Should I accept my first compensation offer?

Should I accept my first compensation offer?

Compensation calculator schedule 2020

KeyWhat differentiates a reasoned offer from any other type of compensation offer is that its collection does not imply any waiver by the injured party, who may continue claiming the rest of the compensation that he/she believes he/she is entitled to by any of the existing means for this purpose.

There is no fixed term in this respect. In general we can say that it is not convenient to extend the answer too much but it is not convenient to rush, being very advisable to consult with a professional in the matter to advise us correctly.

In case of disagreement the first thing we must decide is whether or not to accept the delivery of the money offered, always without renouncing to continue with the exercise of all the actions that correspond to us or, on the contrary, we decide to reject the motivated offer.

We have already discussed in which cases it is convenient to accept the delivery of the money and in which cases it is not. Now we are going to see the two options that we have at the time of continuing claiming the amount that we believe that in right corresponds to us:

What to do if the insurance does not take over

As its own name indicates, this offer must be motivated, that is to say, it must explain the origin of the amount offered, through the reports and data on which the insurer has based itself to elaborate such offer.

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It is also important that the reasoned offer states that the receipt of the payment of the amount offered is not conditioned to the waiver by the injured party of the exercise of future actions.

In order for it to be valid, the reasoned offer must be presented in accordance with the provisions of the Law on Civil Liability and Insurance in the Circulation of Motor Vehicles in force. To this end, it must comply with the requirements indicated above.

Because of this, in order to determine that the reasoned offer is appropriate, it is vital to handle all related information including the aforementioned indicators, as well as the details contemplated in the final medical report and other related documents.

The regular procedure is for the injured party or parties to file a claim for indemnity with the corresponding insurance company. From that moment on, a period of three months begins to run for the presentation of the reasoned offer.

Claims denied

Many insurers are not making reasoned offers as they should, to the detriment of the interests of the victims and hindering the defense work of their lawyers. We share key points about the reasoned offer that you should not forget.

Now that we know what is the reasoned offer of compensation to be submitted by the insurer responsible for the claim, we can go deeper to understand what we should not overlook as accident victims, family members or defense lawyers.

First of all, the reasoned offer must be sent to the accident victim in a written document. The offer must contain, in accordance with the requirements of the Law on Civil Liability and Insurance in the Circulation of Motor Vehicles, the following information:

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It shall be stated that the payment of the amount offered is not conditional upon the waiver by the injured party of the exercise of future actions in the event that the compensation received is less than that to which he may be entitled by law.

How much insurance pays for minor injuries 2021

Before telling you about the requirements, let’s explain what the reasoned offer is. It is a concept that was introduced with the new accident scale and is simply the response that the insurer has to offer to a claim for compensation for a traffic accident.

Although it is not something that must be included in the reasoned offer, it is the term that the insurer has to present this document from the moment it receives the claim. After these three months have elapsed without the insurer presenting the reasoned rejection or the reasoned offer of compensation for a traffic accident, interest for late payment will begin to accrue and must be paid to the claimant. They will also have to pay late payment interest if they do not pay -or consign- the compensation to the injured party in a traffic accident within five days.

As we have already explained, once the reasoned offer is accepted, the payment of the compensation must be made within 5 days, and can be made either in cash or by means of a joint and several guarantee of indefinite duration and payable on first demand.

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