you’ve been through a traumatic experience, you’re dealing with pain and stress, and to top it off, you have bills piling up!
So when you receive an ‘early’ offer in settlement of your claim, it’s incredibly tempting to say yes and just make the problem go away. However, this is where we at RG Jones Solicitors come in with a word of caution.
Hear us out! Before you sign on the dotted line, you must understand the truth about the personal injury claims process, and that is: the first offer is almost never a fair offer.
You might be thinking we’re just being overly cautious. However, it’s crucial to keep in mind that the initial figure is often a calculated, pre-medical offer designed to close your case as cheaply as possible. At the end of the day, insurance companies are businesses, and their primary goal is to protect their bottom line. Hence, their claims adjusters are trained to minimise payouts, and therefore, they will use every tactic to convince you that their first offer is reasonable and that the claims process is too complicated to pursue on your own.
Most of the time, they’re hoping you’ll accept out of desperation, inexperience or a desire for a quick resolution, without considering the full, long-term impact of your injuries. Which is why we’re here to shed some light on the situation to help you make an informed decision! Here at RG Jones Solicitors, we will advise upon the risks of accepting a pre-medical offer in settlement of your claim.
So Firstly, How Do Insurance Companies Calculate Your ‘Offer’
The insurance company’s initial offer is not a true reflection of what your case is worth. Instead, it’s typically based on a simple, automated formula that only accounts for your most basic, obvious losses, such as your injuries, medical expenses and perhaps a couple of weeks of lost wages.
This limited view of your losses is potentially a strategic move to save them money. They know that once you agree to a settlement, your claim is closed forever, and you can’t come back to them later if your condition worsens or new costs emerge.
But… What Does A “Fair” Settlement Really Look Like?
It’s important to understand that a truly fair and comprehensive settlement accounts for every single loss you have experienced, both seen and unseen, and at RG Jones Solicitors, we believe in securing the full compensation you are entitled to, and we meticulously build your case to include:
- General Damages (Pain, Suffering and Loss of Amenity): These are the less obvious, but equally important, costs that can significantly impact your life. These losses include compensation for your pain and suffering, as well as for the loss of amenity or the inability to enjoy hobbies and daily activities you once loved. For instance, if you were an avid runner and your injury has made that impossible, or if you can no longer play with your children in the same way, a fair settlement should compensate you for that loss. Additionally, we will also account for the psychological impact of the accident, such as anxiety, depression or post-traumatic stress disorder (PTSD).
- Special Damages (Financial Losses): These are the easily quantifiable, financial costs of your injury. They include all your past, present and future medical expenses, such as physiotherapy, counselling, medication and assistive devices. This head of loss also covers your lost earnings, including any overtime, pension losses, bonuses or commissions you’ve missed out on. Rest assured, we will also factor in other out-of-pocket expenses like travel costs to and from medical appointments, property damage, and the cost of any care or help around the house you’ve needed.
With this in mind, take note that the first settlement offer will almost certainly not include these losses, leaving you financially exposed in the future..
The Power of Having a Specialist Solicitor on Your Side
This is why having a specialist personal injury solicitor is so vital, as we understand the true value of your claim, not just what an insurance company’s formula says it’s worth. Hence, rest assured a specialist solicitor will handle all communications with the insurance company, so you don’t have to navigate their intimidating tactics alone.
At RG Jones Solicitors, our first step is always to properly assess your case and gather all necessary evidence. We’ll work with independent medical experts to get a comprehensive report on your injuries and a long-term prognosis. We’ll calculate your lost earnings (past and future (if necessary)) and other expenses and build a robust legal argument that clearly demonstrates the defendant’s liability.
Together with our No Win, No Fee guarantee, there is no financial risk to you. We are motivated to secure the maximum possible compensation because our success is directly linked to yours. Therefore, we will meticulously negotiate on your behalf, using our expertise to challenge an unreasonable offer and ensure you get a settlement that truly reflects the nature and extent of your injuries and your financial losses.
So don’t settle for less than you deserve. Let us fight for you – get in touch with us now at 0151 332 5252 or info@rgjonessolicitors.co.uk.
About RG Jones Solicitors
For over 20 years, RG Jones Solicitors has been dedicated to helping people who have been injured through no fault of their own. We are specialists in personal injury law, and our focus is always on you, our client. We pride ourselves on offering a professional service with a personal touch. Our lead solicitor, Rosaleen Jones, is consistently praised by clients for her approachable, efficient and supportive manner. It is with this dedication to our clients that drive us to secure the best possible outcome for you.
Upholding the Highest Standards:
As personal accident solicitors, we adhere to the strict guidelines set by the Solicitors Regulation Authority. We’re committed to acting with integrity, transparency, and professionalism throughout your case.
