Settlement Negotiation Tips from Tittle & Perlmuter
Dealing with a car accident can be especially challenging. Injured victims have a legal right to full and fair compensation. However, the big insurance companies are often reluctant to pay. We want to help you through the complex accident settlement process. Here’s a list of 8 quick settlement negotiation tips from ourCleveland car accident attorneys:
An insurance company will not be looking out for your best interests. The insurance company is the opposing party in your case. This is true even if you are dealing with your own insurer. You cannot rely on insurance adjusters to guide them through the process. You must keep your guard up at all times. The bottom line: Insurance companies want to reduce your settlement offer.
2. Initiate the Claim as Soon as Possible
Successful auto accident claims require strong supporting evidence. Unfortunately, many important forms of evidence begin to disappear soon after a car crash. To protect your interests, the best thing you can do is to start your claim as soon as you possibly can.
3. Never Admit Fault for the Accident
When speaking to an insurance adjuster, you should never admit (or accept) any fault for the wreck. In some cases, the insurance adjuster may try to subtly push partial fault on you. Regardless of the circ*mstances, never willingly accept that fault. It is not your role to judge who is at fault for the crash. Let your Cleveland car accident lawyer handle that issue.
4. Stick to the Facts, Never Speculate
Additionally, when on the phone with an insurance adjuster, you should never give any opinions about your accident, your injuries or your recovery. Instead, always stick strictly to the facts of your case. Insurance adjusters want you to talk a lot about your accident. They want you to engage in baseless speculation. Why? Because they are looking for statements that they can use against you.
5. Know the Rough Value of Your Claim
When getting deeper into negotiations, you must know the rough value of your claim. Without this knowledge, you simply will not be able to get a fair settlement offer. Sadly, insurance companies will exploit your lack of knowledge. Always reject a low insurance settlement offer. If you are unsure as to the value of your claim, you should speak to an attorney immediately.
6. Be Patient, Do Not Accept the First Offer
Insurance companies rarely start with their best offer. Indeed, insurers sometimes try to begin with an unreasonably low offer in order to ‘anchor’ the negotiations in their favor. Again, do not accept a bad offer; you are entitled to full compensation.
7. Get Everything in Writing
It is a best practice to get all important information in writing. This help you to reduce possible confusion with the company. It will also give you documentation that you can hand over to your lawyer for a comprehensive review.
8. Consult with an Ohio Car Accident Attorney
Finally, the single most important settlement tip is that you should always work through an attorney. For more information on how Cleveland car accident lawyers can help, pleasecontactTittle & Perlmuter today. Request a free, no-obligation review of your insurance claim. We are ready to get to work.
You may provide the most basic details such as your name and contact info, the location and date of the crash, and what car you were driving. Other than that, politely decline to give more details. You have the right to refuse to answer the adjuster's questions or to consult with a car accident lawyer first.
If you cannot agree to settle, your reply should be a formal business letter that makes the case for your higher demand. Your letter should clearly: State that the offer you received is unacceptable. Refute any statements in the adjustor's letter that are inaccurate and damaging to your claim.
Your legal representative can help you write a letter that states your intentions. Within the letter, you can indicate that you reject the offer and highlight why you deserve a higher settlement amount. You should also counter their reasons for offering the lowball initial offer.
In each paragraph, clearly state the original offer, your counteroffer, and why you believe the counteroffer is appropriate. For example, after you state the original salary and your desired salary, explain that their offer was below the national average salary for the job.
Some insurance companies will send a low settlement offer due to incomplete medical documentation or lack of evidence proving the seriousness of your injury. The first settlement offer is usually just a starting point that you or an injury lawyer can negotiate.
Try to stay level-headed. Keeping the conversation polite and respectful will improve your chances of reaching agreement. It is also important that you take time to prepare yourself before those negotiation talks begin. Good preparation will give you more confidence going into mediation or settlement discussions.
Getting an offer from a liability insurance company means they've concluded that someone they sold insurance to is liable for your losses. They quickly offer you a lowball settlement in hopes that you'll take it before you learn from a lawyer what your claim is really worth. Don't fall for lowball offer tactics.
No matter how unfair it may appear, lowball settlement offers are commonplace in personal injury cases, given the sky-high insurance premiums some insurer charge. The reason is simple – these companies always try to restrict their liability.
Establish your terms. Before calling, take a look at your budget and savings to determine if you can make a lump-sum payment up front. Once you have a plan laid out, you can then make your offer and establish your potential terms. Always make an offer that is less than the full amount you can afford.
Introduction: My name is Pres. Carey Rath, I am a faithful, funny, vast, joyous, lively, brave, glamorous person who loves writing and wants to share my knowledge and understanding with you.
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