28 January 2019 Posted By : Administrator

Personal Injury: 5 Tips for Negotiating With Insurance Companies

If you’ve been the victim of a personal injury situation – such as a car accident, slip and fall, or workplace accident – you’ll find yourself in the middle of a financial and legal battle. And if you aren’t prepared for the pressure insurance companies will put on you to quickly settle, you may easily crack.

5 Negotiation Tips and Secrets

If you’re injured as the result of someone else’s negligence or oversight, you have the option to file a claim with the responsible insurance company. Once you file a claim, you have to be prepared to negotiate with the claims adjuster. These negotiations can last for weeks or months. Once you decide to accept an offer, the claims process ends in a settlement. But if you continue to reject offers and no figure can be agreed on, you’ll have to file a personal injury lawsuit and take the case to court.

More times than not, personal injury victims settle for less than they should. They either don’t know what they’re doing, or they get tired of the process, so they say, enough! But this is your livelihood we’re talking about, and you can’t afford to settle for less than you deserve.

As you walk through this process, here are some helpful tips that will allow you to properly negotiate with insurance companies and obtain a favorable outcome.

  1. Hire an Attorney

“Insurance companies are actually working against you when it comes to personal injury cases. They will challenge your evidence and dispute your claim, often denying your claim altogether,” Craig Swapp & Associates explain. “If you try to fight the insurance company bullies on your own, you don’t have much chance of winning your case.”

As tempting as it may be to believe that insurance companies are fair and honest, they aren’t. They’re in the bottom line business, and everything is about dollars and cents. If you try to fight them on your own, you’re going to lose. They have years of experience in negotiations and mounds of data to back their decision-making. You need an equally experienced personal injury attorney who can help you offset these disadvantages.

  1. Reject the First Offer

“It is standard practice for insurance adjusters to begin negotiations by first offering a very low settlement amount – or, sometimes, denying liability altogether,” AllLaw.com points out. “With this tactic, the adjuster is trying to find out whether you understand what your claim is worth and to see if you are so impatient to get some money that you will take any amount.”

Always, always, always reject the first offer. No insurance company is going to come to you with their highest and best figure. They might not be far off in every case, but there’s always room to go up. Hear them out, ask questions, and then end the conversation. There’s plenty of time to negotiate.

  1. Figure Out a Fair Settlement Amount

You and your attorney need to figure out a fair settlement amount that you believe your case is worth (and that you’re willing to accept). This will serve as an anchor point for your counteroffers during the negotiation process.

  1. Ask for Justification of Low Offers

When you get lowball offers – or any offer for that matter – it’s important to ask for justification of these figures. Take copious notes and record everything that’s said. You can then go back to the drawing board and point out where you think the insurance company is missing the mark and build a case for why your number is more reasonable.

  1. Get the Settlement in Writing

When you finally do reach a settlement, it’s imperative that you get it in writing as soon as possible. Have them send you an email while you’re on the phone, followed up by a certified letter. It doesn’t have to be complex. You just want something to document the agreed upon terms.

Take Control of Your Situation

While an insurance company may make it seem as if they have all of the control, the reality is that you have more influence than you realize. Instead of sitting back and giving the insurance company all of the negotiating power, you need to step up and take charge.

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