Push Back Against Lowball Insurance Offers

Many insurers care more about their bottom lines than helping their customers. They may try to convince you that they are helping you by providing a quick payment. However, in many cases, these quick, lowball payments are significantly less coverage than you need. If your insurance company presents you with an offer, hold off on accepting it. Our attorneys at MGW Law can help you thoroughly evaluate the offer to determine whether it’s fair. We have over 50 combined years of experience in the insurance industry. We can easily recognize a lowball offer when we see one. From there, we can help devise a tailored strategy to help you seek the appropriate amount of compensation.

The Psychology Behind Lowball Tactics

Insurers use lowball offers as a negotiation strategy, leveraging financial pressure against claimants to force quick, unfair settlements. Delay tactics often accompany these offers, as insurers benefit from dragging out the process. Our lawyers understand these strategies and will work with you to counteract them effectively.

Did An Insurer Give You A Lowball Offer? Answer These Questions.

Lowball offers often share common characteristics, such as significantly undervaluing your claim or omitting key compensation categories. As you look at your offer, you may want to ask yourself:

• Does the amount they’re giving cover all of my losses?
• What formula did they use to get this offer amount?
• Does the amount they’re providing reflect what’s in my policy?
• Does the amount reflect current and future damages?
• Is the insurer transparent about the reasoning behind this offer?

Additionally, if your insurer is trying to pressure you into settling quickly, it may be another sign that they are trying to lowball you. Call us at 920-383-3911 before you sign any documentation. We can help you determine whether what they’re paying you is fair.

How You Can Negotiate A Lowball Offer

Through our combined decades of experience, we can help you push back against the insurance company when it tries to lowball you. We’ve been on both sides of these negotiations and know how to handle them effectively. We know that you need the proper documentation and evidence to increase your chances of success in a negotiation. We can help you gather all the materials you need to create a compelling counteroffer to your insurance company that reflects what your policy promises and what’s fair based on the circumstances of your claim.

Calculate The True Value Of Your Claim In Wisconsin

Consider all components, including future costs and damages, to value your insurance claim properly. We can assist you in gathering the necessary documentation to support a full valuation and account for all compensation categories. Don’t let insurers forget to include crucial elements in your settlement.

Wisconsin insurance laws can also significantly affect claim valuation. Understanding the state’s tort system and regional cost factors is vital when pursuing a fair settlement. We can leverage our knowledge of Wisconsin-specific considerations to strengthen your case and seek appropriate damages.

When A Lowball Offer May Indicate Bad Faith Practices

Sometimes, an insurance company may give you a lowball offer in bad faith. That could be the case if it:

• Is pressuring you to sign the offer quickly
• Downplays or denies the severity of your claim
• Tries to blame you for your injury, illness or damage to your property
• Does not thoroughly review your policy to ensure that the payment amounts are accurate

We can help you explore potential remedies for bad faith settlement practices to protect your rights.

Knowing When To Accept An Offer

It is vital to evaluate improved offers objectively and assess risks in settlement decisions. Sometimes, accepting a settlement may be preferable to litigation. We recommend consulting with an experienced insurance attorney before deciding to try to ensure the best outcome for your situation.

We Are Here To Guide You

The last thing you want is to accept a settlement that doesn’t adequately cover the cost of your claim. If you feel unsure about the insurance offer sitting in front of you, do not hesitate to reach out. Schedule an initial consultation with us today by calling 920-383-3911 or visiting our contact page. While we are based in Manitowoc, we take cases across Wisconsin.