In personal injury cases, your car accident lawyer has to submit a demand letter to the driver at fault or their insurance provider. However, insurers make profits by finding ways of paying less or not paying at all.
After reviewing your claim, the insurance firm may respond with a low-ball settlement amount. In most cases, claimants are usually facing financial constraints and may accept that offer. Let’s take a gander at how to respond to low-settlement figures from insurance companies.
Provide Written Feedback
Before jotting down your official feedback, contact the insurer and ask questions to evaluate their reasons for providing a low-ball settlement. The answers to your inquiries will offer guidance in writing your official response, as well as a counteroffer. The first low award could be because of inadequate information regarding your injuries or claimed losses. When that’s the case, give the insurer updated and itemized medical bills, evidence of income loss, and other necessary paperwork.
Concentrate more on your claim’s emotional and subjective aspects in your counteroffer and response, especially if you didn’t do that in the application letter. For instance, your leg surgery medical expenses could be covered, but the injury’s impact may not be colored. Thus, an official follow-up with the assistance of a Staten Island car accident lawyer allows you to highlight non-economic injuries such as pain and suffering or other mental effects. Emotional points vary in regards to the type of case.
Hire an Attorney
Working with an excellent personal injury lawyer does not require you to break the bank since they work on contingency terms. You only need to pay them after receiving a settlement, and they will take about 30% of your award. There are lawyers who offer no-obligation and free consultations. The attorney will liaise with medical and carnage experts. They will ascertain liability and try to acquire the highest compensation. They also will advise you on a suitable settlement and the ideal value of your settlement.
Make Your Counteroffer
Instead of rejecting the initial settlement offer, respond with your counteroffer showing the appropriate settlement figure. Your insurance adjuster may approve your counteroffer or continue with negotiations by sending their counteroffer. The back-and-forth communications could go on until you arrive at an acceptable figure for both entities.
In some instances, the adjuster may claim that your demand amount surpasses their authority, which refers to the maximum figure that the insurer can settle an injury case for. Limited authority is often used as a negotiation technique. The adjuster’s commission and pay depend on the amount they save their firm; thus, they will do all they can to pay you less.
If your case entails credible and strong evidence that back-up your claim, don’t heed your adjuster’s authority amount since the supervisor can sign-off a more significant settlement value if the adjuster has no authority.
Go to Court
When your insurer is adamant about its decision in refusing to raise the compensation to a value that meets your needs, the lawyer will table your case in court or exhaust all ways of compelling the insurance firm to provide a fair value. Filing an injury lawsuit does not mean negotiations have come to an end. An obdurate adjuster may instantly become reasonable when their firm starts accruing court expenses and the likelihood of a verdict against them.
Responding to a low-ball insurance offer requires a rational and careful analysis of your case. It also requires proper communication between you and the insurer. Hiring an experienced attorney ensures you have adequate assistance and advice concerning the sophisticated considerations of insurance settlements.