Although insurance companies claim to be looking out for you, they don’t grow into multi-billion dollar businesses by paying the full value of every claim. The only sure way to get the settlement you’re entitled to is to retain a personal injury attorney to represent you.
Should you choose to settle your claim on your own, however, there are some things you need to know:
A settlement check is only an offer to settle.
The settlement check you get from Mercury is not the last word on the value of your claim. It’s an offer they hope you’ll take. 9 times out of 10, the offer is nowhere near what you expected. If that’s true in your case, resist the temptation to deposit the check. Once you do, you forgo the right to negotiate for a better settlement.
There is a 3-year statute of limitations on personal injury claims.
When you’re dealing with an insurance company, you have one bargaining chip: the threat of a lawsuit. However, Wisconsin has a 3-year statute of limitations for filing suit. If you haven’t been able to resolve your claim within 3 years and don’t file suit, be stuck with whatever settlement Mercury offers. Keep an eye on the calendar!
If your insurance company says there’s no need to get lawyers involved, there is.
The last thing an insurance company wants to hear is that you’re hiring an attorney. This throws a wrench into their plan to delay your claim until you cave in and accept their lowball settlement offer. They’ll tell you there’s no need for lawyers, yet meanwhile, they have armies of them looking out for the best interests of their business. Bottom line: Get an attorney to represent you.