Negotiating Injury Settlements with Insurers
If you have recently been involved in a personal injury matter, you’re likely seeking compensation. To do so, you may potentially need to negotiate with different insurance companies. If you succeed, this is a great way to gain additional income to tackle medical bills, lost wages, and compensate for any pain and suffering that may stem from your accident.
If you’ve been wronged by someone in any way, negotiating with their insurance provider is an option to reduce the financial stress surrounding your situation. However, if you lack adequate legal skills and negotiation experience, you may walk away with far less than you deserve.
Negotiating Your Injury Settlement
Negotiating an injury settlement with the other party’s insurer can be straightforward, especially if you have an experienced Florida personal injury lawyer on your side.
Discuss the Desired Amount with Your Attorney
Before you call your insurer, you should determine and discuss the adequate amount of compensation for your injuries. You can work with your attorney to figure this out. The amount may not be what you initially expected, but the negotiation process takes time. Throughout negotiations, you and your attorney may have to speak with insurance companies while your attorney prepares a demand letter on your behalf to explain your claim and argue on your behalf about why you should be awarded the amount you’re seeking.
You are never obliged to settle or accept the first settlement offer.
Insurers will attempt to save as much money as possible, so their first offer may not be fair to you. You and your attorney should discuss what a reasonable settlement amount should be for your claim, so you know how much to ask for and demand.
Listen to the Other Side
Once your initial request is made to the other party’s insurer, you can expect them to return with their own defending statement. This statement may include why they disagree with your figure and why they believe you should be compensated lower. They will make their arguments about what is wrong with your claim and point out flaws in your argument to lower the settlement. Pay close attention to what they say, as this will shed light on what they will likely defend against your case should a settlement be reached.
Counter Their Arguments, But Do Not Accept the Offer Just Yet
To continue your fight in seeking extra compensation, you likely need to respond to these arguments. However, you should remain cautious of the figure offered to you by the insurer. They may try to get you to settle quickly to see how rushed you are and if you would be willing to accept their lowest offer. You should never accept an offer when you think it is unjust under all the relevant circumstances.
An experienced Florida personal injury attorney can help you read the other party’s proposed settlement and discuss how to proceed.
After receiving an initial settlement offer, you should not accept if you do not think the amount will fully compensate you for your incurred damages. Although you may concede on a few points with the advice of your attorney and obtain a slightly lower amount than you initially hoped, you should avoid settling for less than what you deserve under the circumstances.
Hire a Legal Professional to do the Negotiating
To maximize the compensation you may deserve, consult with an experienced Florida injury attorney to guide you through the legal process. Having an experienced attorney speak on your behalf can help take some pressure off of you and assist you in maximizing your recovery.
If you or a loved one suffered an injury, Miller Trial Law can help you. Please call us today at (305) 697-8312 for a free, no-risk consultation. We look forward to serving you!