Negotiating a Claim with an Insurance Company

Written by: Michael Wade, July 10, 2021

Negotiating a Claim with an Insurance Company

If you were in an automobile accident or another kind of accident, you might have had offers from the insurance company to settle your claims. The insurance company may have made what you think is a great offer. They might have dispatched an insurance adjuster over to your house quickly after the accident with an offer to sign right away.

Nevertheless, you should not agree to the initial offer an insurance adjuster makes to you after an accident. An insurance adjuster’s job is to limit the payment of the insurance company– not to provide you a fair offer. Also, if you were injured in the car accident, it may take several months or years for your treatment to be finished. If you negotiate right away, you cannot go back later and request more money when your medical costs end up being higher than you thought.

Instead, the insurance company should really be negotiated with after you have reached a pre-accident condition. You may want to first have an idea of what your claim is worth. This information is very dependent on your particular situation, but you should take into consideration all of your costs, consisting of damage to your automobile, medical costs and lost earnings. You might additionally consider inquiring about damages for pain and suffering or some other non-monetary damages you have. Keep that dollar figure in mind throughout your discussions.

When the insurance adjuster produces the offer, it may be laughably minimal. Ask the adjuster to give you some information on how they or she calculated that offer and take notes on the information you gain. Then, write a letter to the adjuster which responds to each of the elements the adjuster pointed out in ascertaining the settlement. In the letter, emphasize each of the strongest statements you have for a larger settlement. After the insurance adjuster has had a chance to receive and process the letter, try to renegotiate. Anytime you do agree, put the settlement in writing.

Depending on the situation involved in your accident, you may be able to obtain compensation from the insurance company of the other driver, your insurance company, the driver himself, the owner of the car, or the employer of the driver who caused the accident. You may be entitled to compensation not only for the damage to your vehicle, but also your medical expenses (including future expenses expected to occur as a result of the accident), lost wages, and other expenses.

It is likely that the insurance company of the other driver will contact you and offer you a settlement. They will encourage you to take the settlement quickly, and you may feel pressured to do so. After all, you most likely have bills coming in as a result of the accident, and you probably want to put the matter behind you. However, the insurance company is not looking out for your best interests. Instead, they want you to settle at the lowest amount possible in order to maximize profit for their company. If you have future medical expenses or other out-of-pocket expenses, it is not possible to obtain compensation for those after you have settled the case.

Wade & Nysather, P.C. handles personal injury claims on a contingency fee basis, you do not pay unless we win your case.

On a contingency basis, the clients pay their lawyer by having an agreement that a certain percentage of the amount from the client’s claim could be given to the lawyer as his fee. On the side of the client, it would be very convenient to have a contingency basis because they do not have to worry about the lawyer’s fee whatever the outcome of the case may be.

If you have been injured in an accident, we encourage you to call us for a free, upfront, and honest consultation with one of our experienced attorneys.  We have over 25 years of experience handling personal injury cases. Call us today at (602) 547-2222.