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If you have bargained for some item on sale at a market, then you already understand one fundamental fact in the negotiating process. It takes two people to arrive at a deal or bargain. In a market the buyer and the seller represent those two people. During the negotiations that precede a settlement, the adjuster assumes the role of buyer and policy holder making the claim assumes the role of seller.
That means that if you seek coverage for damages from your insurance company, you will face a task similar to that of a seller. You will know what you expect to get, in terms of a monetary award. The adjuster knows what the insurer is willing to pay. Armed with that knowledge, the two of you test each other, using techniques such as bluffing and blustering.
Steps to process
You or your Personal Injury Lawyer in Brantford writes a demand letter. You come up with what you see as fair compensation, one that falls on the high side, and you cite that figure in your demand letter. The adjuster studies your letter, looking for the weaknesses in your argument. At the same time, the adjuster’s skill with numbers allows him or her to calculate an approximate figure for your damages. The adjuster’s response explains the weaknesses in your argument and presents a counter-offer, one that usually falls far below that one that you have requested.
You respond by making a slightly lower demand; the adjuster’s response includes mention of a slightly higher offer. That step might get repeated 2 to 3 times. Ideally, the two of you eventually agree to a settlement figure.
Things on which any two negotiators might focus
• Will the insurance policy cover the damages?
• Who was at fault?
• Was the injury permanent; did it have a permanent effect on the victim’s career and lifestyle?
• Was every aspect of the treatment necessary?
• Did the victim have a pre-existing condition?
In order to finish the negotiations by winning a fair settlement, the victim that confronts the adjuster must undertake the proper amount of preparation. Three different tasks allow from completion of an adequate amount of preparations. Those are an investigation, acquisition of supporting documents and composition of a demand letter.
Tricks that force adjusters to face a greater challenge
• Take notes while listening to the adjuster’s statement.
• Do not be in a hurry to settle; remain patient
• Be persistent: Request completion of any task that has been promised; if necessary set deadlines.
• Realize that all adjusters are people. Each of them loves to receive some type of complement.
Actions that do not prove helpful, if you hope to challenge an adjuster
• Using abusive language
• Reliance on hysterics
• An obvious show of emotions