How To Prepare For Negotiations With Insurance Company?

The injured claimant that has submitted a personal injury claim, but has not hired a lawyer could save a fair amount of money. Still, that same claimant’s lack of experience might prove problematic during the pre-settlement negotiations. That is why claimants need to learn how to prepare for negotiations with the insurance company.

Steps in preparation process

• Take pictures of damaged property, and of scene for injury-causing incident.
• Obtain a copy of the police report; seek treatment for your injuries.
• Determine extent of losses (injuries and damages), in order to learn the worth of your claim.
• Seek answers to these questions: Who was liable for the accident?
• Does the evidence suggest shared fault?
• What is the limit on the coverage provided by the defendant’s insurance?

You will need to include the answers to the above questions in the demand letter, save copies of all medical bills and check on statute of limitations for your state. When doctor has declared that your injured body has reached the point of maximum medical improvement, send the demand letter to the adjuster, along with copies of the medical bills. You might want to include pictures of your damaged vehicle, as well.

What to expect after sending demand letter?

Adjuster is likely to offer a low-ball bid. Your personal injury lawyer in Hamilton will ask you not to accept that initial bid. Instead, contact the adjuster and seek justification for such a low offer. Put the request for justification in a letter.

During next phone call with adjuster’s office, repeat what was stated in the letter. Take notes, as the adjuster provides the desired justification. If the adjuster were to ask for more information, then you, as claimant, should respond to the adjuster’s request. When sending any requested material, include mention of a counteroffer. By presentation of a counteroffer, you have started the negotiations.

What is the claimant’s role during the negotiations?

Claimants that have not hired a lawyer must decide on their own whether or not to accept each of the adjuster’s offers. If an offer appeared reasonable, then it would be the claimant’s job to put forward a counteroffer.

If all of the adjuster’s offers were unreasonable and unacceptable, then a different action would be required. That alternate action would entail filing a personal injury lawsuit. Understand that chances for a fair settlement increase, when there are no issues related to liability, and the insurance company has received all of the claimant’s medical records. If a dispute were to develop over liability, or over the extent and severity of the reported injury, then a lawsuit would probably be the claimant’s best option.

Insurers stand ready to settle at any point. Still, that might not be when the settlement’s terms have handed the claimant a fair deal.