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How To Negotiate An Injury Settlement With An Insurance Company?

Not everyone that has filed a personal injury claim should feel guaranteed of receiving a fair compensation. The filer/claimant ought to become familiar with the steps that need to be taken by all smart claimants.

Preparatory Steps

After the injured victim of an accident has filed a personal injury claim, then he or she should devote some time to preparing an organized demand letter. In that letter the claimant should offer details on the events that took place at the time of the accident, especially those that were responsible for the claimant’s injuries.

Personal Injury Lawyer in Waterloo might explain why the other party should be held liable for the reported injuries. Include a monetary figure, the estimated costs for the reported injury. Send the demand letter to the company that has insured the person that appears responsible for the accident.

The Negotiation Process

In response to the demand letter, the insurance adjuster should make an initial offer. Some adjusters make a habit of opening negotiations with a low-ball offer. Someone that receives such an offer should send a letter asking for an explanation of the large difference between the amount mentioned in the demand and the amount that has been offered.

Ideally, the adjuster should respond to the claimant’s correspondence. After reading that response, the claimant might want to reconsider the amount that he or she plans to request. The reconsidered amount could be either higher or lower than the one that was presented initially.

For instance, if the adjuster’s arguments seem sensible, in light of the established facts, it might be best to reduce the size of that request. On the other hand, if the adjuster’s low offer comes close to the amount demanded initially, then it might be best to increase the size of that demand.

If the adjuster’s initial demand seems close to reasonable, the claimant should make a counter-offer. Ideally, that should cause the adjuster to increase his or her suggested amount. Sometimes it takes only a few calls back and forth for the claimant’s desired amount to match with the amount offered by the adjuster.

Steps to be taken when the adjuster and claimant are in agreement:

Claimants cannot count on receiving any money just because the adjuster’s offer has finally matched with the amount that was requested. Instead, claimants must be ready to ask for a written confirmation of the amount agreed-to over the phone.

That request for a written confirmation should also mention the need for further information, particularly information concerning the date on which a payment check would be issued. In that way, the claimant’s actions can put added pressure on the insurance company, and help to ensure the speedy delivery of the promised compensation.