Negotiating Your Car Accident Insurance Settlement

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Attorney Merrida Coxwell | 888-592-5505 | Free Consult

“If someone were to ask you, ‘What is your greatest asset or assets in your life?’, would you list your car or your boat? Or would you list your health? Your ability to play with your children… to pick up and play with your grandchildren. To me those are the greatest assets in life.”

When negotiating your car accident insurance settlement, should you accept the first offer from the insurance company? How can you tell if it’s a fair offer?

Merrida Coxwell is a personal injury attorney and managing partner at Coxwell & Associates, PLLC, based in Jackson, Mississippi. In this video, he explains how he assists victims of car accidents. After a quick phone call, he can let you know if you need an attorney’s help.

To learn more, contact the attorney directly by calling 888-592-5505 or by submitting a contact form on this page. There is no charge for the consultation, and you never owe any out-of-pocket attorney fees.

Key Takeaways From Merrida Coxwell:

Many people wonder whether they are being offered a fair settlement after an accident. In fact, they could be offered a number that at first seems sufficient to pay their medical bills, but upon seeking the advice of a lawyer, they learn they are eligible for greater compensation.

Coxwell urges people to slow down and get a full medical examination before considering a settlement offer.

Coxwell advises car accident victims not to be in a hurry to take quick money. Victims of these accidents only have one opportunity to seek a full and fair recovery for their damages, and some damages might not even surface until after a victim has reached maximum medical recovery.

Insurance companies generally undercut damages.

While an insurance company may at best account for easily calculable damages referred to as “special damages”, such as the cost of medical bills, cost of fixing the car, lost wages, and future care expenses, they fail to compensate for the loss and damage to a victim’s greatest assets: their quality and enjoyment of life. If a car accident victim will no longer be able to engage with their daily life, family, and friends like they did before as a result of their injuries, these non-economic damages are just as deserving of compensation as any of the special damages mentioned above. Insurance companies have a tendency to diminish the worth of these damages which have no specific number automatically attributed to, often referred to as “hedonistic damages”. A good car accident attorney will help their client evaluate both the special damages and hedonistic damages incurred from the accident and decide what a fair compensation would be, as well as how to convince the insurance adjuster and jury that the compensation being asked for is well-deserved.

It’s important to exercise caution with quick settlements.

If a person has reached maximum medical recovery and was only slightly injured in an accident, it could be possible that even a quick settlement offers a fair amount of compensation. However, it’s important to remember that every case is different. In some situations, it’s wise to turn down the initial settlement until speaking to a lawyer.

A trial attorney can often make your case in such a way that the insurance company offers you the maximum settlement rather than the minimum that was offered up front. Insurance companies keep records of the lawyers who go to court and win, and they will behave differently when dealing with an attorney they know means business.

Talk to an attorney before you talk to an insurance adjuster.

Insurance companies make their money by reducing and denying claims wherever possible. This is why it’s important to refrain from speaking to an insurance adjuster until after speaking to a lawyer. Simply taking the contact information of the insurance company and adjuster you are speaking with is sufficient until after seeking legal counsel. Car accidents and the resulting damages create understandably emotional situations for everyone involved. This is another reason it’s a good idea to seek legal counsel and consider hiring representation from an experienced attorney who will be able to treat you with compassion, while at the same time removing emotion from the situation when dealing with an uncooperative insurance company.

To learn more, contact Merrida Coxwell directly by calling 888-592-5505 or by submitting a contact form on this page. There is no charge for the consultation, and you never owe any out-of-pocket attorney fees.

Disclaimer: This video is for informational purposes only. In some states, this video may be deemed Attorney Advertising. The choice of lawyer is an important decision that should not be based solely on advertisements.