Are there penalties if I refuse an Ohio insurance company’s offer?

No, there are no penalties under Ohio law for refusing an insurance company’s settlement offer after an accident. You have the right to reject an offer if it does not fairly compensate you for your injuries and losses. Insurance companies often make early offers that undervalue claims before the full extent of medical treatment and long-term impact is known. While an insurer may withdraw or change an offer over time, refusing a settlement does not harm your legal rights, and you may still negotiate further or pursue a lawsuit within Ohio’s statute of limitations.