NEWS

How To Negotiate With Insurance Companies Following a Personal Injury

Published

on

Most personal injury lawsuits and claims settle outside court. Insurance companies will try to undervalue the victim’s damages when offering a settlement. Below is a list of tips for negotiating with an insurance company following a personal injury.

Understand the Worth of Your Claim

Claimants should understand the overall value of their claims to minimize the possibility of low settlement offers. Insurance companies have no problem lowballing the victims even if the claim is worth more. Some insurance adjusters take advantage of clients who need more understanding of the process. For this reason, contact a personal injury lawyer by visiting ReinartzLaw.com to understand the economic damages you’re entitled to receive. Claimants should also go through the insurance company’s obligations to understand the terms and conditions regarding the compensation process.

Highlight the Strong Points

As claimants negotiate with insurance companies, they must emphasize how their lives are affected by subsequent injuries and accidents. For instance, emphasizing exorbitant medical expenses, evidence of the at-fault party, and permanent disabilities can go a long way in crafting a solid case that guarantees fair compensation. The insurance company doesn’t compensate victims for non-economic damages. Still, claimants who stress the significant impact of the accident on their ability to live a normal life can secure a settlement offer.

Research

Claimants should only commence an insurance claim once they assemble everything in place. Insurance adjusters often take advantage of victims’ lack of knowledge to compel them into accepting a lower offer than they deserve. Victims should study the at-fault party’s insurance coverage to establish the worth of their compensation claim. Gather all the relevant evidence to support your claim to have the upper hand in your case.

Don’t Accept the Initial Offer

Insurance claim adjusters will often send back a low-ball offer to the victims. Avoid accepting the initial offer you receive from the insurance company, and consider making a counteroffer. Victims should review the first offer with the assistance of a personal injury lawyer to assess whether it’s adequate or not. Most claimants, however, accept the initial offer without realizing the powers they yield to negotiate for a higher compensation amount.

Make a Counteroffer

Claimants must defend their demand for fair compensation with the help of concrete evidence. However, victims should be open-minded to let the other party know they’re willing to meet them halfway. There may be instances where insurance adjusters bring counterclaims that may weaken your case. In this case, lowering your figures enables both parties to agree.

Put Your Settlement in Writing

Most insurance negotiations happen over the phone or verbally. Make sure to get the insurance company’s offer in writing with the help of a personal injury lawyer. The writing serves as valuable evidence for supporting your case in case the insurance company attempts to delay the settlement payout or retracts its offer.

Decide Whether You’ll Deny or Accept the Final Offer

Claimants should compare the final offer with their estimated value to determine whether the amount is reasonable. A personal injury attorney helps you evaluate the fairness of the offer. If both parties reach an agreement, you should confirm the terms with an insurance adjuster, including the settlement date and the settlement coverage.

Work With a Personal Injury Lawyer

Claimants should hire a seasoned personal injury attorney to minimize the possibility of underpayment by the insurance company. The legal professional handle the negotiation process on your behalf, which increases the chances of securing fair compensation. The insurance company won’t take advantage of you if you hire a seasoned legal professional to handle your case.

The most challenging part of personal injury claims is dealing with insurance companies. Work with a reputable personal injury attorney to navigate the complexity of the legal process. Follow the above tips to negotiate with an insurance company for fair compensation.

Trending

Exit mobile version