Do you know that if you have been wounded due to someone else’s negligence or carelessness, you have a legal right to be paid for your losses? If you’re filing a personal injury claim after an accident, you’ll undoubtedly have to negotiate with the other party’s insurance company at some point.
However, because an insurance company loses money when it has to pay out after an accident, securing a fair price for the damage can be difficult. Here are three fantastic settlement bargaining strategies for you to consider.
- Prepare A Settlement Sum in Advance
You determined a range of what you believe your claim is worthwhile putting together your personal injury settlement demand letter. Next, decide on a minimum settlement value within that range before speaking with an insurance adjuster about your demand. This amount is for your records and should not be shared with the adjuster.
However, it helps to have your bottom line in mind before the offers and counteroffers start flying back and forth. Anyway, before making any final offers, you should always seek the counsel of a lawyer such as Indiana personal injury lawyers and others.
Understand that you don’t have to stick to the goal you set for yourself. For example, you may have to drop your minimal figure if the adjuster points out elements you hadn’t considered, but that makes your claim weaker. You may also want to modify accordingly if the insurer begins with a small settlement offer or a number that is at or near your minimum or if you find evidence that strengthens your claim.
- Accepting The Very First Proposal That Comes Your Way is a Bad Idea
It’s typical to practice for insurance adjusters to start discussions by making a fair offer. The adjuster uses this strategy to determine whether you understand how much your complaint is valued and whether you have the time to wait.
When a first offer comes, your reaction should be based on whether it’s realistic but too low or too low to be a test of your knowledge. If the request is reasonable, you can react with a counteroffer that is somewhat less than the amount in your demand letter. This shows the adjuster that you’re also affordable and willing to negotiate.
With a little more haggling, you should be able to reach a final settlement sum that you both agree on. Don’t bother going through all the information again during these conversations. Instead, emphasize the most critical factors in your favour, such as the fact that the insured was entirely at fault.
- Await an Answer
Lower your claim no more than once until the adjuster makes you a new offer. It’s never a decent bargaining strategy to lessen your demand twice without an intervening enhanced offer from the adjuster. Instead, examine each of the adjuster’s additional justifications for a low offer.
After you’ve dealt with all of the adjuster’s arguments, you’ll either receive an acceptable offer or discover that no reasonable offer is forthcoming, in which case you’ll need to exert extra pressure on the insurance agency.
You should consider consulting as quickly as practical after sustaining an accident, such as Indiana personal injury lawyers, among others, to begin building your claim.