5 Tips For Negotiating With An Insurance Company
No matter what kind of injury case you’re dealing with, chances are you will have to negotiate with the insurance company involved after you’ve submitted your demand letter. Perhaps you’ve been hurt in a car accident, been on the receiving end of medical malpractice or were in some other way personally injured; you have physical and emotional pain to deal with, on top of likely being out of work for a while.
There is no reason for you to settle for less than the compensation you deserve, especially after undergoing the trauma of something like being hurt in a car accident. Here are some tips for negotiating with an insurance company to ensure you receive the proper damages for your injury. Remember, having a personal injury attorney by your side will help make the process much easier.
1. Go into It with a Settlement in Mind
Determine what you believe your claim is worth while putting together your demand letter. Also decide on a minimum settlement you’d be willing to accept—not to reveal to the adjuster, but just to keep in mind yourself. The claims adjuster will likely point out things that supposedly weaken your claim, making you question how much you deserve. If you have a personal injury lawyer in your corner, they will be able to negotiate on your behalf to make sure you reach that minimum settlement.
2. Don’t Simply Accept the First Offer
The adjuster’s first offer is likely a tactic. Just as you would propose a higher settlement in order to negotiate to at least your minimum, the insurance company likely has a maximum. You can come back with a counteroffer that is lower than your original demand to show that you are willing to compromise, but unwilling to accept an offer you think is unreasonable.
3. Get Justification from the Adjuster
In the case of a particularly low offer from the insurance company, do not come back right away with a counteroffer as they are likely trying a negotiating tactic. Ask the adjuster for the specific reasoning behind such a low offer, then write a letter responding to each factor they have mentioned. After you’ve heard their reasoning, you can determine if it makes sense to lower your demand or not. If your response to their reasoning is valid enough, they may even come back with a higher offer before you’ve responded with a counter. Patience is key.
4. Engage Their Emotions
Negotiating your personal injury claim shouldn’t just involve the facts, although those are very important to have clearly stated. Don’t forget to bring up the emotional impact of your injury as well. Perhaps it interfered with being able to care for your child—if so, say so. You can’t quantify the emotional impact of being hurt in a car accident, but your adjuster is human after all, and it can have a lot of influence on your settlement.
5. Put It in Writing
Immediately and formally confirm the agreement once you and your adjuster reach it. This should be in the form of a letter with the settlement amount, coverage and date of the agreement. Your personal injury attorney will be able to help you craft this most effectively.
If you’ve been hurt in a car accident or have another personal injury claim in or around Nashville, contact Mitch Grissim & Associates for a free case review today. With over 35 working with personal injury cases in Nashville, we know how to get clients the settlements they deserve and will do the same for you.