Injured Victims Should Be Ready To Bargain With Insurers During Negotiations

February 22, 2024 by Edward Walker

Accidents inflict physical, emotional, and financial pain, so victims suffer trauma and mental anguish for years to come. If you’re a victim of personal injury, you may be able to get compensation, which is limited to what the defendant can afford, or it may depend on the court sentence.

It might not cover the total cost of your damage or loss. If you suffer an injury due to someone’s negligence, whether it’s a slip and fall accident, a car crash, or medical malpractice, tort laws entitle you to pursue a claim for compensation.

An offer to settle the case can happen at any time during the claims process. It’s paramount to seek legal counsel when deciding to ensure fairness.

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By Settling Your Personal Injury Case, You Guarantee You’ll Be Compensated for Your Loss

Settling outside the court is an option that many lawyers strongly recommend because the outcome is more predictable, and it’s faster (and more affordable) for everyone.

Simply put, solving the legal dispute without the need for a trial helps you get much-needed compensation, so try not to get caught up in the battle mentality of trial. The vast majority of personal injury lawsuits settle before ever reaching trial, and for good reason.

Punitive damages aren’t meant to pay for your actual losses but to punish the defendant. The point is that litigation is difficult and stressful for everyone involved; not even defendants like it.

According to the experts at PersonalInjuryClaimsUK.org.uk, while settling a case might seem like the best option, there are some potential drawbacks.

For example, you may not feel that justice has been done because settlements are private. Face-to-face discussions are often inappropriate and ineffective in dealing with disputes, especially with relatives.

Making the decision of whether or not to settle your personal injury claim is the most important one you’ll make, so consider it more than once.

You should decide with the help of a legal professional. Your attorney has spent years in law school and practicing the law, so have them evaluate your case.

Some Of The Common Issues of The Negotiation Experience Include

As you can imagine, settlement negotiations don’t always go smoothly, so before you step into one, understand what sort of problems could throw a wrench into the bargaining machinery. Examples include but aren’t limited to:

Whether The Insurance Policy Covers the Injury

Depending on the type and level of insurance, you can obtain varying compensation for the damages you’ve suffered.

Consequently, the insurance company will want to review its terms and conditions; the ambiguities in the policy will be interpreted in your favor because the insurer is the one who drafted the policy.

If you’re unable to reach a fair settlement and have to file a personal injury lawsuit, the insurance carrier will be named as the defendant.

Don’t fret because in nearly every case, the defendant has insurance, even if they avoid the interference of the insurer.

The Extent of Your Injuries

As mentioned previously, personal injury can relate to physical or psychological harm. Generally speaking, the claims for damages must be started within three years of the cause of action arising.

Not surprisingly, an insurer might be suspicious about the injuries you’re claiming and the treatment you require, which is why you must document what happened in the aftermath of the incident.

Documentation proves your specific injuries, so track medical expenses, demonstrate loss of income, and preserve evidence to facilitate the negotiation process.

A dispute over injuries/treatment is likely if you have pre-existing conditions exacerbated by the accident.

The Cause of The Accident

Personal injury is caused by intentional, negligent, reckless behavior. Imagine the following situation: you’re walking down the street, and a car runs the red light, causing you to dive to the ground to avoid it.

You get up with a minor scrape on your hand, walking away with additional symptoms. You may be able to recover a pound amount for the damage suffered (medical costs, lost wages, pain, and suffering).

Nonetheless, the insurance company may question your theory and what caused the accident. Don’t admit fault without first consulting with a lawyer.

Negotiation isn’t synonymous with bargaining. To be more precise, negotiation is a discussion involving consideration and deliberation over several aspects, so you must have a holistic view of the deal.

The primary factors that determine how a personal injury accident claim is to turn out are: investigation, supporting documents, and the demand letter.

Decide the minimum amount you’re willing to accept to settle your claim, but don’t share this information with the insurer.

Only adjust this amount downward if the insurance company highlights weaknesses in your claim; be polite, patient, and organized.

It’s normal practice not to accept the first offer – much of the time, there is an opportunity to negotiate. The insurer will give you a very low number to try to figure out if you understand what your claim is worth, so never say yes to the first offer.

Aim for a settlement that adequately covers your present and potential future medical expenses, lost wages, and other losses.

If the insurance company’s offer is reasonable, you can make a lower counteroffer than the first offer to secure a better deal than the one you received.

During negotiations, you can emphasize emotional points supporting your claim. For example, you can send the adjuster a photo of a sustained bone fracture.

Most people feel a bit uneasy when they have to see injuries. If the injury makes it difficult or impossible to financially support your family, be sure to mention that.

Even if it’s not possible to quantify emotional distress, it can be an effective negotiation tool. The insurer will feel uncomfortable with the silence and feel compelled to fill it with concessions. If you feel that things don’t go as planned, turn to your lawyer for help.

Conclusion

If you have reason to believe the insurer is acting in bad faith, you can take legal action. Many states have codes or statutes pertaining directly to consumer protection.

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