Out of the thousands of personal injury claims filed each year, some 95% are settled out of court. This is because, in most instances, neither side in the case has the stomach or the unlimited bank account to deal with a protracted trial. Therefore, settlement is the ideal option. But like many things, settling a case is an art form unto itself. And the goal for any plaintiff should be to secure the most advantageous settlement possible. To do this, quality representation will be required. Those looking for a NY injury attorney can find a list here. Also, a crucial part of the process is dealing with the insurance company. There is always an initial call with an insurance adjuster where both parties discuss the claim. Usually, after a few phone calls, a settlement is reached. Here are some additional tips plaintiffs should keep in mind when dealing with insurance companies.
Decide on a Figure Beforehand
Going into any negotiation unprepared is ill advised—especially when it comes to dealing with insurance companies. Claimants should always have a settlement figure in mind before negotiations even begin. The claimant’s attorney can help decide on this figure, and it should be represented in the demand letter. Also, the claimant should have a minimum settlement figure that he or she will accept. They should never reveal this settlement figure to the insurance adjuster, instead keeping it in mind as a baseline during negotiations.
Don’t Accept the First Offer
In most cases, the initial settlement figure offered by the adjuster will be low, either as a gambit to test the claimant’s negotiating ability, or simply out of a desire to save money. All unreasonable offers should be rejected out of hand. Conversely, claimant’s can and should make an immediate counteroffer when presented with a reasonable offer. Making this counteroffer slightly less than the figure represented in the demand letter is a good move, as it shows a willingness to compromise on behalf of the claimant.
If an adjuster makes a low ball offer than it is crucial to get him or her to explain the reasoning behind it. Have them put their reasoning in writing and describe in detail how they came to that figure. Then the claimant can answer with his or her own facts and all points they have in their favor. Any emotional points supporting the claim are welcome, too.
Get it in Writing
Once a settlement figure has been agreed upon, it is time to put it down on paper. Confirm this agreement in a letter to the insurance adjuster and contain all relevant details, such as the settlement amount and any damages or injuries covered in that figure. Include the date by which the claimant expects to receive all settlement documents from the adjuster as well.
These are just a few tactics to keep in mind when negotiating with an insurance company. Of course, seasoned attorneys are adept at navigating this process, and they can be hired on contingency, meaning they won’t earn money unless a settlement is reached.
Best Ways to Improve Your Career
Working on improving yourself is a continuous process. One that chisels you to perfection every time you do it. It...
New to Golfing? 4 Etiquette Tips You Need to Know
Golf is a sport that is governed by some very specific etiquette rules. If you are just taking up golf,...
How to Manage Scoliosis In Adult Period
We always start thinking about our health, and the importance of it, once something goes wrong. When that inevitably happens,...
Simple Ways To Stay Warm This Winter
You shouldn’t have to compromise on style for warmth, which is why we have put together this guide on how...
Staying On Schedule When Traveling With Family
There is a lot of planning that goes into traveling with your family, especially if you are trying to stick...
Do You Need A Lawyer When Filing For Divorce?
Since divorce is a relatively common legal proceeding, some couples opt for a DIY approach. They decide to download the...
Unique First Home Gifts For Your Loved Ones
If one of your loved ones is moving into their first home, we have the perfect gifts for you. Each...
Should Your Business Offer International Shipping?
In today’s world, many businesses have the opportunity to reach a global audience and find new ways to grow. But,...
Why Isn’t Your Company Website Seeing Traffic?
Are you hooked? Do you check your website’s Google Analytics frequently, only to be disappointed every time you see it? ...
Resources and Assistance For The Parents Of Children With Autism
Raising a child with autism can be a challenge. For most neurotypical people (i.e., those who do not have autism),...
How to Improve Your Company Parking Lot Safety For Your Employees
When your workers park in the corporate lot, you want them to feel comfortable and protected. Your staff shouldn’t have...
Legacy Application Modernization – The Enterprise Perspective
The global application modernization services market size is expected to grow from USD 11.4 billion in 2020 to USD 24.8...
What You Need to Know Before Sending Important Packages
Many of us have at least once in our life faced the task of sending something to another city or...
4 Most Efficient Drainage Systems For Flat Roofs
The matter of drainage is the essential function of your roof. In fact, the very shape of a roof (a...
Google Algorithm Updates to Expect by The End Of 2021
Google’s algorithm updates tend to come with a lot of uncertainty and questions, and getting ahead of them is the...
Tech7 years ago
Creating An e-Commerce Website
Tech7 years ago
Design Template Guidelines For Mobile Apps
Business6 years ago
The Key Types Of Brochure Printing Services
Travel9 years ago
Who Else Wants Also Nfl Hat
General7 years ago
Kobe Bryant With His Unique Nba Jerseys
Tech8 years ago
Why Small Businesses Can't Ignore Mobile Technology
Tech7 years ago
Climb Google Using These Checklists
Health8 years ago
Health Supplements For Sports Activities Nutrition