Following an accident that wasn't your fault, the insurance company of the other party will offer you a settlement. Although this amount is usually arrived after assessing the accident, the damage and the medical reports, the amount offered by the company may still be way below what you're entitled to get. This is because the claim adjuster serves the insurance company's interests. If you're unsatisfied with the offer, there are steps you can take.
Step 1: Gather all the Relevant Information
To show that the offer is lower than what you deserve, you'll need documented evidence. In this case that will be witness statements about the accidents, the police report and an estimate of how much it will take to replace your car or repair it. You should also know the cost of getting medical treatment and money lost due to absence from work.
Step 2: Calculate All Costs Involved
Calculate all the amount of money that you've spent or failed to earn as a result of the accident. If the accident has left you with a prolonged recovery time, you should also consider how much money you'll be spending and losing until you get better. Therefore, you need to consider your medical bills, the cost of fixing/replacing your car, etc. After this, increase the amount by around 20-25 percent.
Claims that are too high or too low will leave you disadvantaged in the negotiations. If you don't have the right information, you can be sure that the insurance company will offer you the lowest amount they can. You should also have a minimum amount you're willing to accept.
Step 3: Write a Letter Declining the Initial Offer
Let the insurance company know that you're turning down their initial offer and request a settlement in the amount you calculated. Detail all relevant facts and attach copies of the supporting documents.
Step 4: Wait for the Insurance Company to Contact you and Begin Negotiations
The insurance company will give you a counteroffer which you can accept if it's reasonable. Alternatively, you can also give them your own counteroffer.
Last Resort: Going to Court
If you can't reach an understanding with the insurance company, you can also go to court. At this point, you must work with a personal injury law firm. There is no guarantee that you'll win in court and you'll need professional legal help to increase your chances. For more information, contact a company like bob fain law.Share
28 April 2018
Were you injured at work and fighting to get the workers compensation that you have paid into each year? Sometimes, getting those payments can be very difficult. What do you do when an employer fights the claim? Do you need a lawyer to help you through the process? How will you pay for a lawyer if you cannot even pay your electric bill? You are probably as lost as I was when I went through the process. Fortunately, you can learn from my experience with the system and find the answers to many of the questions that you have about filing a workers comp claim and fighting the system when it is denied.