The initial step in bargaining a settlement for a personal injury or a car accident is calculating the right amount of money that you can accept so as to withdraw your legal claim. Most injury attorneys and insurance companies rely on particular formulas to know where to start the settlement talks.
According to U.S Department of Justice, Bureau of Justice Statistics, out of the 26,928 contract, tort, and real property trials in the year 2005, 60% were associated with personal injury. These statistics also revealed that more than 7,000 personal injury cases were filed in several state courts in the country.
To come up with the best possible settlement that works for both you and your opposite party, consider the following tips when demanding compensation.
Havea correct settlement amount in your mind.
It is important to know the range in which you believe that the worthiness of your claim falls. If you don’t, seek help from professionals such as Dolan Dobrinsky Rosenblum. It is also important to know the minimum amount in the range that you can accept before you start talking to an adjuster.
If you already know the minimum figure you can accept, there are minimal chances of making wrong decisions. It is not always recommendable to cling to the figure you had originally set. If an adjuster comes up with a fact that makes your claim weaker, you can lower the value. If you discover a fact that makes your claim stronger, you can also revise your value upwards.
Don’t jump at the first offer.
Most insurance adjusters, commence negotiations by first providing low settlement amount.They do this with the intention of finding out whether you clearly know the actual worthiness of your claim. An adjuster may offer a low settlement at first to see whether you are patient. If you are not, you will just take the amount and leave.
If the initial offer made is too low and does not fall within your range, do not accept it. Bargaining, especially if you have reasonable facts, can help you acquire the final settlement amount you have envisioned.Furthermore, emphasizing the strong points can be helpful.
Mention emotional points that support your claim.
It is important to mention emotional points that support your claim. If you have photos showing a severe-looking injury or a smashed car, let the adjuster see them. Bargain while referring to them. If you have your family member who suffered injuries, consider informing the adjuster about it. Such emotional points can help you settle for the right amount.
Know when to seek help from an attorney.
If you feel uncertain that the negotiations are not going as you had expected, consider seeking assistance from an attorney. Statements below explain situations in which you may decide to hire an attorney.
- Most adjusters do not take unrepresented claimant seriously and may not offer a fair settlement. This is common especially if the damages are more than ten thousand dollars. You should hire a lawyer if you are demanding compensation worth five thousand dollars or more.
- It is important to seek help from an attorney if there is need of claiming for future damages. If you lost future income due to the accident, you will need to hire an attorney to help you know how to go about it.
Put the settlement in writing.
When you and the adjuster reach an agreement, note it down and then write a confirmation letter to the adjuster so as to confirm whether the details present are accurate. The letter should be brief and clear.
Getting the most appropriate claim settlement may not be too difficult especially if the correct procedure is followed. If you are dealing with complex issues, seek help from a competent attorney. This will not only prevent you from being cheated on but will also increase your chances of making an accurate decision.