If you sustained an injury which was caused by negligence of another individual or institution, you can ask for a settlement. The claim can be taken up in court if the company does not pay as much as you deserve out of court. But settlement is difficult at many times because of the difference in opinions when it comes to negotiation.
The claim adjuster has their own inferences from their interaction with the individual who was injured. The attorney may have another perspective. All of it comes into negotiation of the settlement.
The negotiation works in a way that allows the individual to receive at least as much as they deserve given their medical bills and other types of related damages. Here is a list of things that one should know about the entire process.
Know the Basics
The basic process of negotiation is much like bargaining for the right price. It is something which involves a lot of back and forth either on phone conversations or in person. Some of the basic steps included in the case are:
• The attorney puts in a higher amount in the initial demand letter.
• The claim adjuster will have their own report of the claim and will tell you the faults of your claim. They can outline where they thought the payment would be excessive. For instance, they can note that the individual is asking more in physical therapy than was spent.
• After the report from the adjuster, the claimant adjusts their initial offer and conveys it to the other party.
• The adjuster would then offer a lower amount than what you deserve. In such a case, if you do not have an attorney to guide you, you might hurry and take a lower amount than you deserve. It is important to get an expert on your team who has experience in personal injury cases. You can contact reliable service providers like https://embrylawfirm.com/.
If the individual accepted the offer, they cannot ask for another amount later. They cannot question the details again. It would leave them with lower monetary compensation than what was spent during the course of treatment. A lawyer will ask for a lower amount than what was mentioned in the demand letter but still higher than what is offered by the adjuster.
The insurance company may then offer a higher amount than their previous offer which the individual may accept or raise based on their demands. The negotiation will keep on going until a settlement is reached.
However, there are cases when neither of the parties agree on a set amount which leads to no recourse but going for trial. A trial is a lengthy process which can take years to resolve. It is not beneficial for either of the parties which is why settling out of court is preferred.
Know the Subjects Discussed
If you are filing your claim yourself, then knowing the subjects to discuss during negotiation is very important. On the other hand, if you have legal representation, your lawyer will let you know about the basc topics that are covered during the negotiation process.
The lawyer always prepares their clients before it is time for them to talk to a claim adjuster. They may also act as mediators during conversations for damage control. The subjects on the basis of which further communication will be based are as follows:
• Coverage: The coverage should be aligned with what an individual is asking or. If the insurance policy does not cover the extent of the injuries, it becomes difficult to seek compensation for the accident.
• Liability: Depending on the geographical location, the liability will decide how much of a mentray compensation a person deserves. For instance, in some states, the liability in the accident is found in percentage and the individual will be paid based on the individual’s negligence which led to the incident.
• The extent of injuries: The injuries may heal in a few weeks or may be life-altering. It will be discussed with the adjuster.
• The extent of medical treatment: The individual might have needed extensive physical therapy and in some cases mental treatment too. It is correlated with existing problems before the incident so see if the claim is justified.
The adjuster will ask a series of valid questions to gauge the extent of injuries and how much should be paid. However, they might also ask for information that may reduce your claim. These tactics can be dodged if you have a legal representative present with you.
Know How to Tilt the Odds in your Favour
Your lawyer will notify you about the beginning of negotiation when a phone call comes from the insurance company. There are a number of tips that should be followed throughout the process in order to tilt the odds in your favour.
• Stay Organized: It is important to stay organised in all the required documents and evidence at hand whenever the insurance company asks for thm. It will speed up the process and will show that you are not hiding any information.
• Hold On to Your Arguments: Your lawyer will stick to an amount during the negotiation process which is necessary as the adjuster will try to refute the claim. It is important to keep a check on when the adjuster is returning with a counter offer. You can speed up the process by asking for a specific date by which the next offer would be made. Being rational with your arguments is key during these conversations.
• Be Calm and Patient: It is important to be patient as these things take time. Do not take the practicality of the adjuster as apathy and calmly show all the facts and documents whenever needed.
The Takeaway
Settlement negotiation is a lengthy process depending on the complexity of the case. In some cases, it may be resolved in a few phone calls while in others several meetings may be required.
