At some point in your personal injury claim, you will be required to negotiate settlement offers. This will have to also involve the at-fault party’s insurance company. Because insurance companies will immediately offer the lowest settlement possible, you have to be wise about how you demand a bigger offer. We discuss the many tactics you can use to reach the settlement you need for your personal injury claim.
Gather Important Information for Your Personal Injury Claim
The first and most important thing when it comes to working with insurance companies is gathering all the important details regarding your accident, including the time, parties involved, and injuries sustained. You should have gotten the information of the other party involved in the case. You might be able to get their information if an accident report was filed.
Handle Communication Appropriately
If you don’t communicate with an insurance company in the way their policy specifies, they will take it that the claim is unimportant. Some insurance policies state that the insured must submit a claim within a certain amount of time and submit information within a given timeline. Abiding by this can significantly help your claim.
Have a Settlement in Mind Before the First Offer
This is something to give plenty of thought to before sending off your demand letter (which we will discuss shortly). Determine what you believe your claim is worth. Think about injuries how the accident affected you, and use these factors to come up with a settlement that you believe you deserve.
Be on the Lookout for a Reservation of Rights Letter
If you receive a “rights of reservation” letter while you are communicating with the insurance company, this is nothing to worry about. The letter is intended to inform you that the company is investigating the accident and your claim. Additionally, the insurance company reserves its right not to pay you anything if the policy does not cover the accident.
Provide Specific Outline on Damages
Once you have received the reservation of rights letter from the adjuster, this is your opportunity to send a demand letter. Submitting a demand letter is best done when you have fully recovered from your personal injury. You can also wait a little after making made significant strides throughout your recovery. This is because it will be easier to identify accident-related costs and losses.
In order to get the compensation you feel is necessary to cover your injury, you have to provide information and details related to the costs of medical care, rehabilitation, nursing care, disability, lost wages, and property damage, if they apply. When you add up these costs and expenses, you will have calculated your “economic” or “special” damages, making it easier to demand your requested compensation.
Emphasize Emotional Points in Your Personal Injury Claim
In negotiations with insurance companies, you shouldn’t have to bother about going over the facts again. At this point, the insurance company should know the facts. One tactic that can help you is to stress the idea that the insured was completely at fault and that you suffered a very painful injury as a result. Don’t be afraid to emphasize the pain and suffering that came out of your accident.
Carefully Review the Insurance Company’s First Offer
Once the insurance company receives your demand letter, they will be sending a response in return. One thing you need to keep in mind when they provide their first offer is that insurance companies do not have your best interest at heart. They will do what they can to minimize the payout you receive. Should the first offer seem too little, do not be afraid to deny and demand a bigger settlement.
Make Your Counteroffer and Explain Why
You have the right to make a counteroffer against the insurance company’s first offer by proposing a counteroffer of your own. You can either demand the amount you initially requested or somehow meet in the middle. The point is to never settle in order to be successful focus to emphasize the extent of your injuries. Make sure to include the suffering you have experienced due to the party at fault.
Always Consider Having a Lawyer in Your Case
If the insurance company continues to be difficult with a final settlement, this is where having a lawyer really helps. With help from a personal injury lawyer, you can file a lawsuit. Often enough, it ends up pushing them to offer a more reasonable settlement. You have the right to take legal action if you are not satisfied with an insurance company’s offer.
For Your Personal Injury Claim and Legal Help, Choose Our Law Firm!
While our guide touches on some helpful tips, you can never go wrong by hiring a personal injury lawyer. Allow us to walk you through your claim to help you get the settlement you deserve. Contact us to learn more.