Advice For Negotiating A Settlement With An Insurance Company

You’re going to have to negotiate with the defendant’s insurance company if you’re negotiating for a settlement after a personal injury accident. You may be able to settle your case or claim with a few phone calls with the insurance adjuster after you present your demand letter to him or her. Note though that this is very rare.

What typically ends up happening though is that both you and your lawyer will discuss the strengths of your case at length through a lengthy round of negotiations. You and your lawyer will do the same for the weaknesses of your case.

You’ll get a settlement offer for a lower amount than what was listed in your demand letter from the insurance adjuster. You’ll then negotiate upwards and continue the process until you arrive at a settlement amount that’s satisfactory for you.

Need to Have a Settlement Amount in Mind

You need to have a settlement amount in mind. It will help you decide on a minimum number that both you and your personal injury lawyer are willing to accept. Note, never tell the adjuster what this amount is since you’ll probably get only that amount as a final settlement offer if you do. Note that the figure is not set in stone and you may have to adjust it somewhat if the adjuster points out weaknesses in your claim that you hadn’t seen before.

Reservation of Rights of Letter

Never be intimidated or threatened by a reservation of rights of letter. You’ll likely get one from your insurance company and it merely states that the insurance company has the right to refuse to pay your claim altogether if your personal injury falls out of the scope of the policy.The first offer is to try to tempt you, that’s why it’s ridiculously low. You could get a much higher settlement offer if you negotiate, so resist every temptation to accept the first offer.

Make Sure the Adjuster Justifies the Lower Offer

Personal injury lawyer in Stoney Creek knows that you should never lower your initial demand amount simply because the adjuster tries to lowball you. Instead, ask the adjuster to justify why he or she offered you an initial paltry amount. Be sure to note down what he or she tells you and then send him or her a letter justifying your case for each point that was mentioned. Make sure that you provide ample evidence for each justification.

Emphasize Emotional Points

Make sure to emphasize the points in your favor. There really is no point in trying to discuss the weaknesses of your case. You’ll find that emotional points will help to make a case with points in your favor stronger. Always make sure that your settlement is in writing. Get it from the adjuster. Chances, are the adjuster will KISS (keep it short and simple) when writing the letter.

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