Tips for Negotiating a Fair Settlement After a Car Accident
Whether you are filing a claim with your own insurance company for personal injury protection (PIP) benefits after a car accident, or you are filing a claim with a negligent driver’s insurance company, you will have to negotiate a settlement. Insurance companies never offer a fair settlement that will fully cover all of your losses upfront. Instead, you will have to enter into negotiations, which can be difficult for people who are unfamiliar with them. It is always advised to work with a Tampa car accident attorney who can negotiate on your behalf.
Going through the process alone is risky. However, if you intend to do so, below are some tips that can help.
Understand the Goal of Insurance Adjusters
Before even starting negotiations, it is critical to understand how insurance adjusters operate. The role of the insurance adjuster is to investigate your claim and determine the value of your claim, or if it is worth anything at all. Insurance adjusters typically seem concerned, friendly, and as though they want to help. Insurance adjusters know that if you do not have legal representation, you likely will not threaten them with a lawsuit. Without this threat, adjusters do not have the same motivation to pay a fair settlement. They will continue to make low offers hoping that you will eventually accept one.
Know the Value of Your Claim
The next important step is to know how much your claim is worth, or the total value of all the losses you sustained. Common damages in car accident claims include medical expenses, lost income, property damage, and pain and suffering. In addition to understanding the value of your claim, you must be able to present strong evidence that proves your damages. You must also consider whether you were partly to blame for the crash, as the insurance adjuster will try to shift fault to you.
Exercise Caution when Speaking with the Adjuster
It is extremely important to be careful about what you say when speaking with the adjuster. Do not admit any degree of fault, make emotional statements, or guess about how the crash occurred. Also do not threaten the adjuster or argue with them.
Send a Demand Letter
Your demand letter should include the total compensation you are seeking, a reasonable explanation for the value of damages, and any evidence that supports your case. Know that you may not receive the total amount you are demanding but have a minimum amount in mind, as negotiations mainly involve counteroffers. Never rush to settle a case, as you cannot return to the insurer in the future if the settlement is not enough to fully cover your losses.
Work with a Car Accident Attorney in Tampa
Negotiating with the insurance adjuster on your own is very risky. At Moore Law, our Tampa car accident attorney is a skilled negotiator and will work hard to ensure you receive the full settlement you are entitled to. Call us today at 813-510-5400 or chat with us online to request a consultation and to learn more about how we can help.
Source:
ecfr.gov/current/title-46/chapter-I/subchapter-A/part-5/subpart-B/section-5.29
