Negotiating a Full and Fair Settlement After an Accident Injury
No two personal injury cases are the same. While some can settle quickly and the insurance company does the right thing, others can drag on for years before the two sides are able to reach a settlement agreement. In some instances, cases just don’t settle and must be resolved in court.
Prior to Settlement
If you’ve been injured it’s best that you get as much medical attention as you need before discussing the settlement of your case. It would be tragic to settle your case for much less than it is worth because you acted too quickly and found out later that you need expensive surgery or costly ongoing medical treatment.
Reservation of Rights Letter
When you file a claim, the insurance company is going to send you this letter. It will tell you that they are investigating your case and reserve the right to deny benefits if they determine that the accident isn’t covered by the insurance policy in question. Personal injury attorneys understand that getting a reservation of rights letter is standard practice.
The Demand Letter
Coming up with a value for your claim is essential. This is something that an experienced personal injury attorney can handle on your behalf. Pertinent factors include any unpaid expenses, future medical care, lost earning capacity, and the value of pain and suffering.
The next communication that you make with the insurance company could be a demand for settlement. You should make this in writing with a justification for the figure provided. Many attorneys will take a look at the insurance policy limits and use this as a basis for their demand. If the insurance company refuses, ask them why they are unwilling to pay and put them on the defensive.
Emphasize Emotional Points
When you’re negotiating a settlement with an insurance company, you should emphasize how the accident has impacted your life, particularly the things that have caused you pain, suffering, and emotional distress.
Evaluating Counteroffers
After sending the demand letter to the at-fault party’s insurance company, it’s time to wait for a response. The insurance adjuster may call you or send a letter in reply. Rarely do they simply agree to your settlement demand, which is why having strong negotiation skills is essential.
Obtain Legal Help for Your Injury Claim
At Stein & Fox, we have been advocating for injured victims and their families throughout the Atlanta area for several years. Our personal injury lawyers will thoroughly review your case during settlement negotiations, or before, and give an honest opinion about its value. If taking your case to trial is the best option, we can deliver personalized and aggressive representation in the courtroom as well.
