The key is whether the settlement offer is reasonable. Generally speaking, an initial offer from an insurance company is not going to be their final offer. So that's one thing to keep in mind, as it may be negotiable. As far as their final offer, whether you should accept it or not, then that depends on whether or not the settlement offer is reasonable in light of the extent of your injuries. You should be fully compensated for all your past, present, and future medical bills. You should be compensated for your pain and suffering and any lost wages. If, in light of your damages, the settlement offer is reasonable, then perhaps you should take it.